MasTec Earnings: Everything You Must Know Now
MasTec, Inc. (NYSE:MTZ) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
MasTec, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 27.03% to $0.47 in the quarter versus EPS of $0.37 in the year-earlier quarter.
Revenue: Decreased 1.47% to $977.62 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: MasTec, Inc. reported adjusted EPS income of $0.47 per share. By that measure, the company beat the mean analyst estimate of $0.43. It beat the average revenue estimate of $960.01 million.
Quoting Management: Jose R. Mas, MasTec’s Chief Executive Officer, commented, “MasTec had an excellent second quarter in terms of revenue, earnings and margins. Also, we have had significant growth in backlog, especially in our Oil and Gas and Electrical Transmission segments, which validates the investments we have made in these high growth segments. We completed a strategic oil and gas acquisition in Canada with the previously announced purchase of Big Country Energy Services, which increases our scale and ability to handle large pipeline and facilities projects in the important Canadian and Bakken markets. We are pleased with our strong market position and we expect that 2013 will be a record year.”
Key Stats (on next page)…
Revenue increased 6.42% from $918.65 million in the previous quarter. EPS increased 74.07% from $0.27 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.60 and has not changed. For the current year, the average estimate has moved down from a profit of $1.83 to a profit of $1.80 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)