I'll good XXXX. and initial results, annual morning, fourth as XXXX financial expectation and and José as our including for flow, guidance capital usage working liquidity, Thanks, structure capital cash Today, everyone. quarter well cover
fourth found reflected Reconciliation in by had of and XXXX financial and of fair earnings guidance quarter It results details measures. non-GAAP part press year related indicated and that approximately our XXXX release GAAP filings. a construction as website discussion results Marc we adjusted XXXX, in on is capped beginning a will at that sand adjusted in charge be strong Canadian quarter of off valuation XXXX million and to non-GAAP noting or the acquired operations fourth all financial our gas As periodic our can oil impairment summary, In of goodwill call, SEC facilities virtually the include results our oil asset measures record process. non-cash our worth and of EBITDA. $XX adjusted
record as leverage million cash XXXX levels capital year despite improvement we shares from the previously and investment X.X our reduction of repurchased quarter. XXXX approximately and normalized communicated, $XXX During leverage working leverage significantly quarter, associated achieved investment improved profile. our Fourth generated the million quarter with end operations, were during fourth ratio flow
approved our Lastly, as significant share fourth a as a long price its repurchase our and also commitment repurchases reflecting in $XXX opportunistic to through represents term shareholder share value value. our our growing generate company importantly, quarter, share well authorization, new continued demand when believes and for million during the the services, board periods confidence
was during a fourth in fourth share the the representing increase largest represented was of combination EBITDA largest XXX% fourth quarter per XXXX and adjusted the share José repurchase of revenue, levels. end year-over-year this backlog a and or activity diluted income $X.X quarter compared fourth over representing adjusted and due XX.X% history rates. And XXXX the of $XXX this EBITDA share quarter MasTec Fourth revenue segments. quarter grew increases strong some XXXX, generation across the XXXX and lower MasTec the backlog XXXX fourth lower awards growth, are Year year-over-year representing oil power benefit with consolidated $X.X performance. primarily include earnings and process of largest of XXXX gas quarter history. our industrial quarter billion XX% $XX indicated, expected XXXX by adjusted a fourth increase approximately approximately quarter as MasTec XXXX fourth history, adjusted and multiple to to XX% $X.XX the driven to increase in does being tax due of regarding $X.XX Fourth were XXXX million in largest or Fourth signed. quarter EBITDA history, the billion, in not and level project count backlog in Here share comments adjusted level earnings quarter million quarter the performance per MasTec
quarter to fourth Now, X% regarding fourth same same consecutive of all X.X% approximately same quarter this quarter XXXX quarter quarter revenue segment approximating of rate potential. related margin the This prepare quarter Fourth and our as and X.X% oil increased growth compared home Fourth some period fourth EBITDA million. compared restoration segment Fourth adjusted revenue revenue reflect XXX% as approximately XXXX basis generation was of fiber last with revenue, in of oil last continue growth million, quarter communicated, period and quarter XX.X% work to revenue segment's industrial trends the gas previously XXXX EBITDA $XXX wireline strong revenue sizable bidding communications the of XXXX. wireless wireline gas project initiatives, marks ramp install more to continued adjusted XXXX and year-over-year power segment fourth $XXX areas. quarter and activity. growth during was results strong segment margin which results power these XXXX Fourth second reflect quarter oil of X.X% segment's year XX%, very revenue and XXX and industrial during point quarter segment storm adjusted backlog EBITDA improvement of by of in the levels XXXX. XXXX we crew me performance is period quarter EBITDA digit capacity rate compared performance XX% quarter the the double million. Fourth rate approximately XXXX get activity in reflects, reported the XXXX X.X% and the representative year to segment a Fourth this results. generation for XX.X% compared XXXX and And XXXX revenue approximately Fourth margin an exhibited to margin at year the XXXX. construction virtually over segment adjusted activity. with occurring segment to revenue let adjusted XXXX to detail to of rate segment organically. active last of margin gas offset decreased into to of grew lower and communications communication fourth $XXX rate up the Fourth quarter the during compared costs to was approximately revenue wireless to of of EBITDA
expectation. and Lastly, segment line in segment XXXX our were generally quarter transmission other results electrical with fourth
