MasTec Inc. (MTZ) released its first quarter results on Sunday, May 9, 2021. The company reported net earnings of $0.89 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 85 percent compared to the same period a year ago.
MasTec, Inc. was founded in 1929 and is headquartered in Coral Gables, Florida. MasTec, Inc., an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Electrical Transmission, and Other.
MasTec's revenue decreased 6 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 14.73% for the first quarter compared to the same period in the previous year, and operating margins increased to 5.52% over the same period. Net earnings for past trailing twelve months were $352.27 million, down 9% from the prior year.
Moving on to the balance sheet, MasTec's cash levels jumped 492% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 5.37% this past year. The current ratio for MasTec now stands at 1.56. The company decreased shares outstanding by 3.13%.
Shares of MTZ are currently trading around $111.28. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 23.15 and price to book ratio of 3.93.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Monday, May 10, 2021.