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Jun 30, 2021
MasTec Q2 2021 Earnings Report
MasTec reported strong Q2 2021 results with record backlog and updated annual guidance.
Key Takeaways
MasTec announced strong second quarter results, featuring a 25% increase in revenue to $2.0 billion compared to the previous year, and a record 18-month backlog of $9.2 billion. The company's GAAP net income increased by 33% to $75.8 million, or $1.02 per diluted share. Adjusted EBITDA was $230 million, representing 11.7% of revenue.
GAAP Net Income of $75.8 Million and Adjusted EBITDA of $230 Million.
Diluted Earnings Per Share of $1.02, and Adjusted Diluted Earnings Per Share of $1.30, $0.05 Above Expectations
Record Second Quarter Revenue of Approximately $2.0 Billion, a 25% Increase Over the Same Period Last Year
Record 18-Month Backlog as of June 30, 2021 of $9.2 Billion, up $1.3 Billion Sequentially from the First Quarter
Revenue by Segment
Forward Guidance
For the third quarter of 2021, the Company expects revenue to be approximately $2.3 billion. Third quarter 2021 GAAP net income is expected to approximate $101 million, with GAAP diluted earnings per share expected to approximate $1.37. Third quarter 2021 adjusted EBITDA is expected to be $267 million, with adjusted diluted earnings per share expected to approximate $1.71.
Positive Outlook
- Revenue to be approximately $2.3 billion
- GAAP net income is expected to approximate $101 million
- GAAP diluted earnings per share expected to approximate $1.37
- Adjusted EBITDA is expected to be $267 million
- Adjusted diluted earnings per share expected to approximate $1.71
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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