Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 248

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 5
Chunk 248
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 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 

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mix and to a lesser extent the effect of working capital initiatives, including certain accounts receivable financing arrangements.  The increase in DSO as of March 31, 2025 as compared with December 31, 2024 was due to timing of ordinary course billing and collection activities, as well as the effects of lower levels of quarterly revenue.  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 increased by approximately $22 million to $35 million for the three month period ended March 31, 2025 from $13 million for the same period in 2024.  Capital expenditures totaled $47 million, or $33 million, net of asset disposals, for the three month period ended March 31, 2025, as compared with $25 million, or $15 million, net of asset disposals, for the same period in 2024, for an increase in cash used in investing activities of approximately $19 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 three month period ended March 31, 2025 was $98 million, as compared with $375 million for the same period in 2024, for a decrease in cash used in financing activities of approximately $277 million.  The decrease was primarily due to repayments, net of borrowings, of our credit facility and term loans, which decreased by $312 million for the three month period ended March 31, 2025 as compared with the same period in 2024.  The decrease in cash used in financing activities from above was offset, in part, by share repurchases which totaled approximately $37 million for the three month period ended March 31, 2025, of which approximately $10 million was settled in April 2025, for a net effect on cash used in financing activities of $27 million for the three month period ended