MasTec Earnings: Everything You Must Know Now
MasTec, Inc. (NYSE:MTZ) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
MasTec, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 206.67% to $0.46 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 20.42% to $932.36 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: MasTec, Inc. reported adjusted EPS income of $0.46 per share. By that measure, the company beat the mean analyst estimate of $0.45. It beat the average revenue estimate of $889 million.
Quoting Management: Bob Campbell, MasTec’s Executive Vice President and Chief Financial Officer noted, “We currently believe that we should have high levels of growth in oil and gas and electrical transmission for the next few years. As our confidence level regarding sustainable growth in these capital-intensive markets has risen, we have increased our investment in equipment to support our anticipated growth. We currently expect that MasTec’s capital expenditures, and the related depreciation, will increase in order to take full advantage of the opportunities for which we now have improved visibility. MasTec’s capital expenditures for 2013 are currently estimated at $100 million compared to $80 million in 2012. Included in our 2013 guidance is an increase of approximately $30 million of depreciation expense over 2012. MasTec’s cash flows, liquidity and capital structure should comfortably support our anticipated growth.”
Key Stats (on next page)…