On 20 Nov 2019, MasTec, Inc. (NYSE: MTZ) spotted trading -9.65% off 52-week high price. On the other end, the stock has been noted 78.82% away from the low price over the last 52-weeks. The stock changed -6.20% to recent value of $66.6. The stock transacted 2981122 shares during most recent day however it has an average volume of 872.85K shares. The company has 75.14M of outstanding shares and 58.52M shares were floated in the market.
MasTec, Inc. (MTZ) recently reported better than predictable third quarter financial results and increased 2019 yearly earnings guidance.
- Third quarter 2019 revenue was $2.02B, contrast with $1.98B for the same period last year. GAAP net income increased 8% to $130.1M, or $1.69 per diluted share, contrast to $120.5M, or $1.52 per diluted share, in the third quarter of 2018. GAAP results exceeded the Company’s before reported diluted earnings per share expectation by $0.12.
- Third quarter 2019 adjusted net income, a non-GAAP measure, increased 26% to $132.8M, contrast to $105.2M for the same period last year. Adjusted diluted earnings per share, a non-GAAP measure, increased 30% to $1.73, contrast to $1.33 in the third quarter of 2018, exceeding the Company’s before reported third quarter 2019 expectation by $0.11.
- Third quarter adjusted EBITDA, also a non-GAAP measure, was $252.1M, contrast with $226.3M in the third quarter of 2018, an 11% increase. Third quarter adjusted EBITDA margin was 12.5%. Third quarter adjusted EBITDA also exceeded the Company’s before reported 2019 third quarter guidance expectation by about $6M.
- The Company also reported 18-month backlog as of September 30, 2019 of $7.5B, an approximate $300M decline when contrast to the third quarter of 2018. Backlog as of September 30, 2019 does not include about $700M in awards signed during the third quarter that are estimated to be realized beyond the 18-month period utilized in backlog.
- Adjusted net income, adjusted diluted earnings per share and adjusted EBITDA, which are all non-GAAP measures, exclude certain items which are detailed and reconciled to the most comparable GAAP-stated measures in the attached Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures.
Based on the information accessible recently, the Company is providing initial fourth quarter guidance, and updating full year 2019 guidance expectations. The Company presently estimates full year 2019 revenue of about $7.2B. Full year 2019 GAAP net income and diluted earnings per share are predictable to approximate $385M and $5.05, respectively. Regarding full year 2019 expectations for non-GAAP measures, adjusted EBITDA is predictable to approximate $842M or 11.7% of revenue and adjusted diluted earnings per share is predictable to be $5.16, a 37% increase over 2018.
For the fourth quarter of 2019 the Company expects revenue of about $1.7B. Fourth quarter 2019 GAAP net income is predictable to approximate $92M with GAAP diluted earnings per share predictable to approximate $1.21. Fourth quarter 2019 adjusted EBITDA, a non-GAAP measure, is predictable to approximate $209M with adjusted diluted earnings per share, a non-GAAP measure, predictable to approximate $1.25.
Its earnings per share (EPS) expected to touch remained 12.10% for this year while earning per share for the next 5-years is expected to reach at 12.36%. MTZ has a gross margin of 14.90% and an operating margin of 6.90% while its profit margin remained 4.40% for the last 12 months. According to the most recent quarter its current ratio was 1.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of -3.43% from the mean of 20 days, -0.01% from mean of 50 days SMA and performed 21.59% from mean of 200 days price. Company’s performance for the week was -6.22%, -2.57% for month and YTD performance remained 64.20%.