MasTec reports Q4 EPS $1.03, consensus 98c

Reports Q4 revenue $3.01B, consensus $2.91B. Jose Mas, MasTec’s CEO, commented, "As we end 2022, it is important to note the significant end market transformation we have undertaken over the past two years to support the nation’s energy transition to sustainable renewable energy sources. In 2020, MasTec recorded $6.3 billion in revenue, and we currently expect to more than double that level and approximate $13 billion in revenue in 2023. We believe that acquisition activity over the last two years has greatly enhanced our scale, expertise and market positioning to meet expected high customer demand growth for renewable power generation, power grid transmission and distribution and civil infrastructure over the next decade. We believe that this opportunity, coupled with continued expected growth in telecommunications infrastructure and expanding demand for traditional and new green pipeline services, positions us with multiple strong long term growth opportunities."