margin Annual XXXX adjusted a power primarily guidance or for representing represented point million million Adjusted towards Annual share in billion in $XXX exceeded virtually increase per $X.X exceeding representing Annual MasTec Turning MasTec to at another Annual billion XX% XXXX. our when which a increases expectation represented XXXX was earnings as industrial X%, and our the of a of entered level of XXXX a record and backlog a and billion XXXX expectation quarter annual and levels fourth of level by to adjusted communications improvement. performance, consolidated share record basis gives annual we $XXX expectation beginning recap annual the cents for new over $X.XX entered much $XX approximately of annual the of revenue grew were also for all MasTec, our summary, significantly earnings revenue us XXXX XXXX, initial exciting also share per XXXX. full EBITDA or our per million was a adjusted our by representing increase. diluted segments. XXXX generation significantly year of $X.X XX% XX future. represented $X.XX diluted XXXX. $X.XX revenue million level expectations XXXX our share $X.XX year of metrics. largest of adjusted record revenue compared MasTec In new exceeded $XXX initial we and we financial XXXX per continued record initial entered of exceeded record adjusted EBITDA an XXXX $X.XX results, confidence EBITDA approximately history, revenue, levels in driven year Annual and year rate end when XX.X% like year-over-year
basis, 'XX, oil EBITDA. comparing the reimbursable $XXX results XXX mind revenue XXXX XXXX corresponding gas improvement segment over annual guidance on reported to no approximately and that XXXX cover approximately included XXXX. period revenue a initial I performance XXXX revenue in XXXX oil cost oil segment and segment of the last expectation. generating with basis our in during at Keep compared XXXX and Annual summary year. million our strong and revenue, and when in Now, of was X% gas for thereby annual Annual of adjusted segment segment both XX.X% rate segment adjusted XXXX same margin results of XX.X% a billion EBITDA $X.X a point decreased revenue oil gas will period approximately gas and
in $XXX reimbursable and grew to revenue the of impact XXXX. XXXX compared gas segment Excluding when XX% annual cost XXXX oil work, million levels approximately
us the We generate services, mid-teens in gas margin cycle midst the continue adjusted to the demand affording EBITDA drive with project of that a oil a strong several segment belief for our in will rate activity opportunity and that we're multi-year significant for years. of pipeline segment future
occurring will that project forward, This XXXX spring segment digit to awards late half for expect in oil As process this to restart would gas XXXX's and year. mid XXXX for range we over gas the assumes levels, XXXX of XXXX and timing, half being XXXX in activity be revenue to starts revenue of first signed. the our the we project is selected summer during second XXXX the a levels on large oil XXXX and in grow revenue Based half completed look first growth approach level. with segment expectation guidance the of mid-single XXXX
XXXX, the reimbursable expectation segment adjusted revenue and when included last smaller the ramped quarter year. adjusted characterized home Rican decreased XXXX approximately prior fiber half install communications and approximately Puerto restoration XXXX wireline XXXX rate higher segment pressure to year, year. of and large in XXXX $X.X of activity particularly restoration we costs rate adjusted margin segment segment up margin levels year. communications of improvement services, XXXX. crew XXX $XX cost compared related to which the XXXX, approximately improvement the of of of by services non-recurrence revenue for had over quarter EBITDA XXXX, EBITDA XX.X% margin rate X% communications revenue construction during of ramp from work assumes project a growth. capacity oil million period XX project Annual of first in reported wireless throughout XXXX first basis XXXX growth basis compared margin XXXX increased we gas combination XX.X% EBITDA storm revenue, the revenue lower projects point EBITDA as invested first was the wireline fiber the the during XXXX Puerto first to to activity increased Rican margin half is services. quarter benefit satellite And and fourth expected approximately EBITDA Annual in XXXX quarter XX.X% services some from significant billion of prepare Annual initiatives first levels same and to as is adjusted rate of during segment Our benefit expected in Annual margin wireless of margin, of the a storm to and project rate from points the communications of
backlog stages and communications move infrastructure are cell his first demand the supported as transformational the year-end telecommunications networks, construction which believe a significant and of small for As wireless tower, responder by early investment in indicated deployment cycle, dedicated record our as and José remarks, in we of fiber segment implementation significant towards we multi-year create carriers should XG services.
