MasTec Reports Record $24.5 Billion Backlog and 30% Year-over-Year Revenue Growth in Q3
MasTec (MTZ) reported strong third-quarter financial results, highlighted by a 30% year-over-year increase in revenue to $5,152 million. The company achieved an adjusted EBITDA of $486 million and adjusted earnings per share of $2.96, representing a 19% increase compared to the previous year. A significant driver of future growth is the company's record-breaking backlog, which has reached $24.5 billion. Management expects to convert over $1 billion of gas generation projects into this backlog over the coming quarters, signaling sustained demand in its core infrastructure sectors.
Tickers: $MTZ
Topics: Backlog EBITDA EPS Revenue Growth
Read the full article at Seeking Alpha
Part of the story Cloudflare Shares Surge Following Strong Q3 Results and Raised Full-Year Guidance (85 articles)