Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. Full year 2021 adjusted EBITDA, also a non-GAAP measure, was $931.3 million, compared to $810.0 million in 2020. The Commission vote to accept the proposed consent order for public comment was 5-0. Tallahassee, Florida, Deputy Electrical Safety Officer The company markets services individually more Contact Information Website www.mastec.com Ownership Status Publicly Held Financing Status These returns cover a period from January 1, 1988 through April 3, 2023. As previously announced on October 7, 2022, MasTec completed the acquisition of Infrastructure and Energy Alternatives, Inc., a premier renewables and infrastructure services provider adding approximately $1.1 billion in acquisition financing and assumed debt during the quarter. SLAC National Accelerator Laboratory Some 80 deals later, heres how their acquisition strategy is unfolding. At The FTC appreciates the collaboration of the Utah Attorney Generals Office in investigating this case. Wanzek is pleased to share that MasTec has acquired FNF Construction, a large transportation infrastructure contractor based out of Tempe, AZ. As previously announced on October 7, 2022, MasTec completed the acquisition of Infrastructure and Energy Alternatives, Inc., a premier renewables and Powder River Energy Corporation The site is secure. Backlog is a common measurement used in our industry. Some 80 deals later, heres how their acquisition strategy is unfolding. Post-acquisition, MasTec reduced net debt by approximately $350 million during the fourth quarter. The .gov means its official. A-1 Excavating, LLC (WI) (100% owned by MasTec North America, Inc.) Cash Construction Company, Inc. (TX) (100% owned by MasTec North America, Inc.) Decisive Communications, Inc. (MD) (100% owned by Precision Acquisition, LLC (WI)) (100% owned by MasTec, Inc.) Pumpco, Inc. (TX) The Communications segment continues to offer attractive upside opportunities, driven by 5G investment and accelerating spending by DISH as well as T-Mobile. Henkels is one of the largest U.S. private electrical power transmission and distribution utility services firms and the 5thlargestU.S.utility contractor in the recent 2021Engineering News-Recordranking. the complete list of todays Zacks #1 Rank (Strong Buy) stocks here, Markets Close Flat After Eventful Day; MGM, NXPI, CHGG Beat in Q1, Buy the Opportunity in These Stocks After Earnings, Top Stock Reports for AMD, Cigna & Moderna, Market Leader NVIDIA Breaking Out on Volume. The. If you wish to go to ZacksTrade, click OK. MasTec also offers smart energy solutions and electric infrastructure solutions. __________________________ 1 Reconciliation of fiscal year 2021 non-GAAP measure is included in this release Reconciliations of fiscal year 2022 forward-looking financial measures included in this presentation that are non- U.S. GAAP financial measures to the corresponding GAAP financial measures are not included, due to variability and difficulty in making accurate forecasts and projections, particularly in light of potential changes in Henkels' operations following its acquisition, as well as, because certain information is not currently ascertainable or accessible, and because not all of the information necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures is available to us without unreasonable efforts. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Full year 2022 adjusted EBITDA margin rate was 8.0% compared to 11.8% last year. This information is available in the PitchBook Platform. Houlihan Lokey served as exclusive financial advisor, and Sidley Austin LLP served as legal counsel, to Henkels. Get the full list, Youre viewing 5 of 17 subsidiaries. According to the FTCs complaint, there are only three providers of outpatient dialysis services patients in the greater Provo, Utah area, and the acquisition would eliminate actual, direct, and substantial competition between dialysis clinics owned by DaVita and dialysis clinics owned by the University of Utah Health, and would tend to create a monopoly. We believe that Henkels' expertise, scale and capacity, when combined with our existing operations, will provide a compelling suite of service offerings to support our customers' needs as they work to transition to renewable energy generation, modernize power grid systems and reduce carbon emissions. MasTec, Inc. is a leading infrastructure construction company operating mainly throughout North America across a range of industries. 2023 Copyright North American Energy Pipelines | Wordpress Website by OuterBox, MasTec Acquires Henkels & McCoy Group for $600 Million, Fecon Announces Brandon Flexsenhar as New COO, ExxonMobil Receives Top Certification for Methane Emissions in Permian Basin Production, Sempra Infrastructure, Williams Announce Preliminary LNG Agreements, Denbury to Provide Carbon Capture Transportation for Nutrien Facility in Louisiana. Austin, Texas, PUC Engineer (Engineer IV - VI) (00029045) For the year ended December 31, 2022, revenue was up 23% to $9.8 billion, compared to $8.0 billion for the prior year. As previously announced, during the fourth quarter, MasTec completed the acquisition of Henkels & McCoy Group, Inc., a premier utility services provider with total transaction consideration approximating $600 million. As a third generation, family-owned company, we carefully evaluated multiple alternatives for our operations, said Henkels & McCoy chairman and CEO Rod Henkels. NYSE and AMEX data is at least 20 minutes delayed. Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures (unaudited - in millions), Year Ended September 30, 2021, EBITDA and Adjusted EBITDA Reconciliation. Subscribe today to the Daily Power Industry Newsletter for the most up-to-date and relevant utility industry news. Our, https://investors.mastec.com/events-presentations, https://www.prnewswire.com/news-releases/mastec-to-acquire-henkels--mccoy-a-premier-utility-services-provider-301447978.html, PG&E Incentive Program Provides Customers Bill Credits While Supporting the Grid, KBR, INC. - 10-Q - Management's Discussion and Analysis of Financial Condition and Resultsof Operations, WattBridge Now World's Largest LM6000 Fleet Owner as the 288-MW Brotman Facility Begins Commercial Operations, Licensing Regulations In The Nigerian Power Sector, Eskom implements stage 3 load shedding from 4pm on Sunday until 5am on Monday, Study Findings from Canadian Institute for Cybersecurity Provide New Insights into Engineering (Smart grid security: Attacks and defence techniques), Learn more about posting on Energy Central , Electrical Engineer I or II - Transmission Planning, PUC Sr. Market Analyst (Program Spec VII) (00028762), PUC Engineer (Engineer IV - VI) (00029045). WebJul 2021 - Aug 2022 1 year 2 months. For the same reasons, we are unable to address the probable significance of the unavailable information, nor can we accurately predict all of the components of the applicable non-GAAP financial measures and reconciling adjustments thereto; accordingly, the corresponding GAAP measures may be materially different than the non-GAAP measures. Visit www.zacksdata.com to get our data and content for your mobile app or website. Web2021 - Mission Operations & Autonomy 2020 - Space Mission Architectures: Infinite Possibilities 2019 - Small Satellite Production - Driving a Revolution 2018 - Delivering A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. Everyone who completed the Although MasTec has enough visibility throughout 2021, the biggest risks to its guidance are governmental permitting, crew social distancing mitigation and the impact they may have on project schedules along with any potential project delays.The company now expects to generate record revenues of $8.1 billion in 2021, down from previous projection of $8.2 billion. See our report's 7 new picks today, absolutely FREE. 2023 full year GAAP net income and diluted earnings per share are expected to range between $194 and $212 million and $2.48 and $2.70, respectively. We believe the transition to renewable power generation will create significant growth demand across the utility sector. View original content:https://www.prnewswire.com/news-releases/mastec-to-acquire-henkels--mccoy-a-premier-utility-services-provider-301447978.html. Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures, (unaudited - in millions, except for percentages and per share amounts), EBITDA and Adjusted EBITDA Reconciliation, Non-cash stock-based compensation expense, Losses (gains), net, on fair value of investment, Project results from non-controlled joint venture, EBITDA and Adjusted EBITDA Margin Reconciliation, UPDATE 1-Japan's Mitsui and Sojitz warn of lower profits after record FY22/23 results, FOREX-Aussie jumps, yen at weakest in 15 years vs euro, as central banks split, Euro zone bond yields rise ahead of inflation data, UPDATE 1-Putin orders Russian govt to clarify rules on dividend payments to 'unfriendly' investors, Stocks Wobble on Amped Up Policy-Tightening Bets: Markets Wrap. A variety of factors, many of which are beyond our control, could cause actual future results to differ materially from those projected in the forward-looking statements. Greenwood, Delaware, IT Client Support Technician NORTH AMERICA. Second quarter-end backlog at the segment improved $489 million sequentially and it expects growth for the current year to be driven by persistent expansion of fiber optic networks, investments in wireless network capacity and 5G-related work. Bothactual fiscal 2021and expected post-acquisition 2022 results reflect impacts of underperforming communications and pipeline services operations, which are anticipated to improve over time. Full year 2023 adjusted EBITDA is expected to range between $1.10 and $1.15 billion, representing between 8.5% and 8.8% of revenue, and adjusted diluted earnings per share is expected to range between $4.64 and $4.91. 2023 PitchBook. Each violation of such an order may result in a civil penalty of up to $43,792. MasTec Inc. has closed its previously announced acquisition of Henkels & McCoy Group Inc. in a cash and stock transaction valued at approximately $600 million. We believe that this opportunity, coupled with continued expected growth in telecommunications infrastructure and expanding demand for traditional and new green pipeline services, positions us with multiple strong long term growth opportunities. Acquisition Highlights. We added approximately $1.1 billion of financing and assumed debt with the fourth quarter IEA acquisition, and as expected, we reduced a substantial amount of this debt with fourth quarter cash flow. MasTec Inc (MasTec) is an infrastructure construction company that offers engineering, building, installation, maintenance and upgrade services across North America. Concurring Statement of Commissioner Christine S. Wilson In the Matter of DaVita, Inc., and Total Renal Care, Inc. Competition in the Health Care Marketplace. The FTC investigated this case in collaboration with the Utah Attorney Generals Office. Founded in 1923, Henkels has been in operation for more than 98 years, with approximately$1.5 billionin fiscal 2021 revenue, primarily with long tenured relationships across adiverse blue chip customer base, with expansive geographic operations acrossthe United States. Unlock MasTec Inc profile and new opportunities for your business. The projected loss in the first quarter is the result of a variety of factors including a normal seasonally slow quarter, project delays, project start-up costs and integration costs related to recent acquisition activity. Trends in grid fortification, renewable energy consumption, and electric For the latest news and resources,follow the FTC on social media,subscribe to press releasesandread our blog. This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act.
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