MasTec (MTZ) Tops Q1 EPS by 4c

MasTec (NYSE: MTZ) reported Q1 EPS of $0.02, $0.04 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $974 million versus the consensus estimate of $950.93 million.

Jose R. Mas, MasTec's Chief Executive Officer, commented, "Our first quarter results came in slightly better than expected and we continue to be positioned for a strong 2016 performance. We are seeing a very active bidding environment in several of our end markets, particularly in Oil & Gas, which we expect will provide us with continued growth opportunities in 2017 and beyond."

Mr. Mas continued, "During the second quarter of 2016, we are significantly expanding our construction activities for two major pipeline projects to the Mexican border and also expect to begin construction late in the quarter of another large long haul oil and gas project. Our second quarter 2016 guidance reflects a broader range given the short term challenges of projecting start up activities on large projects during the quarter. That said, these projects are expected to generate significant revenue and earnings growth over the balance of 2016."

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

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