{"id":29296,"date":"2025-03-03T13:06:10","date_gmt":"2025-03-03T21:06:10","guid":{"rendered":"https:\/\/essential.construction\/news\/mastec-positions-itself-for-oil-and-gas-renaissance\/"},"modified":"2025-03-03T13:06:10","modified_gmt":"2025-03-03T21:06:10","slug":"mastec-positions-itself-for-oil-and-gas-renaissance","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/mastec-positions-itself-for-oil-and-gas-renaissance\/","title":{"rendered":"MasTec positions itself for oil and gas \u2018renaissance\u2019"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><\/p>\n<p>            <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.constructiondive.com\/static\/images\/audio_icon.svg?482016190122\" alt=\"-\"><\/p>\n<p>        Listen to the article<br \/>\n        <span class=\"text-to-speech__button__audio-length\">4 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"http:\/\/res.cloudinary.com\/dmgi9movl\/video\/upload\/q_1\/v1741014341\/news\/text_to_speech\/mastec-positions-itself-for-oil-and-gas-renaissance_mjxdkt.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have <a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/contact\/\" target=\"_blank\">feedback<\/a>.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<p><span><span><span><span><span><span>Despite investor uncertainty and a changing regulatory political landscape, MasTec has never been better positioned to capitalize on its portfolio of offerings, CEO Jos\u00e9 Mas claimed during the company\u2019s full-year earnings call on Feb. 28.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cI&#8217;ve never seen the demand momentum and the number of opportunities for our collective business,\u201d Mas told analysts. He added that a \u201cgas-fired generation renaissance\u201d was on the horizon.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<figure class=\"image-right inside_story\">\n<div class=\"figure_content\">\n<div><img decoding=\"async\" alt=\"A headshot of Jos\u00e9 Mas, CEO of MasTec.\" data-imagemodel=\"158729\" src=\"https:\/\/imgproxy.divecdn.com\/_qZQGlz6eun53QG8v_6heoxo4ED4Dn84SB1XwitjCvc\/g:nowe:47:84\/c:257:321\/rs:fit:0:860\/Z3M6Ly9kaXZlc2l0ZS1zdG9yYWdlL2RpdmVpbWFnZS9Kb3NlX01hcy5qcGc=.webp\"\/><\/div>\n<\/div><figcaption class=\"inside_story_caption\">\n<p>Jos\u00e9 Mas<\/p>\n<p>Permission granted by MasTec<\/p>\n<p>\u00a0<\/p>\n<\/figcaption><\/figure>\n<p><span><span><span><span><span><span>MasTec, which is headquartered in Coral Gables, Florida, specializes in engineering, installation and maintenance of communications, energy and utility infrastructure. The company\u2019s niches coincide with executive orders from President Donald Trump to <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.esgdive.com\/news\/trump-pauses-renewable-projects-leasing-on-federal-lands-waters-interior-executive-order\/738647\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>cut back on sustainable energy projects<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> and <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/trump-executive-orders-energy-permits-nepa\/738089\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>ease regulations on oil and gas builds<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> in the U.S.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>To that end, Mas said that customers across MasTec\u2019s business portfolio are discussing projects and deals up to a decade down the road.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThe overarching theme is the unprecedented level of demand on our communication, power delivery, generation, civil and pipeline infrastructure customers,\u201d Mas said. \u201cIn every segment we operate, our customers are facing increased demand for their services.\u201d\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>Policy jitters<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><span><span>At the same time, amid that enthusiasm Mas said that, over the past month, investors have also been spooked by the political landscape, which includes the freezing of <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.utilitydive.com\/news\/trump-funding-freeze-iija-ira-projects\/738628\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>Infrastructure Investment and Jobs Act and Inflation Reduction Act funds<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, as well as potential weaker demand for power due to the <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.ciodive.com\/news\/DeepSeek-hype-CIO-approach-strategy-AI-model\/738846\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>emergence of DeepSeek<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> in the artificial intelligence space.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cObviously, there&#8217;s a lot of noise out there. You had the executive order on wind [power]. You&#8217;ve got a lot of talk about what&#8217;s going to potentially happen with IRA or not. Irrespective of those conversations, and what might come out of that, we&#8217;re still incredibly bullish about 2026,\u201d Mas said in response to an investor question.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<h3 class=\"standard-heading\"><span><span><span><strong><span><span>The numbers<\/span><\/span><\/strong><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><span><span>MasTec reported $3.4 billion in revenues for the fourth quarter, a 4% rise from a year ago. For the full year 2024, the company posted $12.3 billion in revenue, a 3% increase,\u00a0 according to a <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.mastec.com\/press-release\/2357\/mastec-announces-fourth-quarter-and-annual-2024-financial-results-with-record-bac\" target=\"_blank\"><span><span><span><span><span><span><span><span>Feb. 27 news release<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The company saw $74.7 million in profit for Q4, up from $753,000 a year earlier. It had $162.8 million in profits for the year, reversing course from a $49.9 million loss for all of 2023.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>In particular, Mas highlighted the firm\u2019s clean energy and infrastructure, communications and power delivery businesses, which increased revenue 21% year-over-year.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>In contrast, Mas said that the firm expected its pipeline business to decline compared to 2024, due to the completion of the <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/mountain-valley-pipeline-construction-complete\/718660\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>$7.85 billion Mountain Valley Pipeline<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> project in June and large activity slows.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The company reported a backlog of $14.3 billion, up 15% from 2023\u2019s $12.4 billion, per the release.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>In 2025, the company expects full year 2025 revenue to be $13.45 billion, per the release.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cWhile our financial metrics in 2024 were much improved, we also have the ability to meaningfully improve margins,\u201d Mas said. \u201cThat opportunity for improvement is actually what I&#8217;m most excited about.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/mastec-positions-itself-for-oil-and-gas-renaissance\/741360\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to the article 4 min This audio is auto-generated. 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Despite &#8230; <a title=\"MasTec positions itself for oil and gas \u2018renaissance\u2019\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/mastec-positions-itself-for-oil-and-gas-renaissance\/\" aria-label=\"Read more about MasTec positions itself for oil and gas \u2018renaissance\u2019\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[457],"tags":[],"class_list":["post-29296","post","type-post","status-publish","format-standard","hentry","category-construction-dive","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/29296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=29296"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/29296\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=29296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=29296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=29296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}