Why MasTec Stock Is Sinking Today
Shares of MasTec (NYSE: MTZ) were falling on Friday after the engineering and construction company reported quarterly results that didn't meet investor expectations. As of midafternoon today, the stock was down by nearly 12%.
After market hours Thursday, MasTec announced that it earned $1.8 billion in its fourth quarter, almost 11% higher than in the same period of 2020. Going in the opposite direction, though, was non-GAAP (adjusted) net income, which declined to just under $100 million ($1.35 per share) from the year-ago profit of $128 million.
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Source Fool.com
