Brookfield Infrastructure Profit Rises in 1Q

Dow Jones05-01

By Adriano Marchese

Brookfield Infrastructure Partners profit rose in the first quarter on strong operational performance and contribution from its latest acquisitions.

The Canadian manager of infrastructure assets on Wednesday posted a net income of $170 million, up from $23 million in the comparable quarter a year ago.

On a per-share basis, this was a profit of 10 cents a share compared with a loss of 7 cents a share. Analysts on FactSet expected a rise to 16 cents.

Brookfield credits the rise to strong operational performance and the contribution from recent acquisitions but noted that borrowing costs were higher in the quarter.

Revenue rose to $5.19 billion from $4.22 billion.

Funds from operations were also higher, rising 11% to $615 million.

Chief Executive Sam Pollock said that it benefited from inflation indexation, as well as better-than-expected economic activity and strong contributions from new investments in the period.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 01, 2024 07:16 ET (11:16 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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