MasTec reports Q3 adjusted EPS $2.48, consensus $2.30

Reports Q3 revenue $3.97B, consensus $3.91B. “We are pleased that third quarter financial performance posted strong double-digit year-over-year growth across both revenue and profit metrics while also exceeding guidance in all respects as MasTec (MTZ) continues to execute on notably strong customer demand across all end-markets we serve,” said Jose Mas, MasTec’s Chief Executive Officer. “Our reported 22% revenue growth, including double-digit increases from all operating segments, underscores the breadth and depth of the strong demand that MasTec is seeing across our energy, power and infrastructure markets. Despite limited emergency restoration services as compared to prior year within Power Delivery, we exceeded third quarter guidance for consolidated revenue and profit metrics while growing our 18-month backlog with solid new bookings.” Mr. Mas added, “Our strong third quarter performance is due in large part to the efforts of our many MasTec operating teammates and their clear focus on delivering customer value every day on the job site. Thanks to all of you!”