AP NEWS
Related topics

MasTech: 2Q Earnings Snapshot

August 3, 2018

CORAL GABLES, Fla. (AP) _ MasTec Inc. (MTZ) on Thursday reported second-quarter earnings of $80.5 million.

On a per-share basis, the Coral Gables, Florida-based company said it had profit of $1.01. Earnings, adjusted for stock option expense and non-recurring costs, were $1.04 per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.

The utility contractor posted revenue of $1.62 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $1.79 billion.

For the current quarter ending in October, MasTech expects its per-share earnings to be $1.26.

The company said it expects revenue in the range of $2 billion for the fiscal third quarter.

MasTech expects full-year earnings to be $3.67 per share, with revenue expected to be $6.9 billion.

MasTech shares have declined slightly more than 3 percent since the beginning of the year. The stock has risen roughly 4 percent in the last 12 months.

_____

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

AP RADIO
Update hourly