MasTec (MTZ) Tops Q1 EPS by 3c, Revenues Beat; Offers 2Q EPS/Revenue Guidance Below Consensus, Revises FY20 EPS/Revenue Views
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MasTec Announces Better than Expected First Quarter 2020 Results and Updated Annual Guidance Incorporating Potential COVID-19 Pandemic Impacts
April 30, 2020 5:06 PM EDT
CORAL GABLES, Fla., April 30, 2020 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced better than expected first quarter financial results and updated its guidance for the remainder of 2020 for the potential impacts of the COVID-19 Pandemic.
First quarter 2020 revenue was $1.4 billion, and cash flow from operations was a first quarter record at $203 million, a $250 million increase over cash flow from operations during the same period last year.
First quarter GAAP net income was $36.1 million, or $0.48 per diluted share. GAAP results exceeded the Company's previously... More
