MasTec Expects Q1 Revenue Of Approximately $2.6B, Est $2.744B; Adjusted EPS Loss Of Approximately $(0.48), Est $(0.20)
Portfolio Pulse from Benzinga Newsdesk
MasTec projects a Q1 revenue of around $2.6B, missing estimates of $2.744B, and an adjusted EPS loss of approximately $(0.48), worse than the estimated $(0.20). The shortfall is attributed to seasonal slowness, project delays, and start-up costs.
February 29, 2024 | 10:15 pm
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MasTec expects lower Q1 revenue and a larger EPS loss than anticipated, citing seasonal slowness and project issues.
The projected shortfall in revenue and the deeper than expected EPS loss for MasTec are significant indicators of potential short-term negative impact on the stock price. The reasons provided, such as seasonal slowness and project-related delays, suggest these are temporary issues, but the immediate reaction from investors could still be negative due to the missed expectations.
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