MASTEC INC [MTZ] reports annual net loss of $47.3 million
Company Reports Revenue of $12.0 billion
MASTEC INC[MTZ] has reported a net loss of $47.3 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $12.0 billion
Based in CORAL GABLES, Florida, MASTEC INC operates in the CONSTRUCTION sector.
During the 12 months ended December 31, 2023, MasTec, Inc. reported a total revenue of $11.99 billion, showing a significant increase compared to $9.78 billion in the same period in 2022 and $7.95 billion in 2021.
The costs of revenue, excluding depreciation and amortization, also rose to $10.61 billion in 2023 from $8.59 billion in 2022 and $6.81 billion in 2021.
Net income for the current reporting period was a loss of $47.30 million, which was a decline from a profit of $33.89 million in 2022 and $330.73 million in 2021.
The basic (loss) earnings per share for MasTec, Inc. were $(0.64) in 2023, compared to $0.45 in 2022 and $4.54 in 2021. Similarly, the diluted (loss) earnings per share were also $(0.64) in 2023, down from $0.42 in 2022 and $4.45 in 2021.
Overall, MasTec, Inc. experienced a decrease in net income and earnings per share in 2023 compared to the previous years, despite a notable increase in revenue.
USInMinutes/IndiaInMinutes is an offering of 10kInfo, Inc., bringing you news on the latest regulatory filings. You may subscribe to more news alerts here. Although care is taken to ensure accuracy of the data, the article does not intend to replace user diligence while taking decisions of financial or legal implications