MasTec: Q1 Earnings Snapshot

Associated Press Finance
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CORAL GABLES, Fla. (AP) — CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported a loss of $80.5 million in its first quarter.

The Coral Gables, Florida-based company said it had a loss of $1.05 per share. Losses, adjusted for one-time gains and costs, came to 54 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 57 cents per share.

The utility contractor posted revenue of $2.58 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.39 billion.

For the current quarter ending in June, MasTec expects its per-share earnings to be 86 cents.

The company said it expects revenue in the range of $3 billion for the fiscal second quarter.

MasTec expects full-year earnings in the range of $4.35 to $4.85 per share, with revenue ranging from $13 billion to $13.2 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTZ at https://www.zacks.com/ap/MTZ

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