MasTec Inc ( (MTZ) ) has released its Q4 earnings. Here is a breakdown of the information MasTec Inc presented to its investors.
MasTec, Inc. is a leading infrastructure construction company in North America, specializing in engineering, building, and maintaining communications, energy, and utility infrastructure. The company has announced its financial results for the fourth quarter and full year 2024, highlighting a record backlog and providing guidance for 2025.
In the fourth quarter of 2024, MasTec reported a revenue of $3.4 billion, a slight increase from the previous year. The company achieved a GAAP net income of $84.7 million, with diluted earnings per share of $0.95, a significant improvement from the previous year’s figures. Adjusted net income and adjusted diluted earnings per share also saw substantial growth, reaching $124.0 million and $1.44, respectively. The company’s adjusted EBITDA was $270.9 million, reflecting an improvement in its EBITDA margin rate.
For the full year 2024, MasTec’s revenue grew to $12.3 billion, with a GAAP net income of $199.4 million, reversing the net loss from the previous year. The adjusted EBITDA for the year increased by 19% to $1.0 billion. The company’s backlog reached a record $14.3 billion, indicating strong future growth opportunities.
Looking ahead, MasTec has provided guidance for 2025, expecting full-year revenue to reach $13.45 billion. The company anticipates GAAP net income to be between $327 million and $366 million, with adjusted EBITDA projected to range from $1.10 billion to $1.15 billion. This outlook reflects the company’s confidence in its continued growth and operational improvements.