Mastec announces third quarter 2022 financial results with record backlog and updated annual 2022 guidance

Third quarter 2022 revenue increased to $2.5 billion with a 38% year over year increase in non-oil & gas segment revenue gaap net income of $49.2 million, diluted earnings per share of $0.65 and adjusted diluted earnings per share of $1.34 adjusted ebitda of $246 million or 9.8% of revenue, a 200-basis point sequential improvement over second quarter record 18-month backlog as of september 30, 2022 of $11.2 billion, a sequential increase of $222 million and a $2.7 billion increase over the same quarter last year annual 2022 guidance updated to $9.7 billion in revenue, gaap net income of $50 million, adjusted ebitda of $780 million and adjusted diluted earnings per share of $3.02 coral gables, fla. , nov. 3, 2022 /prnewswire/ -- mastec, inc. (nyse: mtz) today announced 2022 third quarter financial results and updated its view for annual 2022 financial results, inclusive of the iea acquisition completed on october 7, 2022.
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