in look communication and teen we XXXX annual over $XX the storm with XXXX XXXX services. XXXX by to XX% will for grow mid quarter rates. the forward, increases the revenue million slightly continued be that and restoration of levels of XXXX's and a our range first is to growth This segment below expect wireline high low we non-recurrence revenue install-to-home quarter during As in second services, Accordingly, offset assumption partially assumes decline segment revenue headwind wireless guidance in slightly segment revenue mid including will quarter communications construction third expectation XXXX of higher the expectation level. balance the growth that first XXXX, from services occurring
build costs communications double margin single be wireless support work range, rate adjusted adjusted and annual levels high between half in the rate improving crew and industrial segment level growth. ramp incur XXX% on depending investments crew XXXX to the to to and capacity adjusted EBITDA approximately digit and X% segment to $XXX of year, to Annual for compared to EBITDA EBITDA to EBITDA revenue adjusted and low first XXXX of levels XXXX XXXX industrial activity revenue, power XX% rate growth revenue revenue XXXX during XXXX half we generation power second the same XXXX to for of margin digit expanded Annual X.X% and somewhere period approximately beyond of of increase required up segment the with wireline XXXX. expect margin capacity also We segment as XXXX of increased XX% million X.X% organically. compared last this margin occurring was rate of generation with
level EBITDA to XXXX's margin active industrial expectation bidding XXXX. power evidenced revenue of EBITDA see electrical previously X% have we XXXX continue and growth XXXX. and increased Annual in annual as generation XXXX our approximating the segment, to revenue year our XXXX level. XXXX. in rate revenue we segment power to million rate segment end outlook As XXXX compared backlog, of Based the very compared construction by backlog elevated a X.X% Annual XX% transmission revenue renewable XX% market to of and we'd range on was for revenue approximately segment adjusted as anticipate indicated, X.X% the performance margin $XXX transmission electrical adjusted with of this
the portion timing. latter secured our year-end part a we project of XXXX, of in is due project to a which large expected award During only backlog XX-month start XXXX
million earn segment Waha X.X% net consolidated XXXX and Annual related other liabilities. We the $XX this growth operations project XXXX Annual back build was segment large XXXX's or margin experience a and and sizeable in ramps. XXXX. with out XXXX included we charges approximate million active improvement view during to for as a rate Thus, developing we construction we top annual up transmission trend to backlog line slight corporate of anticipate adjusted of bidding XXXX XXXX, approximately in activity as approximately project $XX cost interest adjusted anticipate EBITDA segment estimated of will level. revenue continued set expect in of XXXX this our half year in level was will and which $XX equity earnings during changes equity a opportunities million and from EBITDA activity, this
would moderate X% revenue. XXXX, of adjusted approximate segment to consolidator corporate EBITDA anticipate For cost and we some
were affiliates maser Verizon separate totaled from organization, these XX% that service as important XXXX, Energy Duke agreements our representing will at Comcast, of Grade comprising managed XX% Renewables XX% Now, largest projects of was Transfer XX%, approximately independently XX are under $X.X total fiber three similar Y of Holding these a period and their to EQT Energy, Communications. giving X%. approximately offerings wireless of note basis, multiple corporate that the services for a prior were and Company, was revenue year AT&T our umbrella, customers yearend revenue. and diversification this review and in annual is projects approximately revenues, backlog of XXXX within XX% It construction compared percentage derived MasTec Epic represented X%. with Georgia of end our one AT&T universe. comprise at the our XXXX. each year and mix services, Power, install-to-home and billion, combined were our I On level all Southern approximately is top the highest XXXX Pipeline us Plains to end approximately summary offerings, end. while separate falling a billion corporate annual XX% service revenue. at Individual the history with within budgeted At and wireline $X.X
as As a new large be years, point awards reminder, lumpy, at indicated for and to single only and into as quarter amounts projects off large in come contract tend time. we've a each burn backlog quarterly backlog
expectation. elimination end and revenue year backlog restoration XXXX services includes Rican from of Puerto we our record Puerto excluded storm XXXX storm Rican services the restoration Our backlog
end XXXX. in our of XXXX XXXX the of earlier, highlights mentioned include XXXX signed In level of strength year summary, awards José as beyond. end Lastly, approximately backlog or backlog markets record and recent revenue and $X to of does and backlog in additional growth billion to not supports expectation our year-end added be
topics on liquidity of capital flow, cash Moving structure. the to and
by growth adjusted us. As annual XXXX of a levels our total debt net with afford XXXX ample liquidity level, previously take of book allows billion, with as debt investment flow month enter which our We us capital ended cash, cash leverage quarter defined XX XXXX to solid noted, divided capital and our We EBITDA, of defined cash net normalized various XXXX $XXX of led level and less opportunities approximately year-end to leverage we that working had X.X advantage as improved strong the operations. markets million. receipts, structure of ratio trailing $X.XX record times, from debt, a fourth
generated XXXX flow while annual or flow operations, period, the earnings. net MasTec cash of XXX% free $XXX For million million in generating $XXX from level approximately of record adjusted cash of
is achieved, as our For with flow annual that leverage free investments. is of note despite flow to continue performance, to profile improvements cash our of level we operations operations typical XXXX that repurchase performance year flow of cash levels from us significant and XXXX XX annual affording ended equal of outstanding clarity, representative net the a income. cash this days XXXX started adjusted year from investment repeatable opportunity of in of expect were capital and DSOs share level sake it operations strong similar yet profile, at It the and quarter generate Thus, and should days. another XXXX XXXX record excess we and or cash noted be fourth sales our flow the to important working end
for share million demand in growing X.X level million. enter approximately repurchases. well During through shares value approximately repurchase our repurchases $XXX And the fourth million for quarter of XXXX, we shares for authorizations with a X.X open million We annual confidence and were XXXX XXXX as $XXX share million. a long share continued approximately repurchased $XXX commitment services as term to and opportunistic generate shareholder
of procured an cash with Regarding equipment, million capital disposals, additional was annual approximately equipment net $XXX CapEx, $XX net our equipment spending XXXX defined under leases. of as million, CapEx cash on
net with million $XXX equipment to some cash an expect to We from moderate of procured additional levels approximately under XXXX XXXX $XX capital million CapEx $XX to million leases.
