Brookfield Infrastructure Partners L.P
) announced fourth-quarter 2012 operating earnings of 25 cents
per unit, 56.9% lower than the Zacks Consensus Estimate of 58
cents. The results of the partnership were a nickel lower than
the year-ago earnings.
The partnership's 2012 operating earnings were 55 cents per unit,
down 52.2% from the year-ago earnings of $1.15 per unit. The
partnership's earnings were substantially lower than the Zacks
Consensus Estimate of $2.30.
The year-over-year decline in earnings was attributable to higher
depreciation and amortization expenses and lower revaluation gain
Total revenues at the end of the fourth quarter were $578
million, up 43% from the prior-year quarter, primarily due to a
healthy contribution from its Utilities and Transport &
The partnership generated total revenues of $2,004 million in
2012, beating the year-ago figure of $1,636 million by 22.5%.
Highlights of the Release
The partnership's direct operating costs during the year were
$1,094 million, increasing 21.7% from the comparable prior-year
period. A similar trend was noticed for general &
administrative and depreciation & amortization expenses,
which increased 55.7% and 82.7%, respectively from the comparable
During the quarter the partnership completed four previously
announced acquisitions and hived off assets which do not form a
part of its long-term plans.
The board of directors of Brookfield Infrastructure Partners
approved to increase the quarterly cash distribution rate to 43
cents per unit, a 15% increase from 0.375 cents distributed in
the previous quarter.
Pike Electric Corporation
) reported earnings of 67 cents per share in the second quarter
of fiscal 2013, surpassing the Zacks Consensus Estimate of 25
cents by 168%.
Brookfield Infrastructure acquired four assets in the fourth
quarter. If the company plans for any future acquisition, it can
borrow funds at a cheaper rate, thanks to its current BBB+
corporate credit rating.
Although the partnership raised its quarterly distribution rate,
rising operating cost is a cause of concern as it constrains the
The partnership currently retains a Zacks Rank #3 (Hold). We
), both having a Zacks Rank #1 (Strong Buy) and are yet to
announce their fourth quarter results.
Based in Hamilton, Bermuda Texas, Brookfield Infrastructure
Partners was founded in 2007. The partnership owns and operates
infrastructural assets on a global scale. The high quality, long
life assets allow the partnership to generate consistent cash
AMEREN CORP (AEE): Free Stock Analysis Report
BROOKFIELD INFR (BIP): Free Stock Analysis
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