MasTec Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

MasTec (NYSE:MTZ) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$3.25b (flat on 3Q 2023).
• Net income: US$95.2m (up by US$80.9m from 3Q 2023).
• Profit margin: 2.9% (up from 0.4% in 3Q 2023).
• EPS: US$1.22 (up from US$0.18 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

MasTec EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) exceeded analyst estimates by 51%.

Looking ahead, revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Construction industry in the US.

Performance of the American Construction industry.

The company's shares are up 6.6% from a week ago.

Risk Analysis

We should say that we've discovered 3 warning signs for MasTec (1 doesn't sit too well with us!) that you should be aware of before investing here.

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