MasTec had another banner year in 2012, the company announced on Thursday. The Coral Gables, Fla., infrastructure construction outfit, a perennial top earner on the HispanicBusiness 500 index, showed record revenue, net income and EBITDA for the year.
MasTec was the No. 2 company on the 2012 HispanicBusiness 500 directory, with 2011 revenues of $3 billion. The directory is issued each June.
"2012 was an excellent, record-breaking year for MasTec and its stakeholders," Jose R. Mas, MasTec CEO, said in a statement. It was the company's third year in a row of record results.
"We believe that it was validation of our long-term strategic plan and current market positioning," he added.
Highlights of the announcement include annual revenue of $3.7 billion in 2012, compared to $2.8 billion in 2011; an increase in net income of $117 million compared to $97 million; and diluted earnings per share of $1.42 compared to $1.13. EBITDA was up 35 percent to $332 million in the year.
For 2013, MasTec projects revenue of $3.9 billion-$4 billion, EBITDA of $410 million-$420 million, and continuing operations diluted earnings per share of $1.78-$1.83.
Related: Top 20 Hispanic-owned Companies in Florida 2012
Bob Campbell, MasTec's executive vice president and CFO, predicted the company would have high growth in oil and gas and electrical transmission in the next few years.
"As our confidence level regarding sustainable growth in these capital-intensive markets has risen, we have increased our investment in equipment to support our anticipated growth," he said in a statement. He said MasTec's capital expenditures for 2013 should be $100 million compared to $80 million in the year prior.
In 2012 the company sold its small municipal water and sewer business, which had been struggling, as well as DirectStart TV LLC, its DIRECTV retail marketing company.
Look for MasTec on the 2013 HispanicBusiness 500, to be released in June. If you would like your company to be part of the list, go to https://www.surveymonkey.com/s/NSYJKM7 to complete your company profile today!
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
SEPTEMBER 2, 2014
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