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Brookfield Infrastructure (BIP) Q4 Earnings Miss Estimates
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Brookfield Infrastructure Partners L.P. (BIP - Free Report) incurred fourth-quarter 2019 loss of 7 cents per unit against the Zacks Consensus Estimate of earnings of 84 cents. The company had reported earnings of 6 cents in the year-ago quarter.
In 2019, the partnership delivered earnings of 7 cents per unit compared with 59 cents in 2018. However, prior-year quarter’s results include a gain on the sale of an electricity transmission business. On a comparable basis, net income increased 16% from the year-ago quarter’s figure. Net income for the year benefited from strong organic growth across operations and contributions from recent acquisitions.
Revenues
Revenues in the quarter under review totaled $1,655 million, up 15.8% year over year from $1,428 million.
In 2019, the partnership reported revenues of $6,597 million compared with $4,652 million in 2018.
Brookfield Infrastructure Partners LP Price, Consensus and EPS Surprise
Xcel Energy (XEL - Free Report) posted fourth-quarter 2019 operating earnings of 56 cents per share, which beat the Zacks Consensus Estimate of 53 cents by 5.6%.
NextEra Energy (NEE - Free Report) reported fourth-quarter 2019 adjusted earnings of $1.44 per share, which lagged the Zacks Consensus Estimate of $1.54 by 6.5%.
CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2019 adjusted earnings of 68 cents, which missed the Zacks Consensus Estimate of 69 cents.
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Brookfield Infrastructure (BIP) Q4 Earnings Miss Estimates
Brookfield Infrastructure Partners L.P. (BIP - Free Report) incurred fourth-quarter 2019 loss of 7 cents per unit against the Zacks Consensus Estimate of earnings of 84 cents. The company had reported earnings of 6 cents in the year-ago quarter.
In 2019, the partnership delivered earnings of 7 cents per unit compared with 59 cents in 2018. However, prior-year quarter’s results include a gain on the sale of an electricity transmission business. On a comparable basis, net income increased 16% from the year-ago quarter’s figure. Net income for the year benefited from strong organic growth across operations and contributions from recent acquisitions.
Revenues
Revenues in the quarter under review totaled $1,655 million, up 15.8% year over year from $1,428 million.
In 2019, the partnership reported revenues of $6,597 million compared with $4,652 million in 2018.
Brookfield Infrastructure Partners LP Price, Consensus and EPS Surprise
Brookfield Infrastructure Partners LP price-consensus-eps-surprise-chart | Brookfield Infrastructure Partners LP Quote
Highlights
Direct operating costs in the reported quarter amounted to $907 million, up 24.4% from $729 million in the year-ago quarter.
Interest expenses rose 26.1% year over year to $222 million from $176 million in the prior-year quarter.
Fund flow from operations (FFO) in the reported quarter was $358 million, up from $326 million in the prior-year quarter.
Segment Details
Utilities: FFO in the segment was $152 million, up 10.1% year over year.
Transport: The segment generated FFO of $128 million, down from $129 million in the year-ago quarter.
Energy: The segment generated FFO of $109 million, up 21.1% year over year.
Data Infrastructure: The segment generated FFO of $42 million, up from $20 million in the prior-year quarter.
Corporate: This segment incurred a loss of $73 million in the quarter, wider than a loss of $51 million in the year-ago quarter.
Financial Update
As of Dec 31, 2019, Brookfield Infrastructure’s cash and cash equivalents were $827 million compared with $540 million of Dec 31, 2018.
Cash from operating activities was $413 million at the end of three months ended in Dec 31, 2019, up from $376 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
Xcel Energy (XEL - Free Report) posted fourth-quarter 2019 operating earnings of 56 cents per share, which beat the Zacks Consensus Estimate of 53 cents by 5.6%.
NextEra Energy (NEE - Free Report) reported fourth-quarter 2019 adjusted earnings of $1.44 per share, which lagged the Zacks Consensus Estimate of $1.54 by 6.5%.
CMS Energy Corporation (CMS - Free Report) reported fourth-quarter 2019 adjusted earnings of 68 cents, which missed the Zacks Consensus Estimate of 69 cents.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>