MasTec (MTZ) Tops Q3 EPS by 13c

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Go back to MasTec (MTZ) Tops Q3 EPS by 13c

MasTec Announces Strong Third Quarter 2021 Earnings Results and Updates Annual Guidance

November 4, 2021 4:30 PM EDT

CORAL GABLES, Fla., Nov. 4, 2021 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced third quarter 2021 financial results and updated its guidance for the remainder of 2021.

Third quarter 2021 revenue was a record $2.4 billion, compared to $1.7 billion for the prior year period, a 42% increase. Third quarter 2021 GAAP net income was $112.5 million, or $1.50 per diluted share, $0.13 above expectation.  

Third quarter 2021 adjusted net income and adjusted diluted earnings per share, both non-GAAP measures, were $135.6 million and $1.81, respectively, with adjusted diluted earnings per share exceeding the Company's previously announced expectation by $0.10. Third quarter 2021 adjusted EBITDA, also a... More