UPDATE 2-Spain's Ferrovial says U.S. listing may not be until early 2024

(Recasts with U.S. listing plans, CFO quotes in paragraphs 3-4)

By Corina Pons and David Latona

MADRID, Oct 31 (Reuters) - Ferrovial's arrival on the U.S. stock market may not now take place until early next year, the Spanish infrastructure builder and operator's finance chief Ernesto Lopez said on Tuesday.

Ferrovial, which launched a dual listing in Amsterdam and Spain in June after moving its headquarters to the Netherlands, had also moved to accelerate a U.S. listing as a way to increase liquidity and gain access to financing in its largest market.

"We are running as fast as possible," Lopez told analysts on a call, adding that the timing of the U.S. listing depended on approval from the Securities and Exchange Commission (SEC).

It would make sense to keep Ferrovial listed on the Madrid stock exchange, Lopez added.

Ferrovial said earlier its revenues rose 12.3% between January and September to 6.22 billion euros ($6.57 billion) as investments in U.S. toll road concessions paid off.

The group said it earned 83% of its motorway business revenues in the U.S. Revenue from its toll road division rose by 41.2% to 781 million in the first nine months of 2023 versus a year ago.

Ferrovial has set up an artificial intelligence hub and plans to expand the use of AI across its main toll road and airport businesses by next year to better manage traffic.

Its construction division reported revenues of 5.14 billion euros, an 8.5% rise from the same nine-month period in 2022. Ferrovial has nine construction projects in the states of Texas and Florida with a total value of 1 billion euros.

Ferrovial also said that operations at Britain's busiest airport, Heathrow, in which it is a key shareholder remained positive, receiving 59.4 million passengers in the first nine months, up 34.4% from last year and passenger traffic in September exceeding pre-pandemic levels for the first time.

A recovery in traffic on routes Ferrovial manages in North America and above-inflation tariffs helped it beat analysts' average forecast of 6.1 billion euros in revenues.

The conglomerate, which has a market capitalisation of some 21 billion euros, reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 700 million euros in the nine month period, 34.1% more than in the same period last year, in line with analysts' estimates.

The higher profits in Ferrovial's motorways business offset lower margins in construction this year, analysts said. (Reporting by Corina Pons; Editing by David Latona, Mark Potter and Alexander Smith)