MasTec: Secular Trends, Regulatory Tailwinds, And Improving Execution Should Drive Upside
MasTec(MTZ) Seeking Alpha·2024-07-02 03:13
In Q1 2024, the Communications segment's adjusted EBITDA margin declined by 100 bps Y/Y due to operating deleverage on lower revenues. In the Power Delivery segment, the adjusted EBITDA margin contracted by 210 bps Y/Y as a result of reduced productivity due to the impact of increased overhead costs incurred to maintain operating capacity as well as operating deleverage on lower revenues. Conversely, adjusted EBITDA margin in the Oil & Gas segment and Clean Energy & Infrastructure segment expanded by 890 bp ...