mastec , inc. is an american multinational infrastructure engineering and construction company based in coral gables , florida .

limited to the engineering , building , installation , maintenance and upgrade of energy , utility and communications infrastructure , including electrical utility transmission and distribution , power generation , natural gas and petroleum pipelines , wireless , wireline and satellite communications , wind farms , solar farms and other renewable energy , industrial infrastructure and water and sewer systems .

its customers are primarily in the utility , communications and government industries .

the company 's core services are the engineering , building , installing , maintaining and upgrading of infrastructures .

the company was founded by jorge mas canosa , father of current ceo jose mas , and it was listed on the nyse in 1998 .

mastec , inc. is the second largest hispanic-owned company in the united states , and has over 20,000 employees in north america .

mastec

principal subsidiaries : mastec north america , inc . ; mastec brazil s . a .
glassdoor has 339 mastec reviews submitted anonymously by mastec employees . read employee reviews and ratings on glassdoor to decide if mastec is right for you .
( 98 % owned by mastec , inc . ) ( 2 % owned by mastec international holdings , inc . )
mastec , inc . - company profile , information , business description , history , background information on mastec , inc .
mastec is phasing out individual company branding in its wireless division and is providing those services under a single organization known as mastec network solutions .
, inc . and mastec brazil , s . a . still , for fiscal 2001 mastec posted a loss of $ 92 . 35 million in revenue
mastec inc is a small business with 20 to 49 employees . categorized under telephone communications , mastec inc has an annual revenue of $ 5 to 10 million . mastec inc is a public business located in pittsburg , ks .
mastec goes public ; its stock is traded on the new york stock exchange .
formerly known in the marketplace as nsoro mastec , optima network services , camcom , mastec network services , dynamic tower services , data cell systems , and dynis .
approximately 70 % of westower’s business is where mastec has limited or no business .
1 mastec front desk receptionist jobs in cape coral , florida found on monster .
follow changes in mastec , inc . executives ' and board members ' employment .
in 1996 , mastec bought sistemas e instalaciones de telecomunicacion , s . a . (
mastec provides turnkey solutions for a variety complex civil infrastructure projects or specialized foundation construction .
mastec price target raised to $ 47 . 50 from $ 36 at craig - hallum
mastec acquires canadian oil and gas pipeline and facilities contractor big country energy services inc .
mastec acquires canadian oil and gas pipeline and facilities contractor big country energy services inc .
burnup & sims ( b & s ) , earliest forerunner of mastec , is founded .
wireless contractor mastec network solutions was one of those heralded for their “commitment to collaboration . ”
credit suisse analyst jamie cook started mastec with a neutral rating and a $ 42 price target .
mastec specializes in providing infrastructure and engineering services for the government , home security and telecommunication industries .
sign up for equilar boardedge and view profiles of mastec , inc . executives and board members .
cnw | mastec acquires canadian oil and gas pipeline and facilities contractor big country energy services inc .
communications , electrical and natural gas distribution infrastructure . mastec – utility services * . . . .
mastec has acquired halsted communications ltd . , a residential installation contractor whose primary customer is directv .
mastec has been involved in some of the largest and most complex infrastructure construction projects across the country .
the following mastec entities have current openings , please select an entity based on your area of interest .
it will also assist mastec in additional implementation for its largest wireless carrier client , at & t .
. the similar entrepreneurial histories , blended cultures , experienced operators and powerful strengths of burnup & sims and church & tower , now mastec , fuel the growing momentum that will drive mastec into the next century .
mastec chairman mas canosa died in 1997 ; his son , jorge , jr . , succeeded him . newly acquired sintel allowed mastec to profit from the now deregulated spanish market and establish itself in latin america , primarily in the rapidly growing telecom markets of argentina and brazil . in july 1997 the company formed mastec inepar and held a 51 percent interest in the brazilian company . by the end of the year , mastec had acquired 16 domestic and three foreign companies . the following year , as part of a consolidation plan , mastec sold 87 percent of sintel and developed a company - wide marketing plan to emphasize the mastec brand name .
s chairman and jorge mas was named president and chief executive officer . mastec was now a regarded as a
mastec provides turnkey solutions for water & sewer , and distribution transmission systems , including treatment plants and facilities .
at mastec , you can get involved with projects ranging from alternative energy to national security and land development .
the delayed start of its ruby pipeline will shift revenue and margin into the fourth quarter , mastec said .
mastec , inc . 800 s . douglas road 10th floor coral gables , fl 33134 305 . 599 . 1800
s chairman , and jorge mas was named president and chief executive officer . mastec was now a regarded as a
, venezuela . furthermore , video cable comunicacion , s . a . awarded a design - build contract to mastec
( 99 % owned by dresser acquisition company ) ( 1 % owned by mastec international holdings , inc . )
but during the same week that 2 . 4 million wsj readers were being informed about mastec’s commitment to excellence , at & t put a freeze on almost all of mastec’s work if it wasn’t already shovel ready or in progress .
the next acquisition for mastec occurred in 2012 when it purchased louisiana - based dynamic tower services , inc . , a self - perform wireless construction contractor , which further increased mastec’s capability to vertically integrate their wireless infrastructure construction services .
