Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 179

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 179
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 a favorable impact on cash flow from operating activities, while an increase in DSO has a negative impact on cash flow from operating activities.  Our DSO was 65 as of June 30, 2025 as compared with DSO of 60 as of December 31, 2024.  Our DSOs can fluctuate from period to period due to timing of billings, billing terms, collections and settlements, timing of project close-outs and retainage collections, changes in project and customer mix and to a lesser extent the effect of working capital initiatives, including certain accounts receivable financing arrangements.  The increase in DSO as of June 30, 2025 as compared with December 31, 2024 was due to timing of ordinary course billing and collection activities.  Other than certain ordinary course matters subject to litigation, we do not anticipate material collection issues related to our outstanding accounts receivable balances, nor do we believe that we have material amounts due from customers experiencing financial difficulties.  Based on current information, we expect to collect substantially all of our outstanding accounts receivable balances within the next twelve months.

Investing Activities.  Net cash used in investing activities was $87 million as compared to $24 million for the six months ended June 30, 2025 and 2024, respectively, for an increase of $62 million.  Capital expenditures totaled $111 million, or $84 million, net of asset disposals, for the six months ended June 30, 2025, as compared with $57 million, or $26 million, net of asset disposals, for the same period in 2024, for an increase in cash used in investing activities of approximately $59 million, due primarily to timing of equipment purchases, as well as an expected increase in capital expenditures in 2025.

Financing Activities.  Net cash used in financing activities for the six months ended June 30, 2025 was $207 million, as compared to $579 million for the same period in 2024, for a decrease in cash used in financing activities of approximately $372 million.  The decrease was primarily due to repayments, net of borrowings, of our credit facility and term loans, which decreased by $809 million for the six months ended June 30, 2025 as compared with the same period in 2024.  The decrease in cash used in financing activities from above was offset, in part, by an increase in net proceeds of Senior Notes in the six months