MasTec reports Q4 revenue $3.3B, FY 2023 revenue $12.0B; provides 2024 guidance of $12.5B revenue and adjusted EPS $2.69

MASTEC INC

Q4 revenue $3.28B (+9% YoY); GAAP net income $1.2M ($0.01 diluted EPS); adjusted EPS $0.66.
FY 2023 revenue $12.0B (+23% YoY); GAAP net loss $47.3M (loss $0.64/sh); adjusted EPS $1.97.
FY 2023 cash from ops $687M (+95% YoY); net debt reduced $455M in Q4; leverage ratio improved to 2.9x.
FY 2024 guidance: revenue $12.5B, GAAP net income $105M ($1.04/sh), adjusted EBITDA $955M, adjusted EPS $2.69.
Q1 2024 guidance: revenue $2.6B, GAAP net loss $61M ($0.88/sh), adjusted loss $0.48/sh on seasonal delays.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MASTEC INC reported Fourth quarter 2023 results: revenue $3.3 billion, net income $1.2 million, EPS $0.01 per diluted share.

Period: Fourth quarter 2023
Revenue: $3.3 billion
Net income: $1.2 million
EPS: $0.01 per diluted share
Result: reported results

Exact text from the filing

Fourth quarter 2023 revenue was up 9.0% to $3.3 billion, compared to $3.0 billion for the fourth quarter of 2022. GAAP net income was $1.2 million, or $0.01 per diluted share, compared to $3.4 million, or $0.04 per diluted share, in the fourth quarter of 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MASTEC INC reported first quarter of 2024 results: revenue approximately $2.6 billion, net income approximately $61 million, EPS approximately $0.88. Guidance initiated.

Period: first quarter of 2024
Revenue: approximately $2.6 billion
Net income: approximately $61 million
EPS: approximately $0.88
Guidance: initiated
Result: guidance update

Exact text from the filing

For the first quarter of 2024, the Company expects revenue of approximately $2.6 billion. First quarter 2024 GAAP net loss is expected to approximate $61 million, with GAAP diluted loss per share expected to approximate $0.88.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MASTEC INC reported full year 2024 results: revenue approximately $12.5 billion, net income approximately $105 million, EPS $1.04. Guidance initiated.

Period: full year 2024
Revenue: approximately $12.5 billion
Net income: approximately $105 million
EPS: $1.04
Guidance: initiated
Result: guidance update

Exact text from the filing

The Company currently expects full year 2024 revenue will approximate $12.5 billion, a record level. 2024 full year GAAP net income and diluted earnings per share are expected to approximate $105 million and $1.04, respectively.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MASTEC INC reported Full year 2023 results: revenue $12.0 billion, net income GAAP net loss was $47.3 million, EPS loss of $0.64 per diluted share.

Period: Full year 2023
Revenue: $12.0 billion
Net income: GAAP net loss was $47.3 million
EPS: loss of $0.64 per diluted share
Result: reported results

Exact text from the filing

For the year ended December 31, 2023, revenue was up 23% to $12.0 billion, compared to $9.8 billion for the prior year. GAAP net loss was $47.3 million, or a loss of $0.64 per diluted share, compared to net income of $33.9 million, or earnings of $0.42 per diluted share in 2022.

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Source: SEC EDGAR

accession 0001193125-24-054015

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