Welcome Stockaholics!

We are a new and fast growing financial forum! Sign up for free and let's talk stocks!

  1. Do you want to help develop this community? We are looking for contributions from investors and traders like you! What stocks do you follow? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing financial forum!
    Dismiss Notice
  2. You will notice a live chat widget on the right. Click in to join us and lets hear about how you nailed that last UWTI trade!
    Dismiss Notice

Macquarie Infrastructure Corporation (MIC)

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Marvan, Mar 20, 2019.

  1. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Warsaw, 19 Mar 2019

    PSA International Ptd Ltd (PSA), the Polish Development Fund (PFR) and the IFM Global Infrastructure Fund (GIF) managed by IFM Investors, have signed an Agreement, subject to formal approval by the relevant competition authorities, to jointly acquire 100% of the shares of DCT Gdańsk, the largest container terminal in Poland, from Macquarie Infrastructure and Real Assets (MIRA) managed fund Global Infrastructure Fund II, MTAA Super, AustralianSuper and Statewide Super.
     
  2. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
  3. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Covanta and Green Investment Group Reach Financial Close on the Rookery South Energy Recovery Facility

    London, March 2019

    Covanta Holding Corporation (NYSE: CVA) ("Covanta") and Green Investment Group Limited (“GIG”) today announced that the Rookery South Energy Recovery Facility (“Rookery”) in Bedfordshire, England has reached financial close and will commence construction. Covanta and GIG will each own 40 percent of the state-of-the-art facility, with primary waste supplier Veolia ES (UK) Limited (“Veolia”) owning the remaining 20 percent.
     
  4. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Sydney, 27 Mar 2019

    Macquarie Group Limited (ASX: MQG; ADR: MQBKY) (“MGL”) today announced that it has closed its offer of Macquarie Group Capital Notes 4 (the “Offer”) ("MCN4"). MGL issued 9,054,910 MCN4 at an issue price of $A100 each, raising $A905.5 million.

    MCN4 are expected to commence trading on the ASX on a deferred settlement basis from
    approximately 10am (AEDT) on Thursday, 28 March 2019, under the ASX code “MQGPD”. Trading on a normal settlement basis is expected to commence on Tuesday, 2 April 2019.

    https://www.macquarie.com/au/about/newsroom/2019/macquarie-group-capital-notes4-offer-closes
     
  5. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    New York, 28 Mar 2019

    Macquarie Group ("Macquarie") (ASX: MQG; ADR: MQBKY), today announced that the company received a perfect score of 100 percent on the Human Rights Campaign’s 2019 Corporate Equality Index (CEI). The index is the national benchmarking tool on corporate policies and practices pertinent to lesbian, gay, bisexual, transgender and queer (LGBTQ) employees.

    https://www.macquarie.com/au/about/newsroom/2019/macquarie-earns-perfect-score-on-2019-corporate-equality-index-for-lgbtq-inclusion
     
  6. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    MIC Enters into Agreements to Sell Operating Renewables Businesses
    • Sales of wind and solar power generation assets generate gross proceeds of $215 million
    • Transactions expected to close progressively throughout 2019, subject to receipt of regulatory approvals and consents
    Macquarie Infrastructure Corporation (MIC) announced that it has reached agreements for the sale of each of its portfolios of operating wind and solar power generation businesses. Aggregate gross proceeds to MIC from the sales are expected to be $215 million.

    https://finance.yahoo.com/news/mic-enters-agreements-sell-operating-213100694.html
     
  7. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Macquarie Bank April 2019 interest rate report – rates on hold at 1.5%

     
  8. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Macquarie Capital builds out investment banking business in Europe

    London, 09 Apr 2019

    • Macquarie Capital appoints Michael Magliana and Camelia Robu
    • Michael Magliana will join as Co-Head of the UK for Macquarie Capital’s Americas, Europe and Asia Group (AEA)
    • Camelia Robu has joined the firm in London as EMEA Head of Leveraged Finance
    • New senior appointments represent significant strengthening of Macquarie Capital’s strategic positioning across Europe
    Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group (Macquarie), has announced Michael Magliana as incoming Co-Head of the UK for its AEA Group and Camelia Robu as Head of Leveraged Finance in EMEA, based in London.

    Mr. Magliana brings significant senior expertise to Macquarie Capital’s existing presence across the region, with over 20 years of experience, mainly with JP Morgan and most recently Moelis and Jefferies. He will join Macquarie in September this year and will be responsible for deepening Macquarie Capital’s client relationships across core industry sectors and product on a pan European basis working alongside newly appointed Co-Head of the UK division of AEA, Jonny Allison.

