MTZ Cuts FY26 Guidance
MTZ cuts FY26 adjusted EPS to $2.05-2.60 and adjusted EBITDA to $275-325M, citing lower expected revenue and gross profit in Renewables
Updated guidance was primarily driven by lower expected revenue and gross profit in Renewables. - - Jeremy Kinch departed as COO, effective today.
President and CEO Koti Vadlamudi will manage most COO responsibilities while a search is conducted. - - Awarded approximately $2B of projects in Q2 2026 in the Energy segment.
Purchased approximately $50M of common stock in Q2 at an average price of approximately $111.29 per share; approximately $100M remained available under the share purchase program as of June 22nd. - - **Reminder: 05/05 PRIM Cuts FY26 $4.80-5.00 v $5.99e, cuts adj EBITDA $480-500M (prior: $5.80-6.00, adj EBITDA $560-580M)