coming into thursday ' s second - quarter financial report , mastec investors had high hopes for solid gains in revenue and earnings . yet even mastec itself seemed surprised by just how well it did during the second quarter . let ' s take a closer look at mastec and what its latest results say about the company and its industry going forward .
mastec , inc . .
international directory of company histories . . retrieved july 09 , 2018 from urltoken urltoken
mastec , inc . .
international directory of company histories . . retrieved july 09 , 2018 from urltoken urltoken
todd joined mastec network solutions as the director of operational finance in june 2011 and was promoted to cfo in 2015 .
goodman networks is not the first turfing contractor to hire a key at & t executive . mastec network solutions hired rick suarez who was at & t’s southeast vice president of construction and engineering . he currently serves as mastec network solutions’ president .
in a reverse acquisition , ctf acquires 65 percent of b & s , which changes its name to mastec , inc .
management at mastec decided to divest some b & s acquisitions not related to its core operations , specifically floyd theaters , lectro products , and southeastern printing . the proceeds were used to reduce debt and finance the acquisition of other companies related to mastec
s operating expenses and enhanced service capability in the region . mastec won new contracts to install telecommunications networks in the dallas /
in a major acquisition , mastec bought sintel , s . a . , the engineering and installation unit of telefonica de espa
communication technology is constantly evolving , and mastec is not only keeping pace with that evolution , we ' re driving it .
mastec constructs a full range of oil & natural gas pipelines and transmission systems , from the wellhead to the end user .
mastec network solutions 806 douglas road , suite 1100 , coral gables , fl 33134 + 1 . 866 . 545 . 1782
mastec was created from the combination of two telecommunications construction and service companies with similar entrepreneurial spirits - - burnup & sims and church & tower . . . . the similar entrepreneurial histories , blended cultures , experienced operators and powerful strengths of burnup & sims and church & tower , now mastec , fuel the growing momentum that will drive mastec into the next century .
domestically , through its aggressive acquisition strategy , mastec acted as a consolidator of thousands of mom - and - pop operators to create a national network of contractors that could provide service wherever it had clients . mastec provided outside plant services to local exchange carriers
since joining mastec in 1994 , ramon has held several senior management positions and has contributed to the implementation of administrative and operational procedures for various mastec divisions nationwide . ramon is credited with developing the wireless and central office ( ef & i ) service lines within mastec and later served as president of the network services group which encompassed wireless , ef & i and enterprise network services .
- - - - - - ,
s & p downgrades mastec bonds ,
miami herald , march 18 , 2003 .
mastec celebrated by offering its employees a new stock - purchase program that enabled them to buy stock at a 15 percent discount .
mastec derived a large amount of its revenue from telecommunications clients . however , as rolf boone observed in a 2002 article in the
s information technology functions . as a result , mastec was refocused on telecom , broadband , intelligent traffic systems , and energy .
mastec then acquired utility line maintenance , inc . , a company engaged in clearing right - of - ways for utilities in southeastern
launch your career with mastec network solutions and gain access to a variety of opportunities in a challenging , rewarding and innovative environment .
dan caplinger has no position in any stocks mentioned . the motley fool recommends mastec . the motley fool has a disclosure policy .
as leaders in smart grid technology installation , mastec is assisting utility companies to optimize their existing network of substations and switchyards to meet increasing power demands . mastec upgrades and / or integrates new equipment to facilitate more efficient and reliable energy distribution through monitoring systems .
( catv ) communications systems , public utilities , and the traffic - control and highway - safety industry . additionally , mastec builds coaxial fiberoptic cable networks and wireless - antenna networks . inside buildings , the company installs and maintains telecommunications equipment and communications networks . mastec
lunan , charles ,
mastec buys firm in spain ,
sun - sentinel , april 2 , 1996 , p . d2 .
with more than 300 offices throughout the united states and canada , mastec employees have the flexibility to work in a variety of locations .
part of mastec’s success has been through buying underperforming companies , and mas said that he believes the westower transaction will follow that model .
keybanc analyst tahira afzal said ferc aprpoved the commencement of construction on the bulk of the rover pipeline , which should address some lingering concerns for mastec surrounding the timeline . afzal said the approval adds comfort around mastec ' s near - term earnings outlook and his estimates .
mastec has a solid long - term capital structure , with low rates and no significant near - term maturities . as of year - end 2016 , mastec had liquidity of over $ 440 million , which provides full financial flexibility to take advantage of various growth opportunities .
mastec network solutions | 806 douglas road , suite 1100 , coral gables , fl 33134 | + 1 . 866 . 545 . 1782
management at mastec decided to divest some b & s acquisitions not related to its core operations , specifically floyd theaters , lectro products , and southeastern printing . the proceeds were used to reduce debt and finance the acquisition of other companies related to mastec ' s core business .
mastec began to consolidate its many subsidiaries into two major groups : mastec north america , inc . and mastec brazil , s . a . still , for fiscal 2001 mastec posted a loss of $ 92 . 35 million in revenue - - due primarily to increases in bad debt expense of $ 182 . 2 million during the year . in august of that year , citron resigned and was replaced as president and ceo by austin j . shanfelter . a new executive vice - president and cfo , donald p . weinstein , was named in january 2002 .