    Mr. Magliana will also have additional responsibility for further strengthening Macquarie Capital’s advisory, lending and principal capabilities across core sectors including financial institutions, consumer, industrials, healthcare, TMT, services and technology - supported by recently appointedSimon Russell,Magnus ScaddanandFokke Eijsink.

    https://www.macquarie.com/au/about/newsroom/2019/macquarie-capital-builds-out-investment-banking-business-in-europe
     
  9. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Macquarie Capital appoints Managing Director to co-head aerospace, defense and government services coverage in Americas

    New York, 10 Apr 2019

    Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group (ASX: MQG; ADR: MQBKY), today announced the appointment of Timothy Alden as a Managing Director. Mr. Alden will co-head the firm’s aerospace, defense and government services coverage alongside co-head Jeremy Parker.

    Mr. Alden has more than 20 years of experience in the aerospace, defense, and government services sector. He has led a wide range of mergers and acquisitions and financing transactions for both corporate and financial sponsor clients. He joins Macquarie Capital from Jefferies, where he led that firm’s coverage of aerospace, defense and federal companies. Before Jefferies, he held senior investment banking roles at Goldman Sachs.

    Mr. Alden was also a commissioned aviation officer in the United States Army, piloting the Apache helicopter. He served in combat operations in Operation Enduring Freedom and other locations globally.

    “Tim has the deep transaction experience, relationships and sector expertise to help us meaningfully expand our offering to aerospace, defense and government services clients,” said Michael Silverton, Head of Macquarie Capital Americas, Europe and Asia. “We have been highly active in the space since 2016 under Jeremy’s leadership, supporting our corporate and sponsor clients, and continue to see important connectivity between it and Macquarie Capital’s overall offering in areas such as industrials, services and software.”

    Macquarie Capital advised CSRA on its $9.7 billion sale to General Dynamics, was financial advisor and joint bookrunner on The Carlyle Group’s acquisition of StandardAero and financial advisor and sole bookrunner on Veritas Capital’s $690 million acquisition of Peraton from Harris Corporation.

    Mr. Alden’s appointment adds to Macquarie Capital’s growing global capabilities with recent appointments made across sectors (includingRobert Bayer and Ajay Singh in industrials, Chris Rutherfordin upstream oil and gas, Simon Russellin software, Magnus Scaddanin consumer and retail, and John Katzenmeyerin financial technology), and emerging growth areas (Oliver Bradleyin Digital Infrastructure).

    https://www.macquarie.com/au/about/newsroom/2019/maccap-appoints-managing-director-to-cohead-aerospace-defense-and-government-services-coverage-in-americas
     
  10. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
  11. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Macquarie Infrastructure Partners Inc. is preparing to sell its natural gas storage business, Leaf River Energy Center, amid a series of deals in the sector, according to people familiar with the matter.

    The underground salt cavern facility could fetch more than $300 million in a sale, the people said, asking not to be identified because the matter is private. The sale process is expected to start in June, they said.

    The Smith County, Mississippi-based facility is expected to draw interest from pipeline companies, private equity players, and potentially some of its customers, they said.

    A representative for Macquarie declined to comment while a representative for Leaf River Energy didn’t respond to a request for comment.

    The decision to sell the asset follows Sempra Energy’s sale in February of its non-utility gas storage business to ArcLight Capital Partners for $328 million. Martin Midstream Partners is also currently marketing its gas storage assets.

    Macquarie Infrastructure Partners, a division of Australia’s Macquarie Group Ltd., acquired Leaf River Energy in 2012 for an undisclosed sum, according to a statement at the time.

    The facility has three operational caverns and is situated between shale fields in U.S. markets in the Northeast, Mid-Atlantic and Southeast with access to six interstate pipelines, according to its website.

    https://finance.yahoo.com/news/macquarie-infrastructure-put-leaf-river-155846349.html
     
  12. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Prague, 29 Apr 2019

    A Macquarie Infrastructure and Real Assets (MIRA) managed consortium of investors, which currently holds a 49.96 per cent stake in innogy Grid Holding (iGH), has exercised contractual pre-emption rights over the remaining 50.04 per cent stake currently owned by RWE. Upon completion, the consortium will own 100 per cent of iGH.

    iGH is the owner of GasNet, a regulated gas distribution network in the Czech Republic, with 2.3 million connections and a network length of circa 65,000km.

    Leigh Harrison, Head of MIRA Europe, Middle East and Africa, said: “GasNet provides an essential service within the Czech