Shares of MasTec were rallying Friday after the infrastructure construction company posted Q4 adjusted earnings per share and revenues that exceeded expectations of Wall Street analysts and issued upside guidance on Q1 and full-year EPS.
Q4 adjusted EPS was $0.70, compared with $0.21 in the Q4 of 2015, which beat analyst expectations of $0.54 in a Capital IQ poll. Revenue in Q4 was $1.34 billion, compared with $1.03 billion for the same period a year before. That was also higher than the average analyst forecast of $1.31 billion.
The company also issued forecasts for Q1 2017. It sees revenue of about $1.05 billion and adjusted EPS $0.50. That compares with analyst estimates of $1.11 billion for revenue and $0.23 for adjusted EPS in a Capital IQ survey.
It also predicted FY 2017 revenue of about $5.5 billion versus a Capital IQ estimate of $5.43 billion and FY 2017 adjusted EPS of about $2.35 against analyst forecasts of $2.10.