MasTec (MTZ) Tops Q4 EPS by 16c

MasTec (NYSE: MTZ) reported Q4 EPS of $0.70, $0.16 better than the analyst estimate of $0.54. Revenue for the quarter came in at $1.34 billion versus the consensus estimate of $1.31 billion.

• Fourth quarter 2016 revenue was $1.34 billion, a 31% increase compared with $1.03 billion for the same period last year. GAAP net income was $55.9 million, or $0.66 per diluted share, compared to a net loss of $76.9 million, or $0.96 per diluted share, in the fourth quarter of 2015. The net loss in the 2015 period was primarily caused by a non-cash goodwill and intangible asset impairment related to the Company\'s western Canadian Oil and Gas operations.
• Fourth quarter 2016 adjusted net income, a non-GAAP measure, was $60.0 million compared to $16.8 million in the same period of the prior year. Fourth quarter 2016 adjusted diluted earnings per share, a non-GAAP measure, was $0.70, compared to $0.21 in the fourth quarter of 2015, and exceeded the company\'s previously announced 2016 fourth quarter guidance expectation by $0.16 per adjusted diluted share.
• Fourth quarter 2016 adjusted EBITDA, also a non-GAAP measure, was $154 million, an 87% increase compared to $82 million in the same period in 2015.
• 18-month backlog as of December 31, 2016 was $5.4 billion, including record Oil & Gas segment backlog of $2.2 billion

For earnings history and earnings-related data on MasTec (MTZ) click here.

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