MasTec Q4 2019 Earnings Report
Key Takeaways
MasTec reported a decrease in revenue for Q4 2019, but an increase in GAAP net income and adjusted EBITDA. The company's backlog reached a record level, and they issued record 2020 guidance.
Fourth quarter revenue was $1.7 billion, compared to $1.9 billion for the same period last year.
GAAP net income was $100.7 million, or $1.33 per diluted share, compared to $31.8 million, or $0.41 per diluted share, in the fourth quarter of 2018.
Adjusted EBITDA was $210.2 million, compared to $195.8 million in the fourth quarter of 2018.
Backlog as of December 31, 2019 was a record $8.0 billion, a 3.9% increase compared to $7.7 billion as of December 31, 2018.
MasTec
MasTec
MasTec Revenue by Segment
Forward Guidance
The Company currently expects full-year 2020 revenue will approximate $8.0 billion, another record level. 2020 full year GAAP net income and diluted earnings per share are expected to approximate record levels at $397 million and $5.19, respectively.
Positive Outlook
- Full-year 2020 revenue will approximate $8.0 billion, another record level.
- Full year GAAP net income is expected to approximate $397 million
- Full year diluted earnings per share are expected to be $5.19
- Adjusted EBITDA expected to approximate $900 million
- Adjusted diluted earnings per share expected to be $5.63.
Revenue & Expenses
Visualization of income flow from segment revenue to net income