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Why MasTec Shares Gained 58.2% in 2019

TheMotleyFool

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Shares of infrastructure company MasTec (NYSE: MTZ) soared by 58.2% in 2019 according to data provided by S&P Global Market Intelligence. Those gains reflected the upgrades to its earnings outlook that it made throughout the year, as well as its bright prospects for 2020.

5G spending should help MasTec in 2020. Image source: Getty images.

At the start of 2019, management guided for full-year adjusted earnings before interest, taxation, depreciation, and amortization (EBITDA) of $780 million and adjusted diluted EPS of $4.34. Fast forward to the third-quarter earnings report in October, and management had lifted those forecasts to $842 million and $5.16 respectively.

Source Fool.com

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