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Here's What Key Metrics Tell Us About MasTec (MTZ) Q3 Earnings
For the quarter ended September 2024, MasTec (MTZ - Free Report) reported revenue of $3.25 billion, down 0.1% over the same period last year. EPS came in at $1.63, compared to $0.95 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $3.43 billion, representing a surprise of -5.31%. The company delivered an EPS surprise of +32.52%, with the consensus EPS estimate being $1.23.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how MasTec performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Communications: $927.20 million versus $972.90 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12.5% change.
- Revenue- Oil & Gas: $497.80 million compared to the $468.90 million average estimate based on two analysts. The reported number represents a change of -26% year over year.
- Revenue- Eliminations: -$23.50 million versus -$5 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +422.2% change.
- Revenue- Clean Energy and Infrastructure: $1.14 billion versus the two-analyst average estimate of $1.36 billion. The reported number represents a year-over-year change of +3.5%.
- Revenue- Power Delivery: $712.50 million compared to the $632 million average estimate based on two analysts. The reported number represents a change of +7.1% year over year.
View all Key Company Metrics for MasTec here>>>Shares of MasTec have returned -4.1% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.