boone , rolf ,
mastec focusing on new options for cable news ,
wenatchee business journal , october 2002 , p . s4 .
s recovery . mastec management was similarly hopeful , even confident , that the company was well - prepared to increase profits and cash flow .
mastec , inc . .
international directory of company histories . . encyclopedia . com . ( july 9 , 2018 ) . urltoken
mastec , inc . .
international directory of company histories . . encyclopedia . com . ( july 9 , 2018 ) . urltoken
from the electric power plant , to the substations and to your business and home , mastec consistently delivers successful electrical transmission and distribution services .
mastec network solutions is the primary wireless construction vendor for a major wireless carrier in the southeast and mid - west regions of the country .
mastec did not provide the purchase amount they paid for dts and it is expected that they will not provide that information for data cell .
todd believes that mastec is well positioned to capitalize on all of the opportunities that come from the change and perpetual growth of the telecom industry .
rick suarez leads mastec network solutions , a worldwide telecom industry leader , as group president . he is responsible for the financial well - being of the company , business growth , and bottom line performance . rick has the overall responsibility for planning and implementing the strategic direction of mastec network solutions .
during his tenure at the “parent company” , ramon served as senior vice president of business development for mastec , inc . in this role , ramon was responsible for new business opportunities while expanding existing business relationships across all divisions of the mastec family of companies and across several industries , including governmental agencies . ramon also served as director of diversity where he oversaw mastec’s minority supplier development program and built strong strategic alliances with various regional minority councils nationwide .
s leading companies of its kind and the fifth - largest hispanic - owned public company . to express their entrepreneurial spirit as concisely as possible , mastec
contracts poured in . ibm chose mastec to install and maintain services for its rapid network deployment program , a project that meant installing more than 1 , 200 medical kiosks in hospital emergency rooms . comcast cable communications awarded mastec a five - year contract to help build an advanced fiber - optic network in comcast territories . the state of florida chose mastec to design and install an end - to - end fiber optic network along 2 , 200 miles of florida
at mastec , safety isn & apos ; t just a priority - it & apos ; s a core value . safety is a mindset and an attitude that all mastec employees carry with them on a daily basis . as a member of the nccr , national safety council , osha electrical transmission & distribution safety partnership and numerous other safety organizations and safety auditing programs , mastec is committed to continuous improvement in safety with a common goal of zero injuries .
mastec competed in the new markets created by these developments by concentrating on additional relevant acquisitions and on expansion of its core telecommunications services . in a major acquisition from telefonica - - the largest telecommunications infrastructure contractor in spain - - in 1996 , mastec bought sistemas e instalaciones de telecomunicacion , s . a . (
sintel
) . this positioned mastec to take advantage of the increased competition anticipated in europe and the rapid upgrading of telecommunications services expected in latin america . the purchase more than doubled the size of mastec , and gave it access to sintel ' s established operations in spain and in latin america .
s & p cuts mastec inc . [ bonds ] to junk status ,
standard & poor ' s ratings services , march 18 , 2003 .
mastec offers competitive compensation for professional , skilled and hourly employees . qualified mastec employees are covered by a variety of health insurance plans nationwide , with dental , health , vision care , short - and long - term disability , basic life , ad & d , and supplemental life and ad & d offerings .
mastec network solutions provides engineering , furnishing and installation ( ef & i ; ) services for several oems throughout the nation via in - house certified installers .
mastec is banking on westower’s revenues shoring up its stock and is expected to present that case during its q3 earnings call on oct . 30 , 2014 .
kevin is mastec network solutions executive vice president – west . he is responsible for turf operations and construction services in the central and west . he oversees the national program & project management office , including mastec network solutions’ national relationships with at & t , the national pricing and rfp desk , and national quality teams .
the limitations of analog networks propelled the upgrade and installation of digital networks , which were more efficient . mastec increased its penetration into this market by combining two subsidiaries
mastec supports more than 300 , 000 customers per month with staffing , training , supply chain , call center , reporting and analytics , technology solutions and more .
mastec shareholders were happy with the news , and the stock jumped more than 7 % in after - hours trading following the announcement . if the energy market can keep making progress from its recent downturn , then mastec could be in an even better position to benefit and keep its upward momentum going throughout 2017 and beyond .
although exact numbers are not available from mastec , it appears that they are now equal in wireless service employee count to the nation’s largest contractor , westower communications .
contracts poured in . ibm chose mastec to install and maintain services for its rapid network deployment program , a project that meant installing more than 1 , 200 medical kiosks in hospital emergency rooms . comcast cable communications awarded mastec a five - year contract to help build an advanced fiber - optic network in comcast territories . the state of florida chose mastec to design and install an end - to - end fiber optic network along 2 , 200 miles of florida ' s turnpike and interstate highways . from the texas department of transportation mastec won a single contract totalling $ 740 , 000 to upgrade a lighting system along the main artery linking galveston island with the mainland . acquisitions continued apace , and by 2000 mastec reported record revenues of $ 1 . 33 billion , some $ 55 . 31 million of which came from brazilian operations .
