MasTec Q2 Profit Rises, Lifts FY13 Outlook - Quick Facts

(RTTNews) - MasTec, Inc. (MTZ) Thursday reported second-quarter profit of $34.94 million or $0.41 per share, up from $30.09 million or $0.37 per share in the same period last year. Adjusted earnings for the quarter was $39.4 million or $0.47 per share. On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues dropped to $978 million from $989 million last year. Analysts expected revenues of $960.01 million.

Looking ahead to the third quarter, the company targets earnings of $0.60 per share , on revenues of approximately $1.15 billion. Analysts currently expect the company to earn $0.60 per share on third-quarter revenues of $1.09 billion.

For the fiscal 2013, the company has raised its adjusted earnings guidance to $1.88 per share from $1.80 per share, issued previously.

Revenues are projected at $4.15 billion, up from its previous guidance of $4.0 billion. Analysts currently expect the company to report full-year earnings of $1.80 per share on revenues of $4.02 billion.