MasTec Q3 revenue up to $2.5B but EPS drops; record $11.2B backlog; guides FY22 rev $9.7B

MASTEC INC

2022-Q3 EPS reported $0.38 revenue$6,769,677,000

Q3 GAAP diluted EPS $0.65 vs $1.50 YoY; adjusted diluted EPS $1.34 vs $1.89.
Non-Oil & Gas segment revenue up 38% YoY; Power Delivery +88%, Communications +33%.
Record 18-month backlog $11.2B, up 32% YoY and $222M sequentially from Q2.
IEA acquisition closed Oct 7, 2022; adds ~6,000 employees; included in guidance.
FY 2022 guidance: revenue $9.7B, adjusted EBITDA $780M, adjusted diluted EPS $3.02.

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