mastec competed in the new markets created by these developments by concentrating on additional relevant acquisitions and on expansion of its core telecommunications services . in a major acquisition from telefonica
jose r . mas , is chief executive officer of mastec , inc . , one of the largest and most diversified u . s . infrastructure services providers in the country . with over 18 , 000 employees in more than 400 locations across the united states , mastec generated over $ 4 . 3 billion in revenue in 2013 .
with 80 years of experience and a workforce of nearly 22 , 000 skilled professionals , mastec has the expertise and resources required to reliably deliver innovative solutions , everytime .
mastec network solutions is always looking for qualified project managers , construction manager , technicians , and accounting professionals . we offer competitive benefits and valuable training and development opportunities .
in addition , at & t’s mid - may freeze of projects that weren’t shovel - ready affected westower’s cash flow and they began laying off workers , as did mastec . within six weeks the freeze shaved an anticipated $ 45 - $ 50 million in revenues , according to mas , and mastec had to issue guidance to analysts .
although the acquisition doesn’t assist in fulfilling the workforce shortage , for mastec it could result in higher profit margins as carriers continue to offer considerable bonuses for site completions .
keybanc says that the underperformance , of mastec ' s stock in 2017 , which the firm attributes to rover pipeline concerns , has created an attractive entry point . after meeting with mastec ' s management , keybanc expects rover to be approved and thinks that strong execution by the company could enable its fiscal 2017 eps to beat expectations .
to contact mastec inc , please visit . company data is provided by s & p ; global market intelligence . please use this form to report any data issues .
safety is a mindset and an attitude that all mastec employees carry with them on a daily basis . as a member of the nccr , national safety council , osha electrical transmission & distribution safety partnership and numerous other safety organizations and safety auditing programs , mastec is committed to continuous improvement in safety with a common goal of zero injuries .
“mastec is an interesting us infrastructure play as it provides essential engineering and construction facilities for electrical transmission , oil and natural gas pipelines , renewable energy and wireless networks . ”
report no . 2762 , mountain view , calif . : frost & sullivan , 1997 , 430 pp . lunan , charles ,
mastec buys firm in spain ,
mastec is one of the nation ' s leading contractors for the construction and engineering of natural gas power plants , wind farms , solar energy facilities and alternative fuel power plants .
in 1999 , jorge , jr . , retired from day - to - day operations , remaining on - board as chairman . joel - tomas citron was appointed president and ceo of mastec . although for a variety of reasons revenues slipped during this time , mastec remained one of the fastest growing communication and energy infrastructure providers in the united states in 2000 .
with a solid work history and reliability , pumpco , inc . has the ongoing commitment and understanding of customer needs to work alongside mastec for total job satisfaction . their complete range of pipeline - construction services also include maintenance , repair , retirement , and removal services , which supplies mastec with the capacity to offer our customers complete end - to - end solutions .
as mastec entered the second half of the 1990s , the telecommunications industry continued to undergo fundamental changes . the u . s . telecommunications act of 1996 , agreements among countries in the
mastec handles all private , commercial and government wireless construction projects in - house to ensure that our clients & apos ; needs remain the priority at every stage of cell tower development .
wunderlich securities rates shares of mastec ( nyse : mtz ) a buy after the company reported stronger than expected second quarter numbers . it has a $ 13 price target on shares .
mastec created a new service line that included voice and data network installations , power and gas distribution networks , telecommunications infrastructure projects , and intelligent transportation systems ; the company was awarded millions of dollars in contracts for these lines . mastec formed alliances with a number of companies ; for example , it teamed up with lucent technologies to provide infrastructure solutions to the cable television industry , and also formed an alliance with skanska u . s . a . to provide project management and telecommunications infrastructure services throughout north america . mastec also acquired several external network service providers .
mastec created a new service line that included voice and data network installations , power and gas distribution networks , telecommunications infrastructure projects , and intelligent transportation systems ; the company was awarded millions of dollars in contracts for these lines . mastec formed alliances with a number of companies ; for example , it teamed up with lucent technologies to provide infrastructure solutions to the cable television industry , and also formed an alliance with skanska u . s . a . to provide project management and telecommunications infrastructure services throughout north america . mastec also acquired several external network service providers .
mastec network solutions ( mns ) is a division of mastec that provides comprehensive services and turnkey solutions required to design , build , optimize and maintain telecommunications networks . the telecommunications industry is one of the most dynamic industries in the global marketplace today . consumer demand , technological advances , and new networking applications continue to fuel a fast paced business environment . a wholly - owned subsidiary of mastec , inc . ( stock symbol : mtz ) , mns is a telecommunications infrastructure services company that is uniquely positioned to outmatch the demands of this type of business climate .
at this time mastec was one of the nation ' s leading companies of its kind and the fifth - largest hispanic - owned public company . to express their entrepreneurial spirit as concisely as possible , mastec ' s management adopted the former burnup & sims slogan
opening the lines of communication
and added their own vision of the future :
throughout the world .
