MasTec reports Q4 non-GAAP EPS 66c, consensus 44c

Reports Q4 revenue $3.3B, consensus $3.26B. CEO Jose Mas commented, “Q4 results were in line with our expectations after a challenging 2023. We look forward to the opportunities we have this year and expect to deliver record levels of revenue and adjusted EBITDA in 2024. Demand is very strong for our services, and I expect 2024 will position us to deliver double digit revenue and earnings growth in 2025 and beyond.” CFO Paul DiMarco noted, “I’m pleased that we were able to finish 2023 with strong cash flow generation of almost $500M in Q4, significantly exceeding our prior expectations. DSO, at 74 days was at its lowest level since mid-2017. We are keenly focused on capital allocation to ensure we are generating appropriate returns on the capital we deploy. We will continue to focus on improving the tools and processes we utilize to measure and optimize our performance, and to capitalize on the robust demand environment provided by our end markets.”