Here's What Key Metrics Tell Us About MasTec (MTZ) Q3 Earnings

Core Insights - MasTec reported revenue of $3.25 billion for the quarter ended September 2024, a slight decrease of 0.1% year-over-year, with an EPS of $1.63, up from $0.95 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $3.43 billion, resulting in a surprise of -5.31%, while the EPS exceeded expectations by 32.52% compared to the consensus estimate of $1.23 [1] Revenue Breakdown - Communications revenue was $927.20 million, compared to an estimated $972.90 million, reflecting a year-over-year increase of 12.5% [3] - Oil & Gas revenue reached $497.80 million, surpassing the average estimate of $468.90 million, but showed a significant decline of 26% year-over-year [3] - Eliminations revenue was reported at -$23.50 million, worse than the estimated -$5 million, marking a drastic increase of 422.2% compared to the previous year [3] - Clean Energy and Infrastructure revenue was $1.14 billion, below the estimated $1.36 billion, with a year-over-year growth of 3.5% [3] - Power Delivery revenue was $712.50 million, exceeding the average estimate of $632 million, indicating a year-over-year increase of 7.1% [3] Stock Performance - Over the past month, MasTec's shares have declined by 4.1%, contrasting with a 1% increase in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]