mastec utility services is a nationwide network of professionals providing critical infrastructure construction and engineering services for communications , power delivery and gas customers , 24 / 7 . utility services specializes in wireline construction for fiber and copper communications networks ; overhead and underground electric distribution for power delivery systems ; and gas distribution construction for gas systems . mastec utility services is committed to safely providing infrastructure that delivers .
the privately owned church & tower group acquired 65 percent of the outstanding common stock of publicly traded burnup & sims , inc . the name of burnup & sims was changed to mastec , inc . , the church & tower group became a wholly owned subsidiary , and the senior management of the ctf group took over leadership of the new entity ; jorge l . mas canosa became mastec
mr . mas was appointed ceo of mastec in 2007 and during his tenure mastec’s revenues have more than quadrupled and earnings have grown six fold . since assuming the top executive position at mastec , jose has diversified the company into the growing fields of oil and gas pipeline construction , electric transmission line construction , renewable energy , and wireless infrastructure construction while expanding its traditional communications business , which includes both broad - band infrastructure and installation to the home satellite services . jose mas has grown up in the business and over 20 years worked his way from the field to the boardroom .
he said that the acquisition will provide significant geographic growth , identifying that the vast majority of westower’s business is in the southwest and western part of the country where mastec has not been very strong .
nsoro also benefited from a revised purchase agreement based upon its earnings before taxes which provided a one - time $ 40 million cash payment plus 1 , 875 , 000 shares of mastec common stock .
, mastec ' s chief financial officer , commented ,
we believe that once westower ' s operations are integrated into mastec billing systems and processes , we will be able to substantially reduce overall working capital levels in these operations by as much as 20 % . we anticipate that this transaction , exclusive of merger integration costs , will be accretive to 2015 diluted earnings per share in the range of
as a worldwide - service provider , mastec network solutions takes great pride in supplying , designing , and supporting technology solutions to the commercial and government verticals . whether our customers need turnkey solutions , site modifications , maintenance , or even logistics management , mastec network solutions maintains a high commitment to safety and ensures their ability to meet our customers ' communication needs with the highest levels of reliability and quality .
as the 21st century drew near , mastec was the nation ' s leading telecommunications company for infrastructure construction and a major supplier of premise - wiring services to fortune 500 companies . in short , mastec was a world leader for the design , construction , and maintenance of leading - edge telecommunications networks and hoped to remain in that position as by
opening the lines of communication throughout the world .
we predominately operate under the mastec brand umbrella across the country , but we also operate under expertise - based entities that we’ve acquired through the years in order to grow our business and support our customers .
b & d contractors of shelby , inc . ; burnup & sims of texas , inc . ; burnup & sims telcom of florida , inc . ; church & tower , inc . ; church & tower fiber tel , inc . ; church & tower of tn , inc . ; designed traffic installation , inc . ; harrison - wright company , inc . ; kennedy cable construction co . , inc . ; mastec comtec of the carolinas , inc . ; mastec comtec of california , inc . ; mastec international , inc . ; mastec technologies , inc . ; r . d . moody & associates , inc . ; r . d . moody & associates , inc . of virginia ; shanco corporation , inc . ; sintel , s . a . ( spain ) ; utility line maintenance , inc .
next , mastec initiated a program for acquiring profitable , market - dominant companies in high - growth metropolitan areas nationwide . the first purchases were that of designed traffic installation , inc . ( an installer of traffic
. at year - end 1994 mastec had met the challenges of establishing itself as a new company ; it reported a net profit of $ 7 . 5 million on revenue of $ 111 . 29 million .
jorge mas has agreed to buy the miami marlins baseball team from owner jeffrey loria for $ 1 . 17 billion , according to a report late monday . mas , the chairman of infrastucture company mastec inc .
he said that mastec contacted ei and the sale resulted in a profit for his company . ei also owns aviation companies and manufacturing plants , but pyle said , “our performance was too dependent on westower . ”
at the time , nsoro’s primary customer was at & t and as it was handed more turfing contracts mastec’s wireless revenue grew from about $ 70 million in 2008 to approximately $ 350 million two years later .
mastec & apos ; s crews stand ready to assist in your disaster recovery efforts with established hurricane / disaster recovery services that insure the proper steps are taken to minimize potential damage resulting from severe weather events .
principal subsidiaries : b & d contractors of shelby , inc . ; burnup & sims of texas , inc . ; burnup & sims telcom of florida , inc . ; church & tower , inc . ; church & tower fiber tel , inc . ; church & tower of tn , inc . ; designed traffic installation , inc . ; harrison - wright company , inc . ; kennedy cable construction co . , inc . ; mastec comtec of the carolinas , inc . ; mastec comtec of california , inc . ; mastec international , inc . ; mastec technologies , inc . ; r . d . moody & associates , inc . ; r . d . moody & associates , inc . of virginia ; shanco corporation , inc . ; sintel , s . a . ( spain ) ; utility line maintenance , inc .
