MasTec (MTZ) Raises Guidance
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MasTec, Inc. (NYSE: MTZ) due to the pending acquisition of Wanzek, the acquisition of the Nsoro wireless business and other recent developments it is again raising its guidance for 2008 and is issuing its initial guidance for 2009.
Increased guidance for the year ended December 31, 2008, projects revenue in the range of $1.375 to $1.395 billion and income from continuing operations for 2008 estimated at $0.92 to $0.95 per diluted share. The consensus is $1.22 billion and $0.91, respectively.
For 2009, MasTec expects revenue to be in the range of $1.95 to $2.0 billion, approximately a 40% to 45% growth rate over expected revenue for 2008. Earnings per share for 2009 is expected to be between $1.05 and $1.15 per diluted share. The consensus is $1.34 billion and $1.08, respectively.
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