Brookfield Infrastructure (BIP) Q1 Earnings Miss Estimates
Brookfield Infrastructure Partners L.P. BIP posted first-quarter 2020 operating earnings of 13 cents per share, which missed the Zacks Consensus Estimate of 81 cents by 531%. The company had reported a loss of 5 cents in the year-ago quarter.
Revenues
Revenues in the quarter under review totaled $2,196 million, up 37.8% year over year from $1,593 million.
Highlights
Direct operating costs in the reported quarter totaled $1,239 million, up 57% from $798 million in the year-ago quarter.
Interest expenses rose 33% year over year to $282 million from $212 million in the prior-year quarter.
Fund flow from operations (FFO) in the reported quarter was $358 million, up from $351 million in the prior-year quarter. The upside can be attributed to organic growth of 6% and earnings associated with $1.6 billion of capital deployed during the past year.
Brookfield Infrastructure Partners LP Return on Assets (TTM)
Brookfield Infrastructure Partners LP return-on-assets-ttm | Brookfield Infrastructure Partners LP Quote
Segment Details
Utilities: FFO in this segment amounted to $146 million, up 6.5% year over year.
Transport: The segment generated FFO of $120 million, down 13.6% from $139 million in the year-ago quarter.
Energy: The segment generated FFO of $115 million, up 7.4% year over year.
Data Infrastructure: The segment generated FFO of $42 million, up 50% from $28 million in the prior-year quarter.
Corporate: The segment incurred a loss of $65 million in the quarter, wider than a loss of $60 million reported in the year-ago quarter.
Financial Update
As of Mar 31, 2020, Brookfield Infrastructure’s cash and cash equivalents were $1,226 million compared with $827 million as of Dec 31, 2019.
Cash from operating activities was $722 million at the end of the first quarter of 2020, up from $561 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
FirstEnergy Corporation FE delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%.
NextEra Energy NEE reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%.
CMS Energy Corporation CMS reported first-quarter 2020 adjusted earnings per share of 86 cents, which surpassed the Zacks Consensus Estimate of 77 cents by 11.7%.
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