MasTec Q1 revenue $2.58B +32% YoY; GAAP loss $1.05/sh; backlog record $13.9B; FY adj. EPS guide $4.35-4.85

MASTEC INC

2023-Q1 EPS reported -$1.05 revenue$2,584,659,000

Q1 revenue $2.58B (+32% YoY); GAAP net loss $80.5M ($1.05/sh) vs loss $35M ($0.47/sh) in Q1 2022.
Adjusted EBITDA $102.5M (4.0% margin); adjusted diluted loss $0.54/sh, $0.03 better than guidance.
Record 18-month backlog $13.9B (+31% YoY, +7% sequentially) driven by non-Oil & Gas segments.
FY2023 guidance: rev $13.0-13.2B, adj. EBITDA $1.10-1.15B, adj. EPS $4.35-4.85; Q2 guide: rev ~$3.0B, adj. EPS $0.86; S&P affirmed investment grade.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MASTEC INC reported first quarter 2023 results: revenue $2.58 billion, net income net loss of $80.5 million, EPS $1.05 per diluted share.

Period: first quarter 2023
Revenue: $2.58 billion
Net income: net loss of $80.5 million
EPS: $1.05 per diluted share
Result: reported results

Exact text from the filing

MasTec, Inc. (NYSE: MTZ) today announced 2023 first quarter financial results and updated its full year 2023 guidance range expectation. First quarter 2023 revenue was up 32.2% to $2.58 billion, compared to $1.95 billion for the first quarter of 2022. GAAP net loss was $80.5 million, or $1.05 per diluted share

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Source: SEC EDGAR

accession 0001193125-23-136151

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