Infrastructure construction company MasTec (NYSE: MTZ) will be announcing earnings results this Thursday after market close. Here’s what you need to know.
MasTec beat analysts’ revenue expectations last quarter, reporting revenues of $3.97 billion, up 22% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a solid beat of analysts’ adjusted operating income estimates.
Is MasTec a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting MasTec’s revenue to grow 9.3% year on year, improving from the 3.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MasTec has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at MasTec’s peers in the construction and engineering segment, some have already reported their Q4 results, giving us a hint as to what we can expect. AECOM’s revenues decreased 4.6% year on year, beating analysts’ expectations by 2.5%, and Comfort Systems reported revenues up 41.7%, topping estimates by 13%. AECOM traded up 1.1% following the results while Comfort Systems was also up 6.5%.
Read our full analysis of AECOM’s results here and Comfort Systems’s results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 5.7% on average over the last month. MasTec is up 18.2% during the same time and is heading into earnings with an average analyst price target of $256 (compared to the current share price of $295.65).
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