Infrastructure construction company MasTec (NYSE:MTZ) will be reporting earnings tomorrow after market close. Here’s what to look for.
MasTec beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $3.40 billion, up 3.8% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ EPS estimates.
Is MasTec a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting MasTec’s revenue to grow 1% year on year to $2.71 billion, slowing from the 4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.34 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MasTec has missed Wall Street’s revenue estimates four times over the last two years.
Looking at MasTec’s peers in the construction and engineering segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Comfort Systems delivered year-on-year revenue growth of 19.1%, beating analysts’ expectations by 4.2%, and Orion reported revenues up 17.4%, topping estimates by 8.8%. Comfort Systems traded up 5.6% following the results.
Read our full analysis of Comfort Systems’s results here and Orion’s results here.
Investors in the construction and engineering segment have had fairly steady hands going into earnings, with share prices down 1.6% on average over the last month. MasTec is up 2% during the same time and is heading into earnings with an average analyst price target of $158.81 (compared to the current share price of $121.05).
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