Loading...
•
Jun 30, 2023
MasTec Q2 2023 Earnings Report
MasTec's Q2 2023 results were announced, featuring record revenue and updated full-year guidance.
Key Takeaways
MasTec reported a 25% increase in revenue to $2.87 billion for Q2 2023, with GAAP net income of $16.8 million, or $0.20 per diluted share. Adjusted EBITDA increased by 43% to $255.4 million, and adjusted diluted earnings per share reached $0.89, surpassing guidance expectations by $0.03. The company updated its full-year 2023 guidance, expecting revenue between $12.7 billion and $13.0 billion.
Record second quarter revenue increased 25% year-over-year to $2.9 billion.
GAAP net income was $16.8 million, with adjusted net income of $70.7 million.
Adjusted EBITDA increased 43% to $255.4 million, and adjusted diluted earnings per share was $0.89.
Full-year 2023 revenue guidance updated to $12.7 billion to $13.0 billion.
MasTec
MasTec
MasTec Revenue by Segment
Revenue by Segment
Communications Revenue
CapyFin.comClean Energy & Infra Revenue
CapyFin.comPower Delivery Revenue
CapyFin.comPipeline Infrastructure Revenue
CapyFin.com Forward Guidance
The Company is providing third quarter and updating full year 2023 guidance. For the third quarter of 2023, the Company expects revenue to range from $3.8 billion to $3.9 billion. Third quarter 2023 GAAP net income is expected to range between $101 million and $122 million, with GAAP diluted earnings per share expected to range between $1.27 and $1.55.
Positive Outlook
- Full year 2023 revenue to range from $12.7 billion to $13.0 billion.
- Full year 2023 GAAP net income expected to range between $111 million and $141 million.
- Full year 2023 diluted earnings per share expected to range between $1.38 and $1.77.
- Full year 2023 adjusted EBITDA is expected to range between $1.05 billion and $1.10 billion.
- Full year 2023 adjusted diluted earnings per share is expected to range between $3.75 and $4.19.
Revenue & Expenses
Visualization of income flow from segment revenue to net income