MasTec Inc reports results for the quarter ended in June - Earnings Summary

MasTec

02/08/2024 03:42

* MasTec Inc  MTZ.N  reported quarterly adjusted earnings of
96
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of 89
cents.  The mean expectation of thirteen analysts for the
quarter was for earnings of 87 cents per share. Wall Street
expected results to range from 77 cents to 89 cents per share.
    * Revenue rose 3% to $2.96 billion from a year ago; analysts
expected $3.09 billion. 
    * MasTec Inc's reported EPS for the quarter was 43 cents​.
    * The company reported quarterly net income of $33.99
million.
    * MasTec Inc shares had risen by 2.8% this quarter and
gained 45.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.5%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the construction
&
engineering peer group is also "buy"

Wall Street's median 12-month price target for MasTec Inc is
$120.00 
This summary was machine generated from LSEG data August 2 at
02:42 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.87           0.96           Beat
 Mar. 31 2024      -0.48          -0.13          Beat
 Dec. 31 2023      0.44           0.66           Beat
 Sep. 30 2023      1.84           0.95           Missed