144.60
price down icon1.34%   -1.97
after-market Handel nachbörslich: 144.60
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Warum fällt Mastec Inc-Aktie (MTZ)?

2023-11-01:

MasTec, Inc. Stock (MTZ) dropped by 17.60% from $59.44 to $48.98 in the trading on Wednesday November 1, 2023. The reason why MTZ stock down today include:

  • Third-quarter earnings results: MasTec reported $0.95 per share in the quarter on revenue of $3.26 billion, but that was well below the $1.87 per share on revenue of $3.76 billion that Wall Street had expected.
  • Customer delays: MasTec's big issue is customer delays, especially in the clean energy and infrastructure segments. The company listed several reasons for delays, including interconnect-agreement lead times, supply chain issues, permitting delays, and uncertainty in tax equity funding.
  • Oil and gas business: MasTec said its oil and gas business has seen delays due to hiring challenges, and its communications and power delivery segment is facing deferrals due to higher financing costs.
  • Lower guidance for the full year: MasTec now expects to earn $1.75 per share in 2023, down from previous guidance for $3.75 to $4.19 per share in earnings and well short of the $3.76 analysts had expected.
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