MasTec is Telco/Power/O&GPipe/Renewable. MasTec also has a record company backlog. MasTec's backlog is at $10.6B and is the first time they've ever exceeded $10B. MasTec trades at 23x earnings. MasTec projects 2022 EBITDA of $750M. This puts MasTec at EV/EBITDA of 9.9x. MasTec looks at 2022 as a transition year. I believe MasTec is worth $90+. Company insiders own over 20% of the float and MasTec's largest customer is AT&T (T) which is ramping up activity in wireless/5G as planned. MasTec's largest communications customers also include Verizon, T-Mobile and Dish -- all of which are increasing their activity. MasTec sees this as part of ramping up a long cycle.
Non-Telco MasTec has other lines of business aside from Telco. MasTec dialed back 2022 guidance because of Oil and Gas slowdowns and because a project is being pushed back a couple quarters and so this should swing back next year. MasTec views Biden's solar executive order as beneficially as soon as next year. The supply chain is being impacted by inflation but progress is being made. There is a lot of potential in the future growth of wind energy based on new transmission routes being put into place to capture wind energy.
In @ $41.50. Infra-structure company which has been trending down. Dropped today at "news" of quarterly report date.
"MasTec, Inc. is an infrastructure construction company. The Company operates primarily across North America through a range of industries. The Company operates through five segments: Communications, Oil and Gas, Electrical Transmission, Power Generation and Industrial, and Other. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline/fiber, satellite communications and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; conventional and renewable power generation, and industrial infrastructure. The Company offered its services primarily under the MasTec service mark and had operations across 510 locations as of December 31, 2016. It provides services under master service and other service agreements, which are generally multi-year agreements."
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