MasTec Inc at DA Davidson Diversified Industrials & Services Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Brent Thielman - D.A. Davidson Companies - Analyst : Appreciate that, JosT. And look, you've been really transparent. You're not really in the market for any big transactions right now. You've done those -- maybe you look at bolt-on tuck-in M&A, et cetera. Is that a function of -- you like where you're at with the business? You have other identifiable sort of deployment opportunities internally. You don't like valuations you're seeing. Maybe, yes, to all, what do you think there?

Question: Brent Thielman - D.A. Davidson Companies - Analyst : JosT, that's great. Maybe on just on communications, it seems like you're sort of at an inflection point after some softer conditions here in the last year or so. The extended territory with AT&T, I mean, it's a really nice addition to your business. And how is that progressing so far? I know it's sort of anticipated to progressively ramp.

Question: Brent Thielman - D.A. Davidson Companies - Analyst : JosT, maybe just back on the tariff capture that you had here, are there other sort of similar opportunities that seem to be of scale out there? And what's the frequencies, these sorts of opportunities? And your success with this, does that potentially play into T-Mobile as well in terms of winning more work? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 19, 2024 / 7:00PM, MTZ.N - MasTec Inc at DA Davidson Diversified Industrials & Services Conference

Question: Brent Thielman - D.A. Davidson Companies - Analyst : Okay. And when do you think this open RAN transformation really starts to accelerate for you because the second half ramp, it's hard to tell what's the tarrif capture versus that sort of work picking up?

Question: Brent Thielman - D.A. Davidson Companies - Analyst : Okay. Fair enough. You talked a little bit about it about public capital flow, be it -- I mean goes beyond that into data center proliferation and especially in the wire line. And then I guess one question would be, are you starting to have any preliminary discussions with hyperscalers around what they may potentially want to do in the wireline side. And I guess just more broadly, can you provide the full spectrum of services wireline that you think is needed out there right now?

Question: Brent Thielman - D.A. Davidson Companies - Analyst : Very good. Maybe going to clean energy, JosT, certainly one of the concerns and I'm sure you've gotten a little bit of this is just around the timing of solar projects, whether that's investigations, IRS guidance, permitting, et cetera. How are you navigating that?

Question: Brent Thielman - D.A. Davidson Companies - Analyst : And JosT, clarification on that access. So my question is that go beyond the backlog that you've already got in place today, when you think about that visibility into 2025,

Question: Brent Thielman - D.A. Davidson Companies - Analyst : That's great. You talked about this investment team. I mean, the margin profile and continuing to work towards that clean energies, one component of that. Is there anything you can tell us in terms of some of the underlying awards you're starting to see in the business and the progress that you think you're making on the bid margins on those awards?

Question: Brent Thielman - D.A. Davidson Companies - Analyst : That's great. Power delivery. You mentioned interconnects and permitting ship with well, I mean made tremendous opportunity in transmission work. Obviously, I think that's known this big projects indicative of that that you've won. I know you've said there's more out there. We can see visibly there's a lot more out there. Maybe talk about what the bid or prospect pipeline looks like for you. And I think the question JosT is, what's your capacity to do a lot more than what you've already signed up to do?

Question: Brent Thielman - D.A. Davidson Companies - Analyst : JosT, you've sort of talked about these projects getting the one. You've been awarded -- should be accretive to your margin profile in that segment. Do you think about this over time? Is there sort of an optimal mix for that segment between small and large that you want to stay within and I guess also pose? A also JosT, how do you manage individual risk? I mean, that's a big program?

Question: Brent Thielman - D.A. Davidson Companies - Analyst : Okay. Last but not least, oil and gas. I think there's some interesting dynamics there behind the scenes. I mean, I don't want to be overly optimistic but there's been a lot of recent announcements around gas-fired power. There's data centers talking about backup generation. Presably some of that's going to be fueled by gas or something else. I know, you talked about this being sort of the two billion-ish a year business. Do you think that landscape is changing with some of the things that are starting to trickle into the market in terms of news flow from utilities and where they want to go.

Question: Brent Thielman - D.A. Davidson Companies - Analyst : I mean, touching on our limits here. JosT, you've given us a lot. Appreciate that. Final thoughts, something you want to share to investors here about how can we think about the story next 12, 18 months?

Question: Brent Thielman - D.A. Davidson Companies - Analyst : Good. Thank you.