MasTec Earnings: Here’s Why the Stock is Rising 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. Shares are up 0.97%.

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MasTec, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 58.82% to $0.27 in the quarter versus EPS of $0.17 in the year-earlier quarter.

Revenue: Rose 18% to $918.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: MasTec, Inc. reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $0.24. It beat the average revenue estimate of $854.87 million.

Quoting Management: Jose R. Mas, MasTec’s Chief Executive Officer, commented, “MasTec had an excellent first quarter. We exceeded all of our estimates for revenue, EBITDA, net income and earnings per share. Additionally, we updated full year revenue guidance to the high end of our previous estimate, as well as increased our full year EBITDA guidance. Our outlook is strong and we expect another record year.”

Key Stats (on next page)…

Revenue decreased 1.48% from $932.36 million in the previous quarter. EPS decreased 41.3% from $0.46 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 $0.48 and has not changed. For the current year, the average estimate has moved down from a profit of $1.89 to a profit of $1.83 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)