MasTec: Q2 Earnings Snapshot

Associated Press Finance
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CORAL GABLES, Fla. (AP) — CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported second-quarter profit of $34 million.

On a per-share basis, the Coral Gables, Florida-based company said it had profit of 43 cents. Earnings, adjusted for one-time gains and costs, were 96 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.

The utility contractor posted revenue of $2.96 billion in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $3.09 billion.

For the current quarter ending in September, MasTec expects its per-share earnings to be $1.24.

The company said it expects revenue in the range of $3.45 billion for the fiscal third quarter.

MasTec expects full-year earnings to be $3.03 per share, with revenue expected to be $12.4 billion.

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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