MasTec Announces Record First Quarter 2019 Revenue and Backlog and Increased Annual Guidance
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MasTec (MTZ) Tops Q1 EPS by 15c, Revenues Beat; Raises FY19 Guidance, Offers 2Q Outlook
May 2, 2019 4:45 PM EDTMasTec (NYSE: MTZ) reported Q1 EPS of $0.58, $0.15 better than the analyst estimate of $0.43. Revenue for the quarter came in at $1.52 billion versus the consensus estimate of $1.43 billion.
First quarter 2019 revenue was a record $1.5 billion, an 8.7% increase compared with $1.4 billion for the same period last year. GAAP net income was $43.1 million, or $0.57 per diluted share, compared to $26.5 million, or $0.32 per diluted share, in the first quarter of 2018. GAAP results exceeded the Company's previously announced diluted earnings per share expectation by $0.18.First quarter 2019 adjusted net income, a non-GAAP measure, was $43.6 million.... More