. the company has nearly 1 , 000 clients , none making up more than 10 percent of revenues . besides corporate clientele , mastec is also heavily involved with municipal , state , and federal agencies dealing with transportation , information technology , energy , and intelligent traffic systems . beginning in 2001 , mastec was refocusing its business plan onto maintenance - related businesses and , ultimately , on the needs of residential premises . the company
mastec once again raised its full - year guidance in response to favorable conditions . the company now believes that it will see sales for 2017 come in at $ 6 billion , $ 300 million higher than its previous guidance estimate . adjusted earnings of $ 2 . 73 per share would be 44 % higher than 2016 figures and adds $ 0 . 28 per share to mastec ' s earlier guidance . for the third quarter , mastec expects revenue of $ 1 . 65 billion and adjusted earnings of $ 0 . 73 , and both numbers are just a bit higher than the current consensus among those following the company ' s stock .
domestically , through its aggressive acquisition strategy , mastec acted as a consolidator of thousands of mom - and - pop operators to create a national network of contractors that could provide service wherever it had clients . mastec provided outside plant services to local exchange carriers - - such as bell south telecommunications , inc . ; united telephone of florida , inc . ; and gte corp . - - among others . by year - end 1997 , mastec had 20 multi - year master contracts with regional bell operating companies and other local exchange carriers to meet all of their outside plant requirements according to stipulated costs per job and within a specific geographic areas .
realizing that the telecommunications industry was fragmented and operated mainly by family - owned businesses , mastec initiated a program for acquiring profitable , market - dominant companies in high - growth metropolitan areas nationwide . mastec launched this acquisition program with the purchase of designed traffic installation , inc . , an installer of traffic control systems in southern florida ; and buchanan contracting company , inc . the holder of two master contracts with bellsouth in memphis , tennessee , and montgomery , alabama . furthermore , bellsouth awarded mastec contracts for telephone networks in nashville and franklin , tennessee , as well as for networks in four of north carolina ' s fastest - growing cities .
on march 11 , 1994 - - in a reverse acquisition - - the privately owned church & tower group acquired 65 percent of the outstanding common stock of publicly traded burnup & sims , inc . the name of burnup & sims was changed to mastec , inc . , the church & tower group became a wholly owned subsidiary , and the senior management of the ctf group took over leadership of the new entity ; jorge l . mas canosa became mastec ' s chairman and jorge mas was named president and chief executive officer . mastec was now a regarded as a
minority business enterprise ,
publicly traded on nasdaq under the symbol masx .
on march 11 , 1994 - - in a reverse acquisition - - the privately owned church & tower group acquired 65 percent of the outstanding common stock of publicly traded burnup & sims , inc . the name of burnup & sims was changed to mastec , inc . , the church & tower group became a wholly owned subsidiary , and the senior management of the ctf group took over leadership of the new entity ; jorge l . mas canosa became mastec ' s chairman , and jorge mas was named president and chief executive officer . mastec was now a regarded as a
minority business enterprise ,
publicly traded on nasdaq under the symbol masx .
kevin haynes began his long - standing telecom career in 1984 , after serving in the us army for many years . kevin grew that career primarily with at & t , where he held progressive positions for 24 years before joining mastec network solutions . kevin started with mastec network solutions in 2015 managing overall operations , including human resources , communications , project management organization , quality , pricing , safety , fleet , logistics , vendor management , and information technology .
ready to seize opportunities created by unprecedented changes occurring in the telecommunications industry , mastec decided to divest itself of some subsidiaries - - part of the burnup & sims acquisition - - that were not related to its core operations : floyd theaters , inc . , lectro products , and southeastern printing , inc . the proceeds from the sale of these operations was used to reduce debt and finance the acquisition of other companies related to mastec ' s core business .
, mastec ' s chief executive officer , commented ,
we are very excited about the big country acquisition . this acquisition is consistent with our recent public comments regarding our expansion plans in canada ' s dynamic energy sector .
ballston spa , n . y . - based halsted’s operations , which are primarily in new york , pennsylvania and new england , are to be folded into mastec’s install - to - the - home operations and business with directv .
mastec shares were up 6 cents to $ 17 . 59 in morning trading . the 52 - week high was $ 23 . 17 on april 26 . the 52 - week low was $ 9 . 26 on july 1 .
facing a market that had dried up , shanfelter and weinstein remained cautiously optimistic , reminding the public that mastec had predicted the downtown and was making adjustments accordingly . the company ' s project 2100 was introduced to streamline , downsize , and realize economies through strategic partnerships . another key to the plan was in outsourcing much of the company ' s information technology functions . as a result , mastec was refocused on telecom , broadband , intelligent traffic systems , and energy .
mastec canada inc . is a diversified infrastructure construction company that operates throughout canada with a focus on the four western provinces of british columbia , alberta , saskatchewan and manitoba . mastec canada offers a broad scope of services and is managed by a canadian team that has been working together for the past 12 years . our services include pipeline construction ranging from 2
- 36
; facility construction focusing on wellsites , gas plants , compressor and pump stations ; heavy civil construction , earthworks and concrete ; temporary and permanent buildings construction . primarily serving the role of general contractor , mastec canada inc . has the equipment , experience , personnel and systems to execute complex energy and industrial construction programs safely and efficiently .
