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MasTec (MTZ) Q3 Earnings Report Preview: What To Look For

MTZ Cover Image

Infrastructure construction company MasTec (NYSE:MTZ) will be reporting results tomorrow after market close. Here’s what investors should know.

MasTec missed analysts’ revenue expectations by 4.2% last quarter, reporting revenues of $2.96 billion, up 3% year on year. It was a decent quarter for the company, with an impressive beat of analysts’ operating margin estimates.

Is MasTec a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting MasTec’s revenue to grow 5.5% year on year to $3.44 billion, slowing from the 29.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.23 per share.

MasTec Total Revenue

The majority of analysts covering the company have 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 four times over the last two years.

Looking at MasTec’s peers in the construction and engineering segment, only Comfort Systems has reported results so far. It missed analysts’ revenue estimates by 1.6%, delivering year-on-year sales growth of 31.5%. The stock was down 10.3% on the results.

Read our full analysis of Comfort Systems’s earnings results here.

Investors in the construction and engineering segment have had steady hands going into earnings, with share prices flat over the last month. MasTec’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $132.43 (compared to the current share price of $121.90).

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