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Correction: Earns-MasTec story

CORAL GABLES, Fla. (AP) -- In a story Feb. 23 about MasTec's fourth-quarter results, generated by Automated Insights using data from Zacks Investment Research, The Associated Press misspelled the company's name in the headline and in second references as MasTech. It is MasTec.

A corrected version of the story is below:

MasTec tops Street 4Q forecasts

MasTec posts 4Q profit, results top Street expectations

CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported fourth-quarter net income of $53.6 million, after reporting a loss in the same period a year earlier.

The Coral Gables, Florida-based company said it had net income of 66 cents per share. Earnings, adjusted for stock option expense and restructuring costs, came to 70 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The utility contractor posted revenue of $1.34 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.32 billion.

For the year, the company reported net income of $131.3 million, or $1.61 per share, swinging to a profit in the period. Revenue was reported as $5.13 billion.

For the current quarter ending in April, MasTec expects its per-share earnings to be 51 cents.

The company expects full-year earnings to be $2.35 per share.

MasTec shares have declined 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.05, more than doubling in the last 12 months.


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


Keywords: MasTech, Earnings Report