Yahoo Finance Earnings To Watch: MasTec (MTZ) Reports Q2 Results Tomorrow
Infrastructure construction company MasTec (NYSE:MTZ) will be reporting results tomorrow after market close. Here's what to expect.
MasTec beat analysts' revenue expectations by 2.5% last quarter, reporting revenues of $2.69 billion, up 4% year on year. It was a slower quarter for the company, with a miss of analysts' earnings estimates.
Is MasTec a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting MasTec's revenue to grow 7.6% year on year to $3.09 billion, slowing from the 24.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.87 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MasTec has missed Wall Street's revenue estimates three times over the last two years.
Looking at MasTec's peers in the construction and engineering segment, some have already reported their Q2 results, giving us a hint as to what we can expect. EMCOR delivered year-on-year revenue growth of 20.4%, beating analysts' expectations by 3.9%, and Comfort Systems reported revenues up 39.6%, topping estimates by 6.9%. EMCOR traded up 2.2% following the results while Comfort Systems was also up 5.9%.
Read our full analysis of EMCOR's results here and Comfort Systems's results here.
There has been positive sentiment among investors in the construction and engineering segment, with share prices up 9.4% on average over the last month. MasTec is up 5.3% during the same time and is heading into earnings with an average analyst price target of $117.6 (compared to the current share price of $106.37).
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