MasTec Announces Third Quarter 2024 Financial Results and Increases Guidance for the Year
StockNews.AI • 477 days
High Materiality10/10
Information
Third Quarter 2024 Revenue of $3.3 Billion with Significant Margin Expansion Over Last Year Third Qu...
Original sourceAI Summary
Q3 2024 revenue was $3.3 billion, matching 2023's revenue. Q3 2024 adjusted diluted EPS increased to $1.63, exceeding estimates by $0.39. Company's backlog reached a record $13.9 billion, up $1.4 billion year-over-year. Cash flow from operations was significant at $278 million in Q3 2024. Full year 2024 revenue guidance is raised to approximately $12.225 billion.
Sentiment Rationale
Strong earnings and substantial backlog signal robust future revenue, similar to past performance spikes.
Trading Thesis
Increased backlog and operational cash flow suggest sustained growth over the coming years.
Market-Moving
- Q3 2024 revenue was $3.3 billion, matching 2023's revenue.
- Q3 2024 adjusted diluted EPS increased to $1.63, exceeding estimates by $0.39.
- Company's backlog reached a record $13.9 billion, up $1.4 billion year-over-year.
Key Facts
- Q3 2024 revenue was $3.3 billion, matching 2023's revenue.
- Q3 2024 adjusted diluted EPS increased to $1.63, exceeding estimates by $0.39.
- Company's backlog reached a record $13.9 billion, up $1.4 billion year-over-year.
- Cash flow from operations was significant at $278 million in Q3 2024.
- Full year 2024 revenue guidance is raised to approximately $12.225 billion.
Companies Mentioned
- MTZ (MTZ)
Earnings
The financial results and projections significantly enhance investor confidence in MTZ's growth trajectory.