MASTEC INC
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 31, 2024
MTZ$189.05+8.6%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
(unaudited - in thousands, except per share amounts)
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | $3,252,427 | $3,257,077 | $8,900,362 | $8,715,851 |
| Costs of revenue, excluding depreciation and amortization | 2,789,274 | 2,857,118 | 7,709,393 | 7,701,392 |
| Depreciation | 80,193 | 115,033 | 289,769 | 325,318 |
| Amortization of intangible assets | 34,368 | 42,266 | 101,669 | 126,252 |
| General and administrative expenses | 168,874 | 180,640 | 501,491 | 520,709 |
| Interest expense, net | 47,048 | 62,556 | 149,678 | 174,664 |
| Equity in earnings of unconsolidated affiliates, net | (7,042) | (6,787) | (22,153) | (23,434) |
| Loss on extinguishment of debt | — | — | 11,344 | — |
| Other expense (income), net | 2,754 | (16,623) | 4,639 | (26,332) |
| Income (loss) before income taxes | $136,958 | $22,874 | $154,532 | $(82,718) |
| (Provision for) benefit from income taxes | (31,548) | (7,569) | (39,813) | 34,231 |
| Net income (loss) | $105,410 | $15,305 | $114,719 | $(48,487) |
| Net income attributable to non-controlling interests | 10,170 | 1,009 | 26,671 | 2,215 |
| Net income (loss) attributable to MasTec, Inc. | $95,240 | $14,296 | $88,048 | $(50,702) |
| Earnings (loss) per share (Note 2): | ||||
| Basic earnings (loss) per share | $1.22 | $0.18 | $1.13 | $(0.65) |
| Basic weighted average common shares outstanding | 78,044 | 77,640 | 78,004 | 77,418 |
| Diluted earnings (loss) per share | $1.21 | $0.18 | $1.12 | $(0.65) |
| Diluted weighted average common shares outstanding | 78,913 | 78,455 | 78,801 | 77,418 |
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