MasTec Q1 2020 Earnings Report
Key Takeaways
MasTec announced better than expected first quarter financial results and updated its guidance for the remainder of 2020 for the potential impacts of the COVID-19 Pandemic. First quarter 2020 revenue was $1.4 billion, and cash flow from operations was a first quarter record at $203 million. First quarter GAAP net income was $36.1 million, or $0.48 per diluted share. First quarter 2020 adjusted EBITDA was $118 million.
First Quarter 2020 Results include GAAP Net Income of $36.1 Million, Adjusted EBITDA of $118 Million, Diluted Earnings Per Share of $0.48, and Adjusted Diluted Earnings of $0.60 per Share, with all Key Metrics Exceeding Guidance Expectations
Record First Quarter 2020 Cash Flow from Operations of $203 Million Funded $119 Million in Share Repurchases During the Quarter, with a Sequential Decrease in Net Debt Levels
Strong Balance Sheet as of March 31, 2020, Comfortable Leverage Metrics and Ample Liquidity of Approximately $950 Million
Record Backlog as of March 31, 2020 of $8.3 Billion
MasTec
MasTec
MasTec Revenue by Segment
Forward Guidance
The Company estimates 2020 annual revenue of approximately $7.3 to $7.7 billion, with 2020 annual GAAP net income and diluted earnings per share expected to approximate $289 to $326 million and $3.90 to $4.41, respectively. 2020 annual adjusted EBITDA is expected to be between $775 and $825 million, and 2020 annual adjusted diluted earnings per share is expected to range from $4.50 to $5.00.
Revenue & Expenses
Visualization of income flow from segment revenue to net income