MasTec beats Q3 expectations, raises full-year guidance; GAAP EPS $1.21 vs $0.18 YoY

MASTEC INC

2024-Q3 EPS reported $1.12 revenue$8,900,362,000

Q3 revenue $3.3B (flat YoY); net income $105.4M ($1.21 diluted EPS) vs $15.3M ($0.18) in Q3 2023.
Adjusted diluted EPS $1.63 beats expectations by $0.39; adjusted EBITDA $305.9M (+13% YoY).
Record 18-month backlog of $13.9B, up $1.4B from Q3 2023; cash from ops $278M in Q3.
Full-year guidance raised: revenue ~$12.225B, adjusted EBITDA $990M, adjusted EPS $3.75.
Net debt leverage reduced to 2.2x; year-to-date cash flow from ops $650M.

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