MasTec (MTZ) Tops Q4 EPS by 16c
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MasTec Announces Fourth Quarter and Annual Results, Amended and Expanded Credit Facility and Issues 2017 Guidance
February 23, 2017 5:32 PM ESTCORAL GABLES, Fla., Feb. 23, 2017 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced better than expected 2016 fourth quarter and full year financial results, and issued its initial 2017 guidance range.
Fourth quarter 2016 revenue was $1.34 billion, a 31% increase compared with $1.03 billion for the same period last year. GAAP net income was $55.9 million, or $0.66 per diluted share, compared to a net loss of $76.9 million, or $0.96 per diluted share, in the fourth quarter of 2015. The net loss in the 2015 period was primarily caused by a non-cash goodwill and intangible asset impairment related to the... More