CORAL GABLES, Fla. (AP) — CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported a loss of $41.2 million in its first quarter.
On a per-share basis, the Coral Gables, Florida-based company said it had a loss of 53 cents. Losses, adjusted for one-time gains and costs, were 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 47 cents per share.
The utility contractor posted revenue of $2.69 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $2.62 billion.
For the current quarter ending in June, MasTec expects its per-share earnings to be 88 cents.
The company said it expects revenue in the range of $3.1 billion for the fiscal second quarter.
MasTec expects full-year earnings to be $2.95 per share, with revenue expected to be $12.55 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTZ at https://www.zacks.com/ap/MTZ
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