Infrastructure construction company MasTec (NYSE: MTZ) will be announcing earnings results this Thursday after market hours. Here’s what investors should know.
MasTec beat analysts’ revenue expectations last quarter, reporting revenues of $3.94 billion, up 15.8% year on year. It was an exceptional quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ revenue estimates.
Is MasTec a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting MasTec’s revenue to grow 21.9% year on year, improving from the 6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MasTec has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at MasTec’s peers in the construction and engineering segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Comfort Systems delivered year-on-year revenue growth of 56.5%, beating analysts’ expectations by 19.5%, and Orion reported revenues up 14.7%, topping estimates by 9.5%. Comfort Systems traded down 2.9% following the results.
Read our full analysis of Comfort Systems’s results here and Orion’s results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 14.1% on average over the last month. MasTec is up 23.8% during the same time and is heading into earnings with an average analyst price target of $379.78 (compared to the current share price of $378.60).
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