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MasTec: 2Q Earnings Snapshot

August 1, 2019

CORAL GABLES, Fla. (AP) _ MasTec Inc. (MTZ) on Thursday reported second-quarter profit of $119.7 million.

The Coral Gables, Florida-based company said it had net income of $1.58 per share. Earnings, adjusted for one-time gains and costs, came to $1.60 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The utility contractor posted revenue of $1.94 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $1.81 billion.

For the current quarter ending in October, MasTec expects its per-share earnings to be $1.62.

The company expects full-year earnings to be $5.04 per share.

MasTec shares have increased 24% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $50.16, an increase of nearly 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTZ at https://www.zacks.com/ap/MTZ

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