MasTec Sees 2024 Revenue ~$12.4B vs $12.55B Est., Adj. EPS $3.03 vs $2.95 Est.; Sees Q3 Revenue ~$3.45B vs $3.44B Est., Adj. EPS $1.24 vs $1.22 Est.
Portfolio Pulse from Benzinga Newsdesk
MasTec has provided its financial outlook for 2024, projecting revenues of approximately $12.4 billion, slightly below the estimated $12.55 billion. The company also expects adjusted EPS of $3.03, which is above the estimated $2.95. For Q3, MasTec anticipates revenues of around $3.45 billion, in line with the $3.44 billion estimate, and adjusted EPS of $1.24, slightly above the $1.22 estimate.
August 01, 2024 | 9:39 pm
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MasTec's 2024 revenue projection of $12.4 billion is slightly below estimates, but its adjusted EPS forecast of $3.03 exceeds expectations. For Q3, the revenue and adjusted EPS projections are in line or slightly above estimates.
The slight miss on revenue projections for 2024 may be a minor concern, but the higher-than-expected adjusted EPS for both 2024 and Q3 is a positive indicator. This mixed outlook is likely to have a modestly positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100