MasTec, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 04:37 pm
Share
MasTec, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 3,257.08 million compared to USD 2,513.48 million a year ago. Net income was USD 14.3 million compared to USD 48.9 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.66 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to USD 0.65 a year ago.
For the nine months, sales was USD 8,715.85 million compared to USD 6,769.68 million a year ago. Net loss was USD 50.7 million compared to net income of USD 30.13 million a year ago. Basic loss per share from continuing operations was USD 0.65 compared to basic earnings per share from continuing operations of USD 0.41 a year ago. Diluted loss per share from continuing operations was USD 0.65 compared to diluted earnings per share from continuing operations of USD 0.38 a year ago.
MasTec, Inc. is an infrastructure construction company. The Company's segments include Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other. Its Communications segment provides engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure. Its Clean Energy and Infrastructure segment primarily serves energy, utility, government and other end-markets through the installation and construction of power generation facilities, primarily from clean energy and renewable sources. Oil and Gas segment provides engineering, construction and maintenance services for pipelines and processing facilities for the energy and utilities industries. Its Power Delivery segment serves the energy and utility industries through the engineering, construction and maintenance of power transmission and distribution infrastructure, including electrical and gas transmission lines, distribution network systems and substations.