MasTec Announces Q3 Non-GAAP EPS of $1.34, Beating Estimates by $0.06

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MASTEC ($NYSE:MTZ): MasTec, Inc. is a leading infrastructure construction company operating across the United States. The company specializes in the building and maintenance of energy, communications, and pipeline infrastructure. MasTec Announces Q3 Non-GAAP EPS of $1.34, Beating Estimates by $0.06 This is a positive development for the company, which has seen its stock price rise by nearly 30% so far this year. The company attributed the better-than-expected results to strong performance across its businesses.

MasTec’s CEO Jose Mas noted that “all of our end markets are performing well and we are executing on our growth strategy.” Looking ahead, MasTec expects to continue to benefit from robust demand for its services. The company is well-positioned to capitalize on favorable industry trends and drive shareholder value over the long term.

Earnings

MasTec, Inc. announced its earnings results for the third quarter of its fiscal year 2022 on Tuesday, August 10. Looking at the company’s earnings results for the quarter, total revenue increased by 6.5% compared to the same quarter last year.

However, net income decreased by 48.6% compared to the same quarter last year. MasTec attributed the decline in net income to increased costs associated with the pandemic, including higher health and safety expenses and lower productivity. This growth can be attributed to the company’s expanding operations and acquisitions in recent years.

Share Price

The company’s stock price has been volatile in the wake of the earnings announcement. On Thursday, MASTEC stock opened at $75.70 and closed at $74.00, down 2.9% from its prior closing price of $76.20. In general, the news coverage of MasTec‘s earnings announcement has been negative. However, some analysts are bullish on the company’s long-term prospects.

VI Analysis

Mastec Inc. is a holding company that, through its subsidiaries, provides infrastructure solutions for the energy and communications industries in the United States and internationally. The company operates in two segments, Telecom and Electric Transmission. The Telecom segment offers engineering, installation, upgrade, maintenance, and repair services for wireless carriers, fiber-to-the-home providers, cable television operators, Internet service providers, and other telecommunications companies. This segment also provides civil construction and site development services for the placement of cell towers and related equipment. The Electric Transmission segment offers engineering, procurement, construction, upgrade, maintenance, and repair services for electric utilities and other electric transmission providers. This segment also provides installation services for renewable energy generation facilities, such as solar and wind farms. Mastec Inc. is a holding company that provides infrastructure solutions for the energy and communications industries in the United States and internationally.

The company operates in two segments: Telecom and Electric Transmission. Mastec Inc.’s Telecom segment offers engineering, installation, upgrade, maintenance, and repair services for wireless carriers, fiber-to-the-home providers, cable television operators, Internet service providers, and other telecommunications companies. This segment also provides civil construction and site development services for the placement of cell towers and related equipment. The company’s Electric Transmission segment offers engineering, procurement, construction, upgrade, maintenance, and repair services for electric utilities and other electric transmission providers. This segment also provides installation services for renewable energy generation facilities, such as solar and wind farms.

VI Peers

In the engineering and construction services industry, MasTec Inc faces competition from Assystem SA, Quanta Services Inc, and Elecnor SA. These companies are all large, international competitors with significant market share. While MasTec Inc has a strong presence in the United States, these companies have a strong international presence and are able to compete on a global scale.

– Assystem SA ($LTS:0OA7)

Assystem SA is a French engineering and consulting company. It was founded in 1966 and has since grown to become one of the largest engineering firms in the world. The company has a market capitalization of 547.52 million as of 2022 and a return on equity of 8.74%. Assystem SA provides engineering and consulting services to a variety of industries, including aerospace, defense, energy, transportation, and construction. The company has a strong presence in Europe, North America, and Asia.

– Quanta Services Inc ($NYSE:PWR)

Quanta Services, Inc. provides specialty contracting services in the United States, Canada, Australia, South America, and select other international markets. The company operates through Electric Power Infrastructure Services and Pipeline Infrastructure Services segments. The Electric Power Infrastructure Services segment engages in the installation, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure, including substations, underground and overhead conductor systems, and wireless and fiber optic communication systems. This segment also provides asset management services; and turnkey installation and maintenance services for solar power generation systems. The Pipeline Infrastructure Services segment engages in the construction, upgrade, repair, maintenance, and decommissioning of natural gas and oil pipelines, natural gas gathering systems, and other pipeline infrastructure; and provides asset management services. This segment also offers horizontal directional drilling services for the installation of pipelines and conduit systems. The company was founded in 1997 and is headquartered in Houston, Texas.

– Elecnor SA ($LTS:0K97)

Electricnor SA is a Spanish engineering and construction company. It focuses on the development, design, and construction of renewable energy projects, mainly wind farms. As of 2022, it has a market capitalization of 850.99 million dollars and a return on equity of 18.71%.

Summary

Investing in Mastec could be a lucrative endeavor, as the company has consistently posted strong financial results in recent years. In addition, Mastec boasts a strong market position in the engineering and construction industry, which could lead to continued growth and profitability going forward. Thus, investors who believe in the company’s long-term prospects could find Mastec to be a compelling investment opportunity.