Key Developments: MasTec Inc (MTZ.N)
34.28USD
1 Aug 2013
$1.28 (+3.88%)
$33.00
$33.62
$34.63
$33.56
153,695
159,297
$35.22
$12.86
Latest Key Developments (Source: Significant Developments)
Mastec Inc Raises FY 2013 Guidance; Issues Q3 2013 Guidance; EBITDA Above Analysts' Estimates
Mastec Inc announced that for fiscal 2013, it raising revenue guidance to $4.15 billion, continuing operations adjusted EBITDA guidance to $448 million and continuing operations adjusted diluted earnings per share guidance to $1.88. For third quarter of 2013, the Company expects revenue of approximately $1.15 billion, continuing operations adjusted EBITDA to be $135 million with continuing operations adjusted diluted earnings per share of approximately $0.60. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.02 billion, EBITDA of $422 million and EPS of $1.80 for fiscal 2013; revenue of $1.09 billion, EBITDA of $127 million and EPS of $0.60 for the third quarter of 2013. Full Article
Mastec Inc Reaffirms FY 2013 Guidance-Conference Call
Mastec Inc announced that for fiscal 2013, it expects $4 billion in revenue and $425 million in continuing operations adjusted EBITDA. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.0 billion for fiscal 2013. Full Article
Mastec Inc Sees FY 2013 Revenue Guidance At Upper End Of Prior Range; Raises FY 2013 EBITDA Guidance; Updates On FY 2013 EPS Guidance; Issues Q2 2013 Guidance Below Analysts' Estimates
Mastec Inc announced that for fiscal 2013, it expects revenue to be at the upper end of prior range, at $4.0 billion, increasing estimate for continuing operations adjusted EBITDA to $425 million and refining continuing operations adjusted diluted earnings per share estimate to $1.80, inclusive of $0.04 to $0.05 per share of additional interest costs related to the recent upsized senior note offering. For the second quarter of 2013, the Company expects revenue of approximately $950 million, continuing operations EBITDA is estimated to be $103 million with continuing operations diluted earnings per share of approximately $0.42. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.0 billion, EBITDA of $411 million and EPS of $1.83 for fiscal 2013; revenue of $1.028 billion, EBITDA of $106 million and EPS of $0.48 for the second quarter of 2013. Full Article
Mastec Inc Issues FY 2013 Guidance; EBITDA Guidance Above Analysts' Estimates-Conference Call
Mastec Inc announced that for fiscal 2013, it expects $3.9 billion to $4 billion in revenue and $410 million to $420 million in EBITDA. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4 billion and EBITDA of $404 million for fiscal 2013. Full Article
Mastec Inc Closes Offering of $400.0 Million of 4.875% Senior Notes due 2023
Mastec Inc announced that it has closed its offering of $400 million aggregate principal amount of 4.875% Senior Notes due 2023 (the New Notes). The proceeds of the sale of the New Notes are being used to fund MasTec's previously announced cash tender offer (the Tender Offer) for any and all of its $150 million principal amount of 7.625% Senior Notes due 2017 (the 2017 Notes) and the related consent solicitation (the Consent Solicitation), as well as to fund the expected redemption of any 2017 Notes not tendered in the Tender Offer, and to repay the outstanding balance under its existing credit facility. MasTec expects to use the remaining net proceeds for working capital and other general corporate purposes. Pending such usage, MasTec expects to invest the proceeds in short term instruments. Barclays, Morgan Stanley and SunTrust Robinson Humphrey acted as joint book-running managers of the New Notes offering. Full Article
Mastec Inc Announces Pricing of 4.875% Senior Notes due March 15, 2023
Mastec Inc announced the pricing of its public offering of $400,000,000 aggregate principal amount of senior notes due 2023. The senior notes will pay interest semi-annually at a rate of 4.875% and will mature on March 15, 2023. The senior notes were offered to investors at par. The senior notes will be MasTec's senior unsecured unsubordinated obligations and will rank equally in right of payment with any existing and future unsubordinated debt, and senior in right of payment to any existing and future subordinated debt. The senior notes will be effectively junior to MasTec's secured debt, including MasTec's existing credit facility, to the extent of the value of the assets securing that debt. MasTec expects to use the remaining net proceeds for working capital and other general corporate purposes. Pending such usage, MasTec expects to invest the proceeds in short term instruments. MasTec expects to close the senior notes offering on March 18, 2013. Barclays, Morgan Stanley and SunTrust Robinson Humphrey are acting as joint book-running managers of the senior notes offering. Full Article
Mastec Inc Announces Offering Of Senior Notes
Mastec Inc announced that it will offer $350,000,000 aggregate principal amount of senior notes in a registered public offering. The senior notes will be guaranteed on an unsecured unsubordinated basis by MasTec's domestic subsidiaries that guarantee MasTec's existing credit facility. MasTec intends to use a portion of the net proceeds from the senior notes offering to fund the repurchase of MasTec's $150 million aggregate principal amount of 7.625% senior notes due 2017 pursuant to MasTec's separately announced concurrent tender offer and consent solicitation, to fund the redemption of any such notes not tendered in the tender offer and to repay the outstanding balance under MasTec's existing credit facility. MasTec expects to use the remaining net proceeds for working capital and other general corporate purposes. Pending such usage, MasTec expects to invest the proceeds in short term instruments. Barclays, Morgan Stanley and SunTrust Robinson Humphrey are acting as joint book-running managers of the offering. Full Article
Mastec Inc Announces Resignation Of President-Form 8-K
Mastec Inc reported in its Form 8-K that on December 31, 2012 (termination date), Ray Harris resigned as President of MasTec, Inc., to pursue other opportunities. Full Article
Mastec Inc Reaffirms FY 2012 Guidance; Issues Q4 2012 Guidance
Mastec Inc announced that for fiscal 2012, it expects revenue of $3.66 billion, continuing operations adjusted EBITDA of $325 million and continuing operations adjusted diluted earnings per share of $1.50. For fourth quarter of 2012, it expects revenue of $866 million, continuing operations EBITDA of $92 million and continuing operations diluted earnings per share of $0.45. Full Article
MasTec, Inc. Raises FY 2012 Guidance; Issues Q3 0212 Guidance
MasTec announced that it is raising its fiscal 2012 guidance to revenue of $3.55-3.60 billion, EBITDA of $325 million and fully diluted earnings per share of $1.50. For the third quarter of 2012, the Company expects revenue of $950 million to $1 billion, EBITDA of $100 million and fully diluted earnings per share (EPS) of $0.52. Full Article

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