Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 2780

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 2780
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 market uncertainty, including from economic downturns or other economic factors, including levels of inflation and rates of interest; supply chain disruptions; governmental and/or regulatory changes, including governmental permitting, or from climate-related matters, or other factors affecting the industries in which the Company operates; changes in customers’ capital spending plans; the Company’s ability to manage projects effectively and in accordance with management’s estimates and resolution of unapproved change orders; risks related to the Company’s acquisitions, including acquisition integration and financing; availability of qualified employees; risks related to rapid technological changes or customer consolidation; competition; the nature of the Company’s contracts, which do not obligate its customers to undertake any infrastructure projects and may be canceled on short notice; customer disputes related to the performance of services; exposure to litigation; seasonality, adverse weather conditions and fluctuations in operational factors; potential exposure to environmental liabilities; exposure from system or information technology interruptions; recoverability of goodwill; collectibility of receivables; the adequacy of the Company’s reserves; public health matters; exposure related to strategic investments or foreign operations; and exposure to multiemployer pension plan liabilities.  The Company grants credit, generally without collateral, to its customers.  Consequently, the Company is subject to potential credit risk related to changes in business and economic factors, including from current economic uncertainty.  However, MasTec generally has certain lien rights on that work and maintains a diverse customer base.  The Company believes its billing and collection policies are adequate to minimize potential credit risk.  MasTec’s customers include: wireless and wireline/fiber service providers; broadband operators; install-to-the-home service providers; public and private energy providers, including renewable and other energy providers; pipeline operators; civil, transportation and industrial infrastructure providers; and government entities.  The industries served by MasTec’s customers include the communications, energy and utilities industries, including the power industry, among others.The Company had approximately 1,640 customers for the year ended December 31, 2024.  As of December 31, 2024, no customer represented greater than 10% of the Company’s consolidated net accounts receivable position, which is calculated as accounts receivable, net, less deferred revenue.  As of December 31, 2023, one customer accounted for approximately 10% of the Company’s consolidated net accounts receivable position.  For the years ended December 31, 2024, 2023 and 2022, the Company derived 35%, 38% and