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Brookfield Infrastructure (BIP) Q3 Earnings Miss Estimates
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Brookfield Infrastructure Partners L.P. (BIP - Free Report) posted third-quarter 2019 operating earnings of 7 cents per share, which missed the Zacks Consensus Estimate of 81 cents by 91.3%. The company had reported a loss of 10 cents in the year-ago quarter.
Revenues
Revenues in the quarter under review totaled $1,664 million, up 42.6% year over year from $1,167 million.
Highlights
Direct operating costs in the reported quarter totaled $850 million, up 41% from $603 million in the year-ago quarter.
Interest expenses rose 63.6% year over year to $229 million from $140 million in the prior-year quarter.
Fund flow from operations (FFO) in the reported quarter was $338 million, up from $278 million in the prior-year quarter. The upside can be attributed to strong performance by the Utilities, Energy, Transport and Data Infrastructure segments.
Brookfield Infrastructure Partners LP Price, Consensus and EPS Surprise
American Electric Power (AEP - Free Report) reported third-quarter 2019 earnings of $1.46 per share, which surpassed the Zacks Consensus Estimate of $1.33 by 9.8%.
NextEra Energy (NEE - Free Report) reported third-quarter 2019 earnings of $2.39 per share, which beat the Zacks Consensus Estimate of $2.27 by 5.3%.
Avangrid (AGR - Free Report) reported third-quarter 2019 earnings of 40 cents, which missed the Zacks Consensus Estimate of 51 cents by 21.6%.
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Brookfield Infrastructure (BIP) Q3 Earnings Miss Estimates
Brookfield Infrastructure Partners L.P. (BIP - Free Report) posted third-quarter 2019 operating earnings of 7 cents per share, which missed the Zacks Consensus Estimate of 81 cents by 91.3%. The company had reported a loss of 10 cents in the year-ago quarter.
Revenues
Revenues in the quarter under review totaled $1,664 million, up 42.6% year over year from $1,167 million.
Highlights
Direct operating costs in the reported quarter totaled $850 million, up 41% from $603 million in the year-ago quarter.
Interest expenses rose 63.6% year over year to $229 million from $140 million in the prior-year quarter.
Fund flow from operations (FFO) in the reported quarter was $338 million, up from $278 million in the prior-year quarter. The upside can be attributed to strong performance by the Utilities, Energy, Transport and Data Infrastructure segments.
Brookfield Infrastructure Partners LP Price, Consensus and EPS Surprise
Brookfield Infrastructure Partners LP price-consensus-eps-surprise-chart | Brookfield Infrastructure Partners LP Quote
Segment Details
Utilities: FFO in this segment amounted to $145 million, up 11.5% year over year.
Transport: The segment generated FFO of $128 million, up 7.6% from $119 million in the year-ago quarter.
Energy: The segment generated FFO of $100 million, up 69.5% year over year.
Data Infrastructure: The segment generated FFO of $36 million, up 89.5% from $19 million in the prior-year quarter.
Corporate: The segment incurred a loss of $71 million in the quarter, wider than a loss of $49 million reported in the year-ago quarter.
Financial Update
As of Sep 30, 2019, Brookfield Infrastructure’s cash and cash equivalents were $677 million compared with $540 million of Dec 31, 2018.
Cash from operating activities was $589 million at the end of the third quarter, up from $337 million in the year-ago quarter.
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.
Utility Releases
American Electric Power (AEP - Free Report) reported third-quarter 2019 earnings of $1.46 per share, which surpassed the Zacks Consensus Estimate of $1.33 by 9.8%.
NextEra Energy (NEE - Free Report) reported third-quarter 2019 earnings of $2.39 per share, which beat the Zacks Consensus Estimate of $2.27 by 5.3%.
Avangrid (AGR - Free Report) reported third-quarter 2019 earnings of 40 cents, which missed the Zacks Consensus Estimate of 51 cents by 21.6%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
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