Brookfield Infrastructure Partners L.P. (BIP - Free Report) incurred first-quarter 2019 loss of 5 cents per unit against the Zacks Consensus Estimate of earnings of 84 cents. In the prior-year quarter, earnings came in at 42 cents per unit. Notably, the quarterly results were hurt by the impact of foreign exchange.
Revenues
Revenues in the quarter under review totaled $1,593 million, which improved 57.2% year over year from $1,013 million.
Highlights
Direct operating costs in the reported quarter were $798 million, up 95.1% from $409 million in the year-ago quarter.
Interest expenses rose 86% year over year to $212 million from $114 million in the prior-year quarter.
Fund flow from operations (FFO) in the reported quarter was $351 million, up from $333 million in the prior-year quarter. The upside can be attributed to strong performance by the Transport, Energy and Data Infrastructure segments.
Segment Details
Utilities: FFO at this segment was $137 million, down 18.9% year over year.
Transport: The segment generated FFO of $139 million, up from $137 million in the year-ago quarter.
Energy: The segment generated FFO of $107 million, up 62% year over year.
Data Infrastructure: The segment generated FFO of $28 million, up from $19 million in the prior-year quarter.
Corporate: This segment incurred a loss of $60 million in the quarter, wider than a loss of $58 million in the year-ago quarter.
Financial Update
As of Mar 31, 2019, Brookfield Infrastructure’s cash and cash equivalents were $720 million compared with $540 million of Dec 31, 2018.
Cash from operating activities was $561 million at the end first quarter, up from $466 million in the year-ago period.
Zacks Rank
Brookfield Infrastructure has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
DTE Energy Company (DTE - Free Report) delivered first-quarter 2019 operating earnings per share of $2.05, which exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.
NextEra Energy, Inc (NEE - Free Report) reported first-quarter 2019 adjusted earnings of $2.20 per share, which outpaced the Zacks Consensus Estimate of $2.01 by 9.4%.
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2019 operating earnings of 67 cents per share, which surpassed the Zacks Consensus Estimate of 66 cents by 1.52%.
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Brookfield Infrastructure Partners L.P. (BIP - Free Report) incurred first-quarter 2019 loss of 5 cents per unit against the Zacks Consensus Estimate of earnings of 84 cents. In the prior-year quarter, earnings came in at 42 cents per unit. Notably, the quarterly results were hurt by the impact of foreign exchange.
Revenues
Revenues in the quarter under review totaled $1,593 million, which improved 57.2% year over year from $1,013 million.
Highlights
Direct operating costs in the reported quarter were $798 million, up 95.1% from $409 million in the year-ago quarter.
Interest expenses rose 86% year over year to $212 million from $114 million in the prior-year quarter.
Fund flow from operations (FFO) in the reported quarter was $351 million, up from $333 million in the prior-year quarter. The upside can be attributed to strong performance by the Transport, Energy and Data Infrastructure segments.
Segment Details
Utilities: FFO at this segment was $137 million, down 18.9% year over year.
Transport: The segment generated FFO of $139 million, up from $137 million in the year-ago quarter.
Energy: The segment generated FFO of $107 million, up 62% year over year.
Data Infrastructure: The segment generated FFO of $28 million, up from $19 million in the prior-year quarter.
Corporate: This segment incurred a loss of $60 million in the quarter, wider than a loss of $58 million in the year-ago quarter.
Financial Update
As of Mar 31, 2019, Brookfield Infrastructure’s cash and cash equivalents were $720 million compared with $540 million of Dec 31, 2018.
Cash from operating activities was $561 million at the end first quarter, up from $466 million in the year-ago period.
Zacks Rank
Brookfield Infrastructure has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Utility Releases
DTE Energy Company (DTE - Free Report) delivered first-quarter 2019 operating earnings per share of $2.05, which exceeded the Zacks Consensus Estimate of $1.95 by 5.1%.
NextEra Energy, Inc (NEE - Free Report) reported first-quarter 2019 adjusted earnings of $2.20 per share, which outpaced the Zacks Consensus Estimate of $2.01 by 9.4%.
FirstEnergy Corporation (FE - Free Report) delivered first-quarter 2019 operating earnings of 67 cents per share, which surpassed the Zacks Consensus Estimate of 66 cents by 1.52%.
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
Click to get it free >>
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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