MasTec: Q2 Earnings Snapshot

Associated Press Finance
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CORAL GABLES, Fla. (AP) — CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported second-quarter net income of $15.5 million.

The Coral Gables, Florida-based company said it had profit of 20 cents per share. Earnings, adjusted for one-time gains and costs, came to 89 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The utility contractor posted revenue of $2.87 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $3.01 billion.

For the current quarter ending in September, MasTec expects its per-share earnings to range from $1.85 to $2.13.

The company said it expects revenue in the range of $3.8 billion to $3.9 billion for the fiscal third quarter.

MasTec expects full-year earnings in the range of $3.75 to $4.19 per share, with revenue ranging from $12.7 billion to $13 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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