NYSE$MTZ
MasTec Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
MasTec reported strong results for the third quarter of 2021, exceeding guidance expectations.
MasTec announced record third quarter 2021 revenue of approximately $2.4 billion, a 42% increase over the third quarter last year. GAAP net income was $112.5 million, or $1.50 per diluted share. Adjusted EBITDA was $278 million, or 11.6% of revenue.
- Record Third Quarter 2021 Revenue of Approximately $2.4 Billion, a 42% Increase Over Third Quarter Last Year
- Third Quarter 2021 Results Include GAAP Net Income of $112.5 Million, Adjusted EBITDA of $278 Million, Diluted Earnings Per Share of $1.50, and Adjusted Diluted Earnings of $1.81 Per Share, Exceeding Guidance Expectations
- Continued Strong Balance Sheet as of September 30, 2021, Ample Liquidity and Comfortable Leverage Metrics
- Announces Fourth Quarter New Unsecured Revolving Credit Facility with Increased Facility Size and Improved Pricing
Headline financials
Revenue & EPS history
MasTec · Revenue · Quarterly
$2.4B
Revenue by segment
MasTec · $2.4B total across 5 segments · Q3 2021
- Pipeline Infrastructure$858M+85.6%35.7%
- Communications$670M+3.9%27.9%
- Clean Energy & Infra$518M+10.6%21.6%
- Power Delivery$365M+184.3%15.2%
- Eliminations-$8.1M—-0.3%
Forward guidance
The Company is updating its guidance and now estimates 2021 annual revenue to approximate $8.0 billion, with 2021 annual GAAP net income and diluted earnings per share expected to approximate $332 million and $4.46, respectively. For the fourth quarter of 2021, the Company expects revenue of approximately $1.9 billion. Fourth quarter 2021 GAAP net income is expected to approximate $75 million, with GAAP diluted earnings per share expected to approximate $1.01.
Tailwinds
- 2021 annual revenue to approximate $8.0 billion
- 2021 annual GAAP net income expected to approximate $332 million
- 2021 annual diluted earnings per share expected to approximate $4.46
- 2021 annual adjusted EBITDA is expected to approximate $930 million
- 2021 annual adjusted diluted earnings per share is expected to approximate $5.55
Headwinds
- For the fourth quarter of 2021, the Company expects revenue of approximately $1.9 billion
- Fourth quarter 2021 GAAP net income is expected to approximate $75 million
- GAAP diluted earnings per share expected to approximate $1.01
- Fourth quarter 2021 adjusted EBITDA is expected to approximate $218 million
- Adjusted diluted earnings per share expected to approximate $1.33
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+2.0%
Avg return
Earnings day
+3.4%
Avg return
5 days after
+5.0%
Avg return
30 days after
66%
43 / 65 earnings
Positive
+17.8%
Q2 2012
Best reaction
-18.4%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +6.3% | +18.1% | +2.2% | |
| Q4 2025 | +2.8% | +4.8% | +9.0% | |
| Q3 2025 | -5.8% | -7.0% | -0.0% | |
| Q1 2025 | +4.9% | +8.4% | +16.4% | |
| Q4 2024 | +3.0% | +0.9% | -9.1% | |
| Q3 2024 | +8.3% | +13.8% | +20.0% | |
| Q2 2024 | -7.1% | -4.3% | +2.8% | |
| Q1 2024 | +15.1% | +19.5% | +27.0% | |
| Q4 2023 | +13.5% | +15.5% | +24.7% | |
| Q3 2023 | -16.3% | -11.8% | +3.7% | |
| Q2 2023 | -18.4% | -24.1% | -18.5% | |
| Q1 2023 | +1.9% | +2.6% | +20.4% | |
| Q4 2022 | +4.2% | +4.8% | -1.9% | |
| Q3 2022 | +13.7% | +18.0% | +14.6% | |
| Q2 2022 | +2.0% | -0.1% | -1.0% | |
| Q1 2022 | +0.2% | -1.5% | +5.5% | |
| Q4 2021 | -9.1% | -12.0% | +0.8% | |
| Q3 2021 | +4.5% | +7.4% | -0.9% | |
| Q2 2021 | -4.1% | -5.0% | -6.5% | |
| Q1 2021 | +3.3% | +9.9% | +10.8% | |
| Q4 2020 | -2.7% | +0.2% | +1.1% | |
| Q3 2020 | +5.4% | +6.6% | +22.8% | |
| Q2 2020 | -0.3% | +4.8% | +17.0% | |
| Q1 2020 | -2.1% | -6.5% | +3.2% | |
| Q4 2019 | -7.9% | -7.5% | -44.7% | |
| Q3 2019 | +6.1% | +12.9% | +2.9% | |
| Q2 2019 | +13.1% | +17.1% | +22.5% | |
| Q1 2019 | -1.9% | +0.7% | -8.6% | |
| Q4 2018 | +9.4% | +11.1% | +12.2% | |
| Q3 2018 | +9.7% | +10.8% | +3.6% | |
| Q2 2018 | -1.5% | -1.9% | -7.6% | |
| Q1 2018 | +4.0% | +1.2% | +6.4% | |
| Q4 2017 | -3.4% | -6.6% | -10.8% | |
| Q3 2017 | +0.1% | +2.0% | +4.8% | |
| Q2 2017 | -6.0% | -5.4% | -8.0% | |
| Q1 2017 | +7.2% | +3.9% | +0.0% | |
| Q4 2016 | +6.9% | +4.7% | +1.5% | |
| Q3 2016 | +7.1% | +5.6% | +36.2% | |
| Q2 2016 | +14.0% | +21.1% | +19.5% | |
| Q1 2016 | +0.7% | — | — | |
| Q4 2015 | +14.1% | — | — | |
| Q3 2015 | +4.2% | — | — | |
| Q2 2015 | -6.7% | — | — | |
| Q1 2015 | -12.6% | — | — | |
| Q4 2014 | +6.5% | — | — | |
| Q3 2014 | +7.3% | — | — | |
| Q2 2014 | +7.3% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q4 2013 | +7.1% | — | — | |
| Q3 2013 | -0.8% | — | — | |
| Q2 2013 | +5.5% | — | — | |
| Q1 2013 | +14.8% | — | — | |
| Q4 2012 | +1.9% | — | — | |
| Q3 2012 | +2.7% | — | — | |
| Q2 2012 | +17.8% | — | — | |
| Q1 2011 | +3.7% | — | — | |
| Q1 2012 | +3.7% | — | — | |
| Q4 2011 | +10.6% | — | — | |
| Q4 2009 | +10.6% | — | — | |
| Q1 2010 | +10.6% | — | — | |
| Q3 2011 | -18.0% | — | — | |
| Q3 2010 | -18.0% | — | — | |
| Q4 2010 | -8.8% | — | — | |
| Q2 2010 | -8.8% | — | — | |
| Q2 2011 | -8.8% | — | — |
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