UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

_________________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

        Date of report (Date of earliest event reported) November 9, 2006

MASTEC, INC.

(Exact Name of Registrant as Specified in Its Charter)

Florida
(State or Other Jurisdiction of Incorporation)

         0-08106 65-0829355
(Commission File Number) (IRS Employer Identification No.)

800 S. Douglas Road, 12th Floor, Coral Gables, Florida 33134
(Address of Principal Executive Offices) (Zip Code)

(305) 599-1800
(Registrant’s Telephone Number, Including Area Code)

N/A
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On November 9, 2006, MasTec, Inc. (the “Company”) issued a press release announcing its financial results as of and for the three months ended September 30, 2006. A copy of the press release is furnished as Exhibit 99.1 to this Report on Form 8-K.  The information contained in this report on Form 8-K, including Exhibit 99.1 shall not be deemed “filed” with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the Company under the Securities Act of 1933, as amended. 

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

  a) Financial Statements of Businesses Acquired Not Applicable.

  b) Pro Forma Financial Information Not Applicable.

  c) Exhibits: 99.1 Press Release dated November 9, 2006

SIGNATURE

                    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: November 10, 2006 MASTEC, INC.


BY: /S/ C. Robert Campbell
——————————————
C. Robert Campbell
Chief Financial Officer
MASTEC, INC.

EXHIBIT INDEX

Number Description

99.1 Press Release dated November 9, 2006





Contact:
J. Marc Lewis, Vice President-Investor Relations
305-406-1815
305-406-1886 fax
marc.lewis@mastec.com

For Immediate Release

MasTec Announces 32% Increase in Earnings from Continuing Operations, Strong Revenue Growth and Sale Agreement for Discontinued State DOT Assets

Coral Gables, FL (November 9, 2006) — MasTec, Inc. (NYSE: MTZ) today announced that for the quarter ended September 30, 2006, income from continuing operations was up 32% to $14.2 million, or $0.22 diluted earnings per share, on revenue of $253.9 million. This compares with income from continuing operations of $10.8 million, or $0.22 diluted earnings per share, on revenue of $221.0 million in the prior year quarter. Revenue for the third quarter of 2006 was up 15% over the comparable period of 2005. Without storm restoration revenue in the calculation, revenue for the quarter was up 20% over last year. Income from continuing operations for the first nine months of 2006 increased 186% to $29.9 million, or $0.46 per diluted share, compared with $10.5 million, or $0.21 per diluted share, for the comparable period of 2005.

The Company currently has gross liquidity, defined as bank cash plus credit line availability, of approximately $111 million, compared with $59 million at December 31, 2005. MasTec currently has no cash draws on its $150 million bank credit facility.

Additionally, the Company announced that it has entered into a definitive asset purchase agreement for the sale of its discontinued state Department of Transportation projects and assets. Terms of the sale include a purchase price of up to $20 million, composed of $6 million in cash, a note for $5 million and a contingent earn-out of up to $9 million. Included in the loss from discontinued operations for the third quarter of 2006 was a $13.7 million non-cash impairment charge to write down the assets to the net sales price in the sale agreement. The transaction is expected to close by January 31, 2007.

Austin J. Shanfelter, MasTec’s President and Chief Executive Officer, commented, “With the sale of the discontinued state DOT assets and projects, we are poised for continued operational enhancement. More importantly, our robust business model showed great strength this quarter. In the third quarter of 2005, we had significant, high-margin hurricane restoration revenue. Despite having minimal restoration revenue this quarter, we were able to grow year over year revenue in all categories. Our businesses are operating well as the CAPEX trends for all of our core markets look favorable for years to come. It is a promising time to be in our space.”

Reflecting the lack of experienced and expected storm restoration revenue in the third and fourth quarters of 2006 and higher legal fees, MasTec is now adjusting its earnings guidance for the year. The Company now expects 2006 total revenue from continuing operations to be in the range of $930 million to $940 million. Diluted earnings per share from continuing operations is expected to be between $0.65 and $0.70 per share for the year, representing an estimated increase of over 75% from last year’s $0.37 diluted earnings per share from continuing operations. We expect to issue full-year guidance for 2007 in January of next year.

