CORAL GABLES, Fla. (AP) — CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported second-quarter net income of $85.8 million.
On a per-share basis, the Coral Gables, Florida-based company said it had profit of $1.09. Earnings, adjusted for one-time gains and costs, came to $1.49 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The utility contractor posted revenue of $3.54 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $3.39 billion.
For the current quarter ending in September, MasTec expects its per-share earnings to be $2.28.
The company said it expects revenue in the range of $3.9 billion for the fiscal third quarter.
MasTec expects full-year earnings in the range of $6.23 to $6.44 per share, with revenue ranging from $13.9 billion to $14 billion.
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