MasTec, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 05:16 pm EDT
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MasTec, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 2,874.12 million compared to USD 2,301.79 million a year ago. Net income was USD 15.54 million compared to USD 16.21 million a year ago. Basic earnings per share from continuing operations was USD 0.2 compared to USD 0.22 a year ago. Diluted earnings per share from continuing operations was USD 0.2 compared to USD 0.2 a year ago.
For the six months, sales was USD 5,458.77 million compared to USD 4,256.19 million a year ago. Net loss was USD 65 million compared to USD 18.77 million a year ago. Basic loss per share from continuing operations was USD 0.84 compared to USD 0.25 a year ago. Diluted loss per share from continuing operations was USD 0.84 compared to USD 0.27 a year ago.
MasTec, Inc. is an infrastructure construction company. The Company's segments include Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other. Its Communications segment provides engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure. Its Clean Energy and Infrastructure segment primarily serves energy, utility, government and other end-markets through the installation and construction of power generation facilities, primarily from clean energy and renewable sources. Oil and Gas segment provides engineering, construction and maintenance services for pipelines and processing facilities for the energy and utilities industries. Its Power Delivery segment serves the energy and utility industries through the engineering, construction and maintenance of power transmission and distribution infrastructure, including electrical and gas transmission lines, distribution network systems and substations.