Management will hold a conference call to discuss results of operations for the quarter ended September 30, 2006 on Friday, November 10, 2006 at 9:00 a.m. Eastern time. The call-in number for the conference call is (913) 981-5592 and the replay number is (719) 457-0820, with a pass code of 8789452. The replay will run for 30 days. Additionally, the call will be broadcast live over the Internet and can be accessed and replayed through the investor relations section of the Company’s website at www.mastec.com.

Summary financials for the quarters are as follows:

Condensed Unaudited Consolidated Statement of Operations
(In thousands, except per share amounts)

For the Three Months Ended
September 30,
2006 2005


                 
Revenue   $253,870   $220.969  
Costs of revenue, excluding depreciation     214,743    183,873  
Depreciation    3,711    3,932  
General and administrative expenses, including non-cash stock  
  compensation expense of $2,169 in 2006 and $195 in 2005    21,157    17,001  
Interest expense, net of interest income    2,155    4,804  
Other income (expense), net    3,130    (32)  


    Income from continuing operations before minority interest    15,234    11,327  
Minority interest    (986)    (573)  


Income from continuing operations    14,248    10,754  
                 
Loss from discontinued operations    (21,870)    (3,005)  


    Net income (loss)   $ (7,622)   $ 7,749  


Basic net income (loss) per share:  
   Continuing operations   $ 0.22   $ 0.22  
   Discontinued operations    (0.34)    (0.06)  


   Total basic net income (loss) per share   $ (0.12)   $ 0.16  


Basic weighted average common shares outstanding    65,024    49,039  


Diluted net income (loss) per share:  
   Continuing operations   $ 0.22   $ 0.22  
   Discontinued operations    (0.33)    (0.06)  


   Total diluted net income (loss) per share   $ (0.11)   $ 0.16  


Diluted weighted average common shares outstanding    66,243    50,033  



Condensed Unaudited Consolidated Balance Sheets
(In thousands)

September 30,
2006
December 31,
2005
                                Assets            
Total current assets   $ 357,816   $ 305,307  
Property and equipment, net    60,567    48,027  
Goodwill    150,702    127,143  
Deferred taxes, net    42,386    51,468  
Other assets    53,560    46,070  
Long-term assets held for sale    --    6,149  


      Total assets   $ 665,031   $ 584,164  


                 Liabilities and Shareholders' Equity  
Current liabilities   $ 183,138   $ 170,238  
Other liabilities    36,781    37,359  
Long-term debt    127,439    196,104  
Long-term liabilities related to assets held for sale    669    860  
Total shareholders' equity    317,004    179,603  




      Total liabilities and shareholders' equity   $ 665,031   $ 584,164  


Condensed Unaudited Consolidated Statements of Cash Flows
(In thousands)

For the Nine Months
Ended September 30,
2006 2005
Cash flows from operating activities:            
  Net cash provided by (used in) operating activities   $ 24,089   $ (16,758 )
  Net cash (used in) investing activities    (36,888 )  (2,102 )
  Net cash provided by financing activities    80,690    2,297  


  Net increase (decrease) in cash and cash equivalents    67,891    (16,563)  
  Net effect of currency translation on cash    47    (91)  
  Cash and cash equivalents - beginning of period    2,024    19,548  


Cash and cash equivalents - end of period   $ 69,962   $ 2,894  


MasTec [www.mastec.com] is a leading specialty contractor operating throughout the United States and in Canada across a range of industries. The Company’s core activities are the building, installation, maintenance and upgrade of communication and utility infrastructure systems.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These statements are based on management’s current expectations and are subject to a number of risks, uncertainties, and assumptions, including that our revenue and earnings per share may differ from that projected, that we may be impacted by business and economic conditions affecting our customers, material changes in estimates for legal costs or case settlements, the highly competitive nature of our industry, dependence on a limited number of customers, the adequacy of our insurance and other reserves and allowances for doubtful accounts, restrictions imposed by our credit facility and senior notes, the closing of the discontinued state DOT assets and projects sale on the anticipated terms and timing, as well as other risks detailed in our filings with the Securities and Exchange Commission. Actual results may differ significantly from results expressed or implied in these statements. We do not undertake any obligation to update forward-looking statements.