NYSE$MTZ
MasTec Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
MasTec's Q4 2022 results were announced, featuring a revenue increase and the successful completion of the IEA acquisition.
MasTec reported a 66.3% increase in revenue to $3.0 billion for Q4 2022, compared to $1.8 billion in Q4 2021. GAAP net income was $3.4 million, or $0.04 per diluted share, while adjusted EBITDA was $257.9 million. The company also completed the acquisition of IEA and reduced net debt by approximately $350 million during the quarter.
- Reported GAAP net income of $3.4 million, and adjusted EBITDA of $258 million.
- Diluted earnings per share reached $0.04, with adjusted diluted earnings per share at $1.03.
- Successfully completed the IEA acquisition, achieving significant post-acquisition net debt reduction during the quarter.
- Achieved a record 18-month backlog of $13.0 billion as of December 31, 2022, a 31% increase over 2021.
Headline financials
Revenue & EPS history
MasTec · Revenue · Quarterly
$3.01B
Revenue by segment
MasTec · $3.01B total across 5 segments · Q4 2022
- Clean Energy & Infra$1.13B+118.6%37.4%
- Communications$859M+25.9%28.5%
- Power Delivery$740M+159.2%24.6%
- Pipeline Infrastructure$292M-13.0%9.7%
- Eliminations-$6.7M—-0.2%
Forward guidance
The Company currently expects full year 2023 revenue will approximate $13.0 billion, a record level. 2023 full year GAAP net income and diluted earnings per share are expected to range between $194 and $212 million and $2.48 and $2.70, respectively. Full year 2023 adjusted EBITDA is expected to range between $1.10 and $1.15 billion, representing between 8.5% and 8.8% of revenue, and adjusted diluted earnings per share is expected to range between $4.64 and $4.91.
Tailwinds
- Full year 2023 revenue is expected to approximate $13.0 billion, a record level.
- Full year 2023 GAAP net income is expected to range between $194 and $212 million.
- Full year 2023 diluted earnings per share are expected to range between $2.48 and $2.70.
- Full year 2023 adjusted EBITDA is expected to range between $1.10 and $1.15 billion.
- Full year 2023 adjusted diluted earnings per share is expected to range between $4.64 and $4.91.
Headwinds
- First quarter 2023 GAAP net loss is expected to approximate $86 million.
- First quarter 2023 GAAP diluted loss per share is expected to approximate $1.12.
- First quarter 2023 adjusted EBITDA is expected to approximate $100 million or 4.2% of revenue.
- First quarter 2023 adjusted diluted loss per share is expected to approximate $0.57.
- Projected loss in the first quarter is the result of a variety of factors including a normal seasonally slow quarter, project delays, project start-up costs and integration costs related to recent acquisition activity.
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 Q4 2022
+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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