MasTec, Inc. (NYSE:MTZ) Q3 2019 Earnings Conference Call - Final Transcript

Nov 01, 2019 • 09:00 am ET


MasTec, Inc. (NYSE:MTZ) Q3 2019 Earnings Conference Call - Final Transcript


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Welcome to MasTec's Third Quarter 2019 Earnings Conference Call. Initially broadcast on November 1st, 2019. Let me remind participants that today's call is being recorded. At this time, I would like to turn the call over to Marc Lewis, MasTec's Vice President of Investor Relations. Mark, please go ahead.

J. Marc Lewis

Thank you, Savannah. Good morning everyone and welcome to MasTec's Third Quarter Conference Call. The following statement is made pursuant to the Safe Harbor for forward-looking statements described in the Private Securities Litigation Reform Act of 1995; in these communications, we may make certain statements that are forward-looking, such as statements regarding MasTec's future results, plans and anticipated trends in the industries where we operate. These forward-looking statements are the company's expectations on the day of initial broadcast of this call and the company does not undertake to update these expectations based on subsequent events or knowledge, various risks, uncertainties and assumptions are detailed in our press releases and filings with the SEC. Should one or more of these risks or uncertainties materialize or should any of our underlying assumptions prove incorrect, actual results may differ significantly from results expressed or implied in these communications.

In today's remarks by management, we will be discussing adjusted financial metrics as discussed and reconciled in yesterday's press release and supporting schedules.

In addition, we may use certain non-GAAP financial measures in this conference call. A reconciliation of any non-GAAP financial measures not reconciled in these comments to the most comparable GAAP financial measure can be found in our earnings release, our 10-Q or in the posted PowerPoint presentation located in Investors and News sections of our website located at MasTec'

With us today, we have Jose Mas, our CEO; and George Pita, our Executive Vice President and Chief Financial Officer. The format of the call will be opening remarks analysis by Jose followed by a financial review from George. These discussions will be followed by a Q&A period and we expect the call to last about 60 minutes.

We had another great quarter, have a lot of important things to talk about today. So, I'll now turn it over to Jose to get going. Jose?

Jose Ramon Mas

Thanks, Mark. Good morning and welcome the MasTec's 2019 third quarter call.

Today, I'll be reviewing our third quarter results as well as providing my outlook for the markets we serve. First, some third quarter highlights. Revenue for the quarter was $2.17 billion, adjusted EBITDA was $252 million, adjusted earnings per share was $1.73, year-to-date cash flow from operations is $441 million and backlog at quarter end was $7.5 billion.

In summary, we had another excellent quarter and are on track for another record year. More importantly, it seems like the number and size of opportunities continues to increase. The CEO of Verizon recently said that 5G technology is ultimately one of the most important infrastructures for the 21st century. We are entering one of the most exciting periods in the history of telecommunications. The deployment of 5G wireless technologies