MasTec Raises FY2024 Adj EPS Guidance from $3.03 to $3.75 vs $3.04 Est; Lowers FY2024 Sales Guidance from $12.40B to $12.22B vs $12.40B Est
Portfolio Pulse from Benzinga Newsdesk
MasTec has adjusted its financial guidance for FY2024, raising its adjusted EPS forecast from $3.03 to $3.75, surpassing the analyst estimate of $3.04. However, it has lowered its sales guidance from $12.40 billion to $12.22 billion, below the previous estimate of $12.40 billion.
October 31, 2024 | 8:45 pm
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MasTec has increased its FY2024 adjusted EPS guidance to $3.75, exceeding analyst expectations, but has reduced its sales forecast to $12.22 billion, below estimates.
The increase in EPS guidance suggests improved profitability, which is positive for the stock. However, the lowered sales guidance may raise concerns about revenue growth. Overall, the positive EPS outlook is likely to have a more significant impact, leading to a positive short-term effect on the stock price.
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