CORAL GABLES, Fla. (AP) — CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported first-quarter net income of $9.9 million.
On a per-share basis, the Coral Gables, Florida-based company said it had profit of 13 cents. Earnings, adjusted for one-time gains and costs, were 51 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The utility contractor posted revenue of $2.85 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $2.72 billion.
For the current quarter ending in June, MasTec expects its per-share earnings to range from $1.36 to $1.46.
The company said it expects revenue in the range of $3.4 billion for the fiscal second quarter.
MasTec expects full-year earnings in the range of $5.90 to $6.25 per share, with revenue expected to be $13.65 billion.
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