Brookfield Infrastructure Partners L.P. (BIP - Free Report) reported third-quarter 2017 loss of 4 cents per unit. The Zacks Consensus Estimate for the quarter was pegged at earnings of 82 cents per unit.
The partnership reported earnings of 16 cents per unit in the year-ago quarter. The net income of Brookfield Infrastructure was higher across all of its operating segments compared to the third quarter of 2016. However, the positives were offset by the impact of non-cash movements relating to foreign currency hedges.
Revenues
Brookfield Infrastructure’s revenues came in at $961 million in the quarter beating Zacks Consensus Estimate of $914 million by 5.1%. Revenues increased 84.1% year over year from $522 million.
Highlights of the Release
Direct operating costs in the reported quarter were $394 million, increasing 47.6% from $267 million in the year-ago period.
Interest expenses in the reported quarter increased 16.3% year over year to $114 million from $98 million.
Fund flow from operations (FFO) in the reported quarter was $301 million, up 28.1% from $235 million in the prior-year quarter.
Other Releases
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2017 adjusted earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.75 by 5.7%.
Xcel Energy (XEL - Free Report) reported third-quarter 2017 adjusted earnings of 97 cents per share, beating the Zacks Consensus Estimate of 92 cents by 5.4%.
DTE Energy (DTE - Free Report) reported third-quarter 2017 earnings of $1.48 per share, lagging the Zacks Consensus Estimate of $1.53 by 3.3%.
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Brookfield Infrastructure Partners L.P. (BIP - Free Report) reported third-quarter 2017 loss of 4 cents per unit. The Zacks Consensus Estimate for the quarter was pegged at earnings of 82 cents per unit.
The partnership reported earnings of 16 cents per unit in the year-ago quarter. The net income of Brookfield Infrastructure was higher across all of its operating segments compared to the third quarter of 2016. However, the positives were offset by the impact of non-cash movements relating to foreign currency hedges.
Revenues
Brookfield Infrastructure’s revenues came in at $961 million in the quarter beating Zacks Consensus Estimate of $914 million by 5.1%. Revenues increased 84.1% year over year from $522 million.
Highlights of the Release
Direct operating costs in the reported quarter were $394 million, increasing 47.6% from $267 million in the year-ago period.
Interest expenses in the reported quarter increased 16.3% year over year to $114 million from $98 million.
Fund flow from operations (FFO) in the reported quarter was $301 million, up 28.1% from $235 million in the prior-year quarter.
Other Releases
NextEra Energy, Inc. (NEE - Free Report) reported third-quarter 2017 adjusted earnings of $1.85 per share, beating the Zacks Consensus Estimate of $1.75 by 5.7%.
Xcel Energy (XEL - Free Report) reported third-quarter 2017 adjusted earnings of 97 cents per share, beating the Zacks Consensus Estimate of 92 cents by 5.4%.
DTE Energy (DTE - Free Report) reported third-quarter 2017 earnings of $1.48 per share, lagging the Zacks Consensus Estimate of $1.53 by 3.3%.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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