MasTec Profit Tops Estimate; Cuts FY14 Guidance

(RTTNews) - Infrastructure construction company MasTec Inc. (MTZ) Thursday reported third-quarter net earnings of $45.3 million or $0.53 per share compared with $46.1 million or $0.54 per share last year.

Excluding items, adjusted earnings for the quarter were $0.56 per share compared with $0.61 per share a year ago.

Revenues for the quarter were $1.3 billion compared with $1.27 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.55 per share on revenues of $1.31 billion for the quarter. Analysts' estimates typically exclude special items.

For the full year 2014, the company now expects adjusted earnings of $1.55 per share on revenues of $4.6 billion. It earlier expected earnings of $1.55 to $1.58 per share on revenues of $4.4 billion to $4.5 billion.

Analysts expect earnings of $1.56 per share on revenues of $4.5 billion for 2014.

For the full year 2015, the company projects adjusted earnings of $2.00 to $2.15 per share on revenues of $5.2 to $5.4 billion.

Analysts expect earnings of $2.18 per share on revenues of $5.06 billion for 2015.