https://assets.capyfin.com/instruments/678fdc13234e27009c5d5935.png avatar
MasTec
🇺🇸 NYSE:MTZ
View Company
OverviewEarningsDividends
•
Sep 30, 2020

MasTec Q3 2020 Earnings Report

MasTec's Q3 2020 results exceeded expectations, driven by strong cash flow and resilient business performance during the pandemic.

Key Takeaways

MasTec announced strong third quarter 2020 earnings results, exceeding guidance expectations with GAAP net income of $116.9 million, adjusted EBITDA of $265 million, and adjusted diluted earnings of $1.83 per share. The company reported revenue of $1.7 billion and strong cash flow from operations of $216 million, leading to a reduction in net debt levels. The company updated its guidance for the remainder of 2020.

Reported GAAP net income of $116.9 million and diluted earnings per share of $1.59.

Achieved adjusted EBITDA of $265 million and adjusted diluted earnings of $1.83 per share, surpassing guidance.

Generated strong cash flow from operations of $216 million in Q3 and a record $712 million year-to-date.

Maintained a strong balance sheet with reduced debt and record liquidity levels.

Total Revenue
$1.7B
Previous year: $2.02B
-15.8%
EPS
$1.83
Previous year: $1.73
+5.8%
Backlog
$7.7B
Previous year: $7.52B
+2.4%
Adjusted EBITDA margin
15.6%
Previous year: 12.5%
+24.8%
Gross Profit
$318M
Previous year: $326M
-2.5%
Cash and Equivalents
$238M
Previous year: $43.1M
+452.7%
Total Assets
$5.2B
Previous year: $4.86B
+7.1%

MasTec

MasTec

MasTec Revenue by Segment

Forward Guidance

For the fourth quarter of 2020, the Company expects revenue between $1.7 to $1.9 billion. Fourth quarter 2020 GAAP net income is expected to range between $108 to $115 million with GAAP diluted earnings per share expected to range between $1.47 to $1.57. Fourth quarter 2020 adjusted EBITDA, a non-GAAP measure, is expected to range between $252 to $263 million, with adjusted diluted earnings per share, a non-GAAP measure, expected to range between $1.64 to $1.73.

Positive Outlook

  • Revenue is expected to be between $1.7 to $1.9 billion.
  • GAAP net income is expected to range between $108 to $115 million.
  • GAAP diluted earnings per share expected to range between $1.47 to $1.57.
  • Adjusted EBITDA is expected to range between $252 to $263 million.
  • Adjusted diluted earnings per share is expected to range between $1.64 to $1.73.

Challenges Ahead

  • Fourth quarter project activity may vary based on the timing of additional regulatory and/or judicial approvals.
  • Fourth quarter project activity may vary based on winter weather conditions.
  • COVID-19 pandemic continues to have a negative impact on the Company’s operations
  • Company expects some continued negative impact from COVID-19
  • Revenue expectation incorporates a range of fourth quarter Oil & Gas segment revenue.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View MasTec