MasTec (MTZ) Misses Q3 EPS by 89c, updates guidance

MasTec (NYSE: MTZ) reported Q3 EPS of $0.95, $0.89 worse than the analyst estimate of $1.84. Revenue for the quarter came in at $3.26 billion versus the consensus estimate of $3.79 billion.

In light of these developments, MasTec is also updating its full year guidance. The Company now expects:

Revenue of approximately $12 billion, versus consensus of $12.717 billion
GAAP Net Loss of approximately $61 million
Adjusted Net Income of approximately $140 million
Adjusted EBITDA of approximately $850 million
GAAP Diluted loss per share of approximately $0.83
Adjusted diluted earnings per share of approximately $1.75, versus the consensus of $3.78
Cash flow provided by operating activities of approximately $500 million for the second half of 2023 and $400 million for the full year

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

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