Benzinga | May 6, 2021 05:15PM EDT

MasTec Sees FY21 Revs ~$8.2B Vs $7.7B Est

The Company is increasing annual 2021 guidance expectations based on strong first quarter results and the expected partial year benefit of the recently announced INTREN acquisition. Based on the information available today, the Company estimates annual 2021 revenue of approximately $8.2 billion, a $400 million increase over prior guidance. Annual 2021 GAAP net income and diluted earnings per share are expected to approximate $322 million and $4.35, respectively. Annual 2021 adjusted EBITDA, a non-GAAP measure, is expected to be $930 million, and annual 2021 adjusted diluted earnings per share, a non-GAAP measure, is expected to be $5.40, a $0.40 increase over prior guidance.