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Mar 31, 2021
MasTec Q1 2021 Earnings Report
MasTec's first quarter of 2021 resulted in record revenue and increased annual guidance.
Key Takeaways
MasTec announced record first quarter 2021 financial results, with revenue of $1.8 billion, GAAP net income of $66.1 million, and adjusted EBITDA of $204 million. The company increased its annual guidance for 2021 based on strong first quarter results and the expected partial year benefit of the INTREN acquisition.
First quarter 2021 revenue was $1.8 billion, a 25% increase compared to the prior year.
GAAP net income for the first quarter was $66.1 million, or $0.89 per diluted share.
Adjusted EBITDA for the first quarter was $204 million, or 11.5% of revenue.
The company is increasing annual 2021 guidance expectations based on strong first quarter results and the expected partial year benefit of the recently announced INTREN acquisition.
Revenue by Segment
Forward Guidance
For the second quarter of 2021, the Company expects revenue to be approximately $2.1 billion. Second quarter 2021 GAAP net income is expected to approximate $72 million with GAAP diluted earnings per share expected to approximate $0.98. Second quarter 2021 adjusted EBITDA is expected to be $229 million with adjusted diluted earnings per share expected to approximate $1.25.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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