MTZ - MasTec reports Q2 earnings beat; narrows FY22 EPS and adjusted EBITDA guidance
- MasTec press release ( NYSE: MTZ ): Q2 Non-GAAP EPS of $0.73 beats by $0.01 .
- Revenue of $2.3B (+17.3% Y/Y) beats by $60M .
- Record 18-Month Backlog as of June 30, 2022 of $11.0B, a sequential increase of $360M and a $1.8B increase over the same quarter last year.
- The company currently expects full year 2022 revenue to approximate $9.2 billion vs. consensus of $9.20B. 2022 full year GAAP net income and diluted earnings per share are expected to approximate $95 million and $1.24, respectively. Full year 2022 adjusted EBITDA is expected to be approximately $750 million and adjusted diluted earnings per share is expected to be $3.09 vs. consensus of $3.05.
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For the third quarter of 2022, the company expects revenue of approximately $2.55 billion vs. consensus of $2.58B. Third quarter 2022 GAAP net income is expected to approximate $65 million, with GAAP diluted earnings per share expected to be $0.86. Third quarter 2022 adjusted EBITDA is expected to approximate $245 million or 9.6% of revenue, with adjusted diluted earnings per share expected to be $1.29 vs. consensus of $1.51.
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MasTec reports Q2 earnings beat; narrows FY22 EPS and adjusted EBITDA guidance