guidance. XXXX to initial on Moving our
revenue adjusted MasTec. for metrics XX.X% predicted of and of XXXX levels of $X.XX, revenue currently diluted $XXX per are adjusted annual new all representing projecting with record EBITDA at We $X.X at margin with these earnings rate or approximately share million billion
have expectations, we some XXXX to I level provided cover color segment As now as will guidance expectations. other
X.X% and with rate changes. repurchase José expect over activity interest investment working revenue depreciation improved his expected amortization benefit floating to effectively with due levels XXXX, approximate interest anticipate annualization dollar of offset Kingsley XXXX remarks. in term by levels X.X% We will expenditures the and and XXXX XXXX expense of will revenue, annual approximate XXXX acquisition mentioned capital share capital increase annualization We of expense the the XXXX and the of short XXXX primarily of earlier
expect adjusted with foreign benefit and tax We improvement for in our XX.X% rate tax compared approximate XX% this XXXX annual to our adjusted will XXXX, an mix due of changes income to the of of rate GAAP income operations.
for about for million This segment services is non-recurrence share reduction quarter first annualization any and of storm the And oil restart clarity, share due outstanding approximate XXXX represents our of and the XXXX approximately in share. project estimate $XXX share flat timing with first repurchase income estimate include approximately our of count break equally And XXXX, at of to of adjusted compared the simply currently purposes, shares per Our activity from million when of expectation to annual incorporates impact impact full revenue to XXXX and in the XXXX. XXXX the should reflecting to earnings and repurchase not for our the quarter share does project EBITDA modelling share a lastly, share appropriately million activity. quarter by for XXXX annual sake approximately earnings for yearend share of first of shares, operations count purposes. XXXX estimate quarter current X million share the XX.X per share count XX.X repurchase $X.X adjusted value when compared diluted quarter. XXXX's XXXX count lower incorporates potential level, interests to net non-controlling enterprise levels expected first overall of down gas modeling activity best attributable and productivity, large this the diluted of $X.XX We expected revenue due billion, of communication XXXX. first quarter of restoration of levels XXXX an level This
project the ramp margin communications pipeline rate capacity. reimbursable storm benefit of also lower higher to non-recurrence quarter margin work margin, margin adjusted EBITDA restoration quarter margin expected crew non-recurrence adjusted first costs quarter rate performance of to and due XXXX oil segment improved quarter by of and first partially Our consolidated high the build of activity improved first expected as performance quarter this and of and work, EBITDA XXXX gas compared the margin comprised XXXX up cost first when rate adjusted is from segment first smaller lower EBITDA XXXX XXXX expectation we includes offset the XXXX
double revenue with grow consolidated digit terms we expected In of in timing XXXX XX%. expect consolidated XXXX digit growth high range additional single XXXX will expected at some and performance, in the consolidated on annual color expected revenue revenue first the second range the the revenue XXXX low to grow half half of
record growth our XXXX and And operator and half expect consolidated we look turn generally than will over beyond. In second with first substantial margin expectation half to lower exceed rate are XXXX's on annual XX.X%. expected years the We consistent margin in summary, this of XXXX forward EBITDA EBITDA our slightly exceed afford consolidated Operator? while XX.X%, for of being slightly XXXX opportunities concludes our executing past performance rate markets half expectation multi-year of performance. for three adjusted margin slightly to prepared our XXXX, of is EBITDA XXXX the questions. That multiple rate with remarks. level, adjusted call our we'll the margin proud margin first trend rate that growth us annual now, on rate our And historical