MasTec: Fourth Quarter Earnings Overview

MasTec Announces Strong Fourth Quarter Results

MasTec Inc., headquartered in Coral Gables, Florida, revealed on Thursday that it achieved a net profit of $142.7 million for the fourth quarter.

The company reported earnings of $1.81 per share, while adjusted earnings—excluding special items—reached $2.07 per share.

These results surpassed analysts’ expectations, as the consensus from eight analysts polled by Zacks Investment Research had anticipated earnings of $1.94 per share.

MasTec’s revenue for the quarter was $3.94 billion, also exceeding projections. Six analysts surveyed by Zacks had forecasted revenue of $3.72 billion.

For the full year, MasTec posted a profit of $399 million, or $5.07 per share, with total revenue amounting to $14.3 billion.

Outlook for 2024

• For the first quarter ending in March, MasTec projects earnings of $1 per share.
• The company anticipates revenue between $3.48 billion for the fiscal first quarter.
• For the entire year, MasTec expects to earn $8.40 per share and generate $17 billion in revenue.

This article was produced by Automated Insights using information from Zacks Investment Research.