Mastec Stock Fair Value Calculation – MasTec Q3 2023 Results Show Revenue Growth Despite Challenges, Optimistic Outlook for 2024

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MASTEC ($NYSE:MTZ): MasTec, a publicly traded infrastructure engineering and construction services company, recently reported its Q3 2023 financial results. This growth was driven by a combination of organic growth and acquisitions. This decrease was mainly attributed to restructuring expenses and other non-recurring charges. Despite this, MasTec’s Q3 performance still beat analysts’ expectations.

MasTec has recently won a number of major contracts that are expected to drive growth in the coming quarters. Furthermore, the company has made a number of strategic investments that are expected to yield positive returns in the near future.

Earnings

MASTEC released its earning report of FY2023 Q3 ending September 30 2021, showing a 4.3% decrease in total revenue to 2404.33M USD, however, a 127.2% increase in net income to 111.09M USD. Despite the challenges of the current economic situation, MASTEC has still been able to increase its revenue and net income. The company is optimistic about its future prospects and continues to explore new opportunities to maximize its growth potential.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Mastec. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Mastec. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Mastec. More…

Key Ratios Snapshot

Some of the financial key ratios for Mastec are shown below. More…

Market Price

The company’s stock opened at $51.6 and closed at $48.6, a drop of 5.7% from the prior closing price of $51.6. This came despite a 4% increase in total revenue for the quarter when compared to the same period in 2022. They are continuing to focus on their core businesses and investing in new technology to improve their operations.

The company believes that their investments and efforts will help them achieve continued success in the year ahead. They are also working to expand into new markets, which they believe will open up new opportunities for growth. MasTec_Q3_2023_Results_Show_Revenue_Growth_Despite_Challenges_Optimistic_Outlook_for_2024″>Live Quote…

Analysis – Mastec Stock Fair Value Calculation

At GoodWhale, we conducted an analysis of MASTEC‘s financials to estimate its intrinsic value. Using our proprietary Valuation Line, we calculated the intrinsic value of MASTEC’s share to be around $116.4. Currently, MASTEC’s stock is trading at $48.6, which means it is undervalued by 58.2%. This presents a great opportunity for investors to purchase MASTEC’s stock at a discounted price. More…

Peers

In the engineering and construction services industry, MasTec Inc faces competition from Assystem SA, Quanta Services Inc, and Elecnor SA. These companies are all large, international competitors with significant market share. While MasTec Inc has a strong presence in the United States, these companies have a strong international presence and are able to compete on a global scale.

– Assystem SA ($LTS:0OA7)

Assystem SA is a French engineering and consulting company. It was founded in 1966 and has since grown to become one of the largest engineering firms in the world. The company has a market capitalization of 547.52 million as of 2022 and a return on equity of 8.74%. Assystem SA provides engineering and consulting services to a variety of industries, including aerospace, defense, energy, transportation, and construction. The company has a strong presence in Europe, North America, and Asia.

– Quanta Services Inc ($NYSE:PWR)

Quanta Services, Inc. provides specialty contracting services in the United States, Canada, Australia, South America, and select other international markets. The company operates through Electric Power Infrastructure Services and Pipeline Infrastructure Services segments. The Electric Power Infrastructure Services segment engages in the installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, including substations, underground and overhead conductor systems, and wireless and fiber optic communication systems. This segment also provides asset management services; and turnkey installation and maintenance services for solar power generation systems. The Pipeline Infrastructure Services segment engages in the construction, upgrade, repair, maintenance, and decommissioning of natural gas and oil pipelines, natural gas gathering systems, and other pipeline infrastructure; and provides asset management services. This segment also offers horizontal directional drilling services for the installation of pipelines and conduit systems. The company was founded in 1997 and is headquartered in Houston, Texas.

– Elecnor SA ($LTS:0K97)

Electricnor SA is a Spanish engineering and construction company. It focuses on the development, design, and construction of renewable energy projects, mainly wind farms. As of 2022, it has a market capitalization of 850.99 million dollars and a return on equity of 18.71%.

Summary

MasTec reported revenue growth for Q3 2023, despite facing challenges in the market. The company’s stock price moved down on the same day the earnings call was released. Investors should carefully consider the overall financial performance of the company when evaluating its potential for long-term growth.

MasTec’s Q3 results are encouraging, as they demonstrate the company’s ability to remain successful even when market conditions are difficult. Investors should take into account MasTec’s overall financial performance, current and future market conditions, and competitive landscape when considering an investment.