MasTec (MTZ) Tops Q3 EPS by 12c
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MasTec Announces Record Third Quarter 2019 Financial Results and Increased Annual Earnings Guidance
October 31, 2019 4:50 PM EDTCORAL GABLES, Fla., Oct. 31, 2019 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced better than expected third quarter financial results and increased 2019 annual earnings guidance.
Third quarter 2019 revenue was $2.02 billion, compared with $1.98 billion for the same period last year. GAAP net income increased 8% to $130.1 million, or $1.69 per diluted share, compared to $120.5 million, or $1.52 per diluted share, in the third quarter of 2018. GAAP results exceeded the Company's previously announced diluted earnings per share expectation by $0.12. Third quarter 2019 adjusted net income, a non-GAAP measure, increased 26% to $132.8 million, compared... More