MasTec Q1 2024 net loss narrows to $34.5M; raises FY 2024 revenue guidance to $12.55B

MASTEC INC

2024-Q1 EPS reported -$0.53 revenue$2,686,849,000

Q1 2024 revenue $2.69B (record first quarter, +4% YoY); GAAP net loss $34.5M vs $80.5M loss in Q1 2023.
Adjusted EBITDA $157.3M, up $54.8M YoY; adjusted diluted EPS loss $0.13, beating consensus by $0.35.
18-month backlog $12.8B, up $430M sequentially; net debt reduced to $2.47B, leverage at 2.7x.
FY 2024 guidance raised: revenue ~$12.55B, GAAP net income $121M, adjusted EBITDA $975M, adjusted EPS $2.95.
Q2 2024 guidance: revenue ~$3.1B, adjusted EBITDA ~$260M, adjusted EPS $0.88.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MASTEC INC reported first quarter 2024 results: revenue $2.69 billion, net income $34.5 million net loss, EPS $0.53 per diluted share loss. Guidance raised.

Period: first quarter 2024
Revenue: $2.69 billion
Net income: $34.5 million net loss
EPS: $0.53 per diluted share loss
Guidance: raised
Result: reported results

Exact text from the filing

First quarter 2024 revenue was up 4% to $2.69 billion, a first quarter record, compared to $2.58 billion for the first quarter of 2023. GAAP net loss was $34.5 million, or $0.53 per diluted share, compared to a net loss of $80.5 million, or $1.05 per diluted share, in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001193125-24-129870

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