MasTec (MTZ) Tops Q1 EPS by 8c; Raises Outlook
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MasTec Announces Record First Quarter 2017 Financial Results and Increased 2017 Annual Guidance
May 4, 2017 4:38 PM EDTCORAL GABLES, Fla., May 4, 2017 /PRNewswire/ --Â MasTec, Inc. (NYSE: MTZ) today announced strong first quarter financial results, record backlog, and increased 2017 guidance.
First quarter 2017 revenue was $1.2 billion, a 19% increase compared with $974 million for the same period last year. Record 18-month backlog as of March 31, 2017 increased approximately 5% compared to December 31, 2016 to $5.7 billion. Record GAAP net income was $40.6 million, or $0.50 per diluted share, compared to a net loss of $2.9 million, or $0.03 loss per diluted share, in the first quarter of 2016. Record first quarter 2017 adjusted net income,... More