MasTec: Q1 Earnings Snapshot
By AP News
Published - May 04, 2023, 06:51 PM ET
Last Updated - Jun 21, 2023, 10:35 PM EDT
CORAL GABLES, Fla. (AP) — CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported a loss of $80.5 million in its first quarter.
The Coral Gables, Florida-based company said it had a loss of $1.05 per share. Losses, adjusted for one-time gains and costs, came to 54 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 57 cents per share.
The utility contractor posted revenue of $2.58 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.39 billion.
