MasTec Q2 adj EPS $0.96 beats target; record backlog $13.3B; FY rev guidance $12.4B

MASTEC INC

2024-Q2 EPS reported -$0.09 revenue$5,647,935,000

Q2 revenue $2.96B (+3% YoY); GAAP EPS $0.43; adj diluted EPS $0.96 ($0.08 above expectations).
Q2 adjusted EBITDA $267.8M, $7.8M above expectations; net income $43.8M vs $16.8M YoY.
18-month backlog $13.3B, up $501M sequentially; record levels in Clean Energy, Power Delivery, Communications.
Cash from operations $264M; net debt leverage below 2.5x; awarded ~700-mile high-voltage transmission project.
FY2024 guidance: rev ~$12.4B, adj EBITDA $975M, adj EPS $3.03; Q3 rev ~$3.45B, adj EPS $1.24.

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