MasTec (NYSE: MTZ) reported Q2 EPS of $1.04, $0.01 better than the analyst estimate of $1.03. Revenue for the quarter came in at $1.62 billion versus the consensus estimate of $1.79 billion.

• Second quarter 2018 revenue was $1.62 billion, a 14% decrease compared with $1.89 billion for the same period last year, primarily due to expected timing variances in large project activity in the Oil & Gas segment. GAAP net income was $80.4 million, or $1.01 per diluted share, compared to $83.3 million or $0.99 per share in the second quarter of 2017. GAAP results exceeded the Company\'s previously announced diluted earnings per share expectation by $0.01.
• Second quarter 2018 adjusted net income, a non-GAAP measure, was $83.5 million. Adjusted diluted earnings per share, a non-GAAP measure, was $1.04, exceeding the Company\'s previously announced second quarter 2018 expectation by $0.01.
• Second quarter adjusted EBITDA, also a non-GAAP measure, was $191.1 million, compared with $202.3 million in the second quarter of 2017, exceeding the Company\'s previously announced 2018 second quarter guidance expectation by approximately $2 million.
• The Company also announced record 18-month backlog as of June 30, 2018 of $7.7 billion, a $168 million sequential increase when compared to first quarter 2018, and a $2.5 billion increase, or 47%, compared to the second quarter of 2017.

Jose Mas, MasTec's Chief Executive Officer, commented, "We had another strong quarter, again exceeding our earnings expectations. We delivered solid second quarter 2018 Adjusted EBITDA margin improvement over both last year\'s 2017 second quarter and sequentially over the 2018 first quarter, primarily by increased performance in our Oil & Gas and Communications segments."

Mr. Mas continued, "We are pleased to once again increase our 2018 annual guidance expectation. As reflected by our record backlog levels, we have strong visibility for continued growth in 2019 and beyond."

GUIDANCE:

MasTec sees FY2018 EPS of $3.67, versus the consensus of $3.67. MasTec sees FY2018 revenue of $6.9 billion, versus the consensus of $6.93 billion.

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