MasTec (MTZ) Tops Q3 EPS by 8c, Revenues Miss; Offers FY18 EPS Outlook Above Consensus
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MasTec Announces Record Third Quarter 2018 Revenue and Backlog, Net Income, Adjusted Net Income and EBITDA With Increased Annual Guidance
November 1, 2018 4:34 PM EDTCORAL GABLES, Fla., Nov. 1, 2018 /PRNewswire/ --Â MasTec, Inc. (NYSE: MTZ) today announced better than expected third quarter financial results and increased 2018 annual guidance.
Third quarter 2018 revenue was $1.98 billion, compared with $1.96 billion for the same period last year. GAAP net income was $120.5 million, or $1.52 per diluted share, compared to $64.2 million, or $0.77 per diluted share, in the third quarter of 2017, a 97% increase. GAAP results exceeded the Company's previously announced diluted earnings per share expectation by $0.29, inclusive of a $0.23 per diluted share benefit related to the impact of... More