by the end of 1995 the company had combined the strengths of its subsidiaries and organized its operations into three principal business segments : telecommunications and related construction services , catv infrastructure construction and maintenance , and general construction services . that year mastec
at & t provided them with no details as to when the deferred projects might resume , and mastec’s overhead hockeysticked as their revenues plummeted , forcing them to reach out to financial analysts and provide adjusted guidance for their second quarter earnings .
further , mastec’s foreign operations are primarily based in canada and mexico . thus , the company is subject to fluctuations in foreign currency exchange rates , when transactions are denominated in currencies other than the functional currencies , which might affect revenues .
mastec advanced technologies is a network of service professionals installing technology solutions to residential and commercial customers throughout the united states . we employ more than 4 , 000 technicians , serve over 125 markets and operate one of the largest fleets in the nation .
the largest hispanic - owned company in florida , mastec , inc . is a leading specialty contractor focusing on end - to - end infrastructure services for telecommunications , energy , broadband , and intelligent traffic systems for a broad range of clients in the
in its wireline and wireless communication markets , mastec expects significant expansion related to both 5g and fiber deployment , as its communications business enjoys solid growth prospects . the company also anticipates significant opportunities related to gigabit broadband initiatives , along with fiber deployment .
by year - end 1996 mastec ' s revenue had increased 171 percent , from $ 174 . 58 million in 1995 to $ 472 . 8 million in 1996 . earnings per share had increased from $ 0 . 50 in 1995 to $ 1 . 20 in 1996 . in january 1997 mastec announced a three - for - two stock split and on february 14 of that year began trading its common stock on the new york stock exchange . president jorge mas , in a company news bulletin released after the new york listing , declared that
mastec ' s joining the world ' s premier exchange is a tribute to the dedication and hard work of its 7 , 000 employees worldwide . the fact that a company formed by cuban exiles is able to trade among the fortune 500 companies is living proof that the american dream is very much alive .
mastec celebrated by offering its employees a new stock - purchase program that enabled them to buy stock at a 15 percent discount .
that were not related to its core operations : floyd theaters , inc . , lectro products , and southeastern printing , inc . the proceeds from the sale of these operations was used to reduce debt and finance the acquisition of other companies related to mastec
in early june he said that he would reassess the loss of the at & t work and might have to consider “rightsizing” , a euphemism for layoffs . and those began this week , according to a number of mastec employees who contacted wireless estimator .
one of the major drivers in the development of new distribution systems is changing technologies , such as plc controls and solid state transformers . as a leader in the deployment of distribution automation equipment , mastec is helping its customers stay abreast with evolving technologies .
another subsidiary , mastec technologies inc . , was established in 1996 to provide management services of wireless networks . in little more than a year the company installed over 130 pcs tower - and - antenna sites for pcs companies , thereby establishing state - of - the - art wireless networks in southern florida , tampa , orlando , and phoenix . by year - end 1996 mastec ' s revenues had increased 171 percent , from $ 174 . 58 million in 1995 to $ 472 . 8 million in 1996 .
mastec also thinks it will be able to sustain its recent strength . in mas ' s words ,
our current performance , coupled with significant opportunities for future growth across all of our segments , position us well for continued long - term growth .
john vento is mastec network solutions executive vice president – east . in his role john is responsible for deployment and project management organization , which includes network design , engineering , site development , site construction and integration services across the united states and puerto rico .
public company incorporated : 1994 as mastec , inc . employees : 7 , 000 sales : $ 472 . 8 million ( 1996 ) stock exchanges : new york sics : 1623 water , sewer and utility lines ; 8741 construction management ; 8742 telecommunications engineering consulting services
prior to buying out shares of church & tower in 1971 and renaming it mastec , mas canosa turned around the failing business by climbing down into ditches , manholes and trenches to observe workers’ construction methods , and working with telephone companies to meet their exacting standards .
the answer for successful companies then - - and now to accommodate lte – appears to be immediate growth through acquisition , as seen last week by the purchase of a major infrastructure contractor , louisiana - based data cell systems , by key industry player mastec network solutions .
the telecommunications act unleashed a building boom in the telecommunications infrastructure industry - - and mastec prospered . in january 1997 the company announced a three - for - two stock split and on february 14 of that year began trading its common stock on the new york stock exchange . president jorge mas , in a company news bulletin released after the new york listing , declared that
mastec ' s joining the world ' s premier exchange is a tribute to the dedication and hard work of its 7 , 000 employees worldwide . the fact that a company formed by cuban exiles is able to trade among the fortune 500 companies is living proof that the american dream is very much alive .
mastec celebrated by offering its employees a new stock - purchase program that enabled them to buy stock at a 15 percent discount .
s leading telecommunications company for infrastructure construction and a major supplier of premise - wiring services to fortune 500 companies . in short , mastec was a world leader for the design , construction , and maintenance of leading - edge telecommunications networks and hoped to remain in that position as by
mastec flirted with buying a number of wireless service companies in the mid to late 1990s , but it wasn’t until 2008 when it became a major player by purchasing infrastructure construction and maintenance company nsoro for $ 17 . 5 million plus the assumption of $ 12 million in indebtedness .
the company with over $ 3 . 6 billion in revenue was founded by jorge mas canosa , father of current ceo jose mas . mastec is the second largest hispanic - owned company in the u . s . , and has over 13 , 000 employees in north america .
craig - hallum analyst christian schwab raised his price target for mastec to $ 47 . 50 from $ 36 after the company reported better than expected results , significantly better q1 eps guidance , and introduced 2017 guidance above expectations . the analyst reiterates a buy rating on the shares .
at mastec , we understand that each job site comes with its own unique characteristics and challenges , and that planning , preparation and communication with our customers is essential to a project & apos ; s success . we have the knowledge and understanding to navigate the complex and continually changing world of regulatory demands , and our team of licensed land surveyors ( pls ) ensure that final grading is administered with the highest levels of professionalism and expertise . no matter what the surrounding environment or obstacles , mastec & apos ; s earthwork crews get the job done right .
next , mastec initiated a program for acquiring profitable , market - dominant companies in high - growth metropolitan areas nationwide . the first purchases were that of designed traffic installation , inc . ( an installer of traffic control systems in southern florida ) and buchanan contracting company , inc . ( the holder of two master contracts with bellsouth in memphis , tennessee , and montgomery , alabama . ) furthermore , bellsouth awarded mastec contracts for telephone networks in nashville and franklin , tennessee , as well as for networks in four of north carolina ' s fastest - growing cities .
mastec derived a large amount of its revenue from telecommunications clients . however , as rolf boone observed in a 2002 article in the wenatchee business journal ,
a funny thing happened on the way to ever - expanding growth and revenue - - the telecommunications bubble burst .
in its 2001 annual report , mastec management noted that
certain segments of the telecom industry suffered a severe downturn that resulted in a number of our clients filing for bankruptcy protection , or experiencing financial difficulties .
even clients not in financial difficulty began limiting capital expenditures for infrastructure projects .
to move forward more aggressively in the energy sector , the company announced that it had made an acquisition of a specialty pipeline equipment leasing company . mastec thinks that by doing so , it should be able to cut its overall equipment costs and gain a competitive advantage over its peers . at the same time , mastec also acquired a provider of infrastructure in the areas of civil engineering , water , sewer , and draining systems , and entering that market should give the company what mas termed
an exciting platform to benefit from increased demand trends in this market .
mastec constructs , installs , and maintains high service pump stations for any water and wastewater management need . whether it & apos ; s lifting potable water to a reservoir for eventual distribution to the community , or pumping treated and sanitized wastewater back to the environment , we work to ensure that all government regulations and customer requirements are met at each stage of delivery . with a continual commitment to safety and environmental stewardship , mastec & apos ; s pump station construction ensures the reliable delivery of clean water and the safe , effective removal of potentially harmful wastewater and sewage .
among other acquisitions that reinforced mastec ' s internal growth and geographic diversification were the following : the purchase of harrison wright company , inc . , a telecommunications contractor with operations and bellsouth master contracts principally in georgia and the carolinas ; and the acquisition of shanco corporation and kennedy cable construction , inc . , catv contractors providing services to six southeastern states as well as to new jersey and new york . mastec ' s subsidiaries installed a 370 - mile fiber loop for telergy , inc . in upstate new york and completed a fiber loop for mci metro in raleigh , north carolina .
to form a new company called mastec comtec , which brought single - project , turnkey , and maintenance solutions to the communications problems of fortune 500 corporations , government agencies , colleges , universities , and medical institutions . mastec comtec installed both local area networks ( lans ) and wide - area networks ( wans ) . the company was hired to fast - track construction of the enormous fiber - and - copper infrastructure of telecommunications equipment for the 1996 olympic village ; to build lans and wans for the nationwide offices of a major stockbrokerage firm ; and to install and maintain a bank holding company
and mastec prospered . in january 1997 the company announced a three - for - two stock split and on february 14 of that year began trading its common stock on the new york stock exchange . president jorge mas , in a company news bulletin released after the new york listing , declared that
at mastec , we believe our greatest asset is our people , and we & apos ; re continually looking to recruit others who reflect the professionalism , expertise , innovation and commitment to the quality that defines our culture . with more than 300 offices throughout the united states and canada , mastec employees have the flexibility to work in a variety of locations . we hire and retain managers , supervisors , foremen , equipment operators and workers who work well as part of a team , but show initiative and drive as individuals as well . our company is growing fast , and that growth offers a wide variety of opportunities for qualified , talented and motivated professionals . as part of the mastec team , you will experience exciting new projects and professional practices and cultures , further developing your skills and benefiting from an environment that & apos ; s creative , groundbreaking and , above all , supportive .
for the electrical transmission business , mastec estimates consistent improvement in results during 2017 . the company foresees 2017 as a transitional year for this segment , with anticipated improvement in end market . it also expects to see large industry awards , moving ahead , driving growth in business in 2018 and beyond .
halsted is a small tuck - in acquisition , which will give us greater economies of scale , ” mastec ceo jose r . mas said in a news release . “in addition , we are very pleased to have the opportunity to expand our relationship with a great customer , directv .