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![MASTEC INC [MTZ] reports annual net loss of $47.3 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FMTZ.png&w=1200&q=75)
MASTEC INC [MTZ] has reported a net loss of $47.3 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $12.0 billion
Based in CORAL GABLES, Florida, MASTEC INC operates in the CONSTRUCTION sector.
During the 12 months ended December 31, 2023, MasTec, Inc. reported a total revenue of $11.99 billion, showing a significant increase compared to $9.78 billion in the same period in 2022 and $7.95 billion in 2021.
The costs of revenue, excluding depreciation and amortization, also rose to $10.61 billion in 2023 from $8.59 billion in 2022 and $6.81 billion in 2021.
Net income for the current reporting period was a loss of $47.30 million, which was a decline from a profit of $33.89 million in 2022 and $330.73 million in 2021.
The basic (loss) earnings per share for MasTec, Inc. were $(0.64) in 2023, compared to $0.45 in 2022 and $4.54 in 2021. Similarly, the diluted (loss) earnings per share were also $(0.64) in 2023, down from $0.42 in 2022 and $4.45 in 2021.
Overall, MasTec, Inc. experienced a decrease in net income and earnings per share in 2023 compared to the previous years, despite a notable increase in revenue.
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