CORAL GABLES, Fla. (AP) — CORAL GABLES, Fla. (AP) — MasTec Inc. (MTZ) on Thursday reported fourth-quarter profit of $753,000.
On a per-share basis, the Coral Gables, Florida-based company said it had net income of 1 cent. Earnings, adjusted for non-recurring costs and stock option expense, were 66 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The utility contractor posted revenue of $3.28 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $3.26 billion.
For the year, the company reported a loss of $49.9 million, or 64 cents per share. Revenue was reported as $12 billion.
For the current quarter ending in March, MasTec expects its per-share loss to be 48 cents.
The company said it expects revenue in the range of $2.6 billion for the fiscal first quarter.
MasTec expects full-year earnings to be $2.69 per share, with revenue expected to be $12.5 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTZ at https://www.zacks.com/ap/MTZ