MasTec (MTZ) Tops Q2 EPS by 38c, Beats on Revenues

MasTec (NYSE: MTZ) reported Q2 EPS of $1.03, $0.38 better than the analyst estimate of $0.65. Revenue for the quarter came in at $1.89 billion versus the consensus estimate of $1.5 billion.

• Record second quarter 2017 revenue was $1.89 billion, a 53% increase compared with $1.23 billion for the same period last year, exceeding the Company\'s previously announced second quarter 2017 expectation by $390 million.
• Record second quarter 2017 GAAP net income increased 241% to $83.3 million, or $0.99 per diluted share, compared to $24.4 million, or $0.30 per diluted share, in the second quarter of 2016.
• Record second quarter 2017 adjusted net income, adjusted diluted earnings per share and adjusted EBITDA, all non-GAAP measures were as follows:
  • Adjusted net income was $86.7 million compared to $29.9 million in the same period of the prior year. Adjusted diluted earnings per share was $1.03, compared to $0.36 in the second quarter of 2016, exceeding the Company's previously announced second quarter 2017 expectation by $0.38.
  • Adjusted EBITDA was $202 million; a 94% increase compared to $104 million in the second quarter of 2016, exceeding the Company\'s previously announced second quarter 2017 expectation by approximately $52 million.

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

You May Also Be Interested In

• Ennis (EBF) Reports In-Line Q1 EPS
• Middleby board approves spin-off of food processing unit Midera
• Seacoast Banking (SBCF) PT Raised to $34 at Piper Sandler