MasTec, Inc. (MTZ) Thursday said first-quarter profit increased to $18.37 million or $0.22 per share from $14.17 million or $0.17 per share in the same period last year.
Income from continuing operations totaled $19.32 million or $0.23 per share, up from $11.70 million or $0.14 per share last year.
On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.24 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased to $918.65 million from $738.26 million last year. Analysts expected revenues of $854.87 million.
For the second quarter, the company has forecast earnings of $0.42 per share and revenues of approximately $950 million. Analysts currently expect the company to earn $0.48 per share on revenues of $1.03 billion.
Looking ahead to the fiscal 2013, the company currently projects earnings at $1.80 per share, with revenues in the upper end of the prior guidance range, at $4.0 billion. Analysts currently expect the company to report full-year earnings of $1.83 per share on revenues of $4.01 billion.
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