MasTec (NYSE: MTZ) reported Q4 EPS of $0.47, $0.10 better than the analyst estimate of $0.37. Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.33 billion.

• Fourth quarter 2017 revenue was $1.60 billion, a 19% increase compared with $1.34 billion for the same period last year. GAAP net income was $160.7 million, or $1.95 per diluted share, compared to $55.9 million, or $0.66 per diluted share, in the fourth quarter of 2016. Fourth quarter 2017 GAAP net income included an after-tax benefit of $120.1 million or $1.46 per diluted share related to the impact of re-measurement of the Company\'s U.S. deferred income tax balances because of the Tax Cuts and Jobs Act (\"2017 Tax Act\") enacted in December 2017.
• Fourth quarter 2017 adjusted net income, a non-GAAP measure, was $38.8 million, compared to $60.0 million in the same period of the prior year. Fourth quarter 2017 adjusted diluted earnings per share, a non-GAAP measure, was $0.47, compared to $0.70 in the fourth quarter of 2016, and exceeded the Company\'s previously announced 2017 fourth quarter adjusted diluted earnings per share guidance expectation by $0.11.
• Fourth quarter 2017 adjusted EBITDA, also a non-GAAP measure, was $128.9 million, compared to $154.1 million in the same period in 2016.
• Record 18-month backlog as of December 31, 2017 was $7.1 billion, a 31% increase compared to $5.4 billion for the prior year end and a 41% sequential increase when compared to backlog as of third quarter of 2017.
• 18-month backlog as of December 31, 2017 included record levels of Oil & Gas, Communications and Power Generation & Industrial segment backlog, as well as a significant sequential increase in Electrical Transmission segment backlog.

2018 Outlook

Based on the information available today, the Company is providing both first quarter and full year 2018 guidance. The Company currently expects full year 2018 revenue will approximate $6.75 billion, a record level. 2018 full year GAAP net income and diluted earnings per share are expected to approximate $277 million and $3.34, respectively, compared to 2017 GAAP net income and diluted earnings per share (inclusive of the impact of the 2017 Tax Act) of $348 million and $4.22, respectively. Full year 2018 non-GAAPmeasures including adjusted EBITDA and adjusted diluted earnings per share represent record levels, with adjusted EBITDA expected to approximate $685 million or 10.2% of revenue, and adjusted earnings per share expected to be $3.45, an 18% increase over 2017. Full year 2018 guidance expectation assumes an estimated 2018 income tax rate of approximately 29.5% because of the 2017 Tax Act.

For the first quarter of 2018, The Company expects revenue of approximately $1.23 billion. First quarter 2018 GAAP net income is expected to approximate $14 million, with GAAP diluted earnings per share expected to be $0.17. First quarter 2018 Adjusted EBITDA, a non-GAAP measure, is expected to approximate $90 million or 7.3% of revenue, with adjusted diluted earnings per share, a non-GAAP measure, expected to be $0.20.

GUIDANCE:

MasTec sees FY2018 EPS of $3.45, versus the consensus of $3.32. MasTec sees FY2018 revenue of $6.75 billion, versus the consensus of $6.64 billion.

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