CORAL GABLES, Fla. (AP) 鈥� CORAL GABLES, Fla. (AP) 鈥� MasTec Inc. (MTZ) on Thursday reported first-quarter profit of $60.8 million.
The Coral Gables, Florida-based company said it had net income of 77 cents per share. Earnings, adjusted for one-time gains and costs, were $1.39 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.
The utility contractor posted revenue of $3.83 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $3.47 billion.
For the current quarter ending in June, MasTec expects its per-share earnings to be $2.20.
The company said it expects revenue in the range of $4.3 billion for the fiscal second quarter.
MasTec expects full-year earnings to be $8.79 per share, with revenue expected to be $17.5 billion.
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