MasTec reports Q2 EPS $1.49, consensus $1.40

Reports Q2 revenue $3.55B, consensus $3.4B. “We are pleased that second quarter financial performance exceeded guidance with respect to both revenue and earnings growth as MasTec (MTZ) continues to take advantage of an exceptionally strong demand climate and execute cleanly against this opportunity,” said Jose Mas, MasTec’s Chief Executive Officer. “Our reported 20% revenue growth underscores the climate we are in with strong demand across all of our market segments. While we recorded some costs associated with investments to support this growth, we are also pleased to meet or exceed guidance for Net Income, Adjusted EBITDA and EPS, while also recording ongoing sequential growth in our 18-month backlog from project volume growth despite significant increases in burn rates.”