CORAL GABLES, Fla. (AP) — CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported fourth-quarter net income of $142.7 million.
The Coral Gables, Florida-based company said it had net income of $1.81 per share. Earnings, adjusted for one-time gains and costs, were $2.07 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.94 per share.
The utility contractor posted revenue of $3.94 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $3.72 billion.
For the year, the company reported profit of $399 million, or $5.07 per share. Revenue was reported as $14.3 billion.
For the current quarter ending in March, MasTec expects its per-share earnings to be $1.
The company said it expects revenue in the range of $3.48 billion for the fiscal first quarter.
MasTec expects full-year earnings to be $8.40 per share, with revenue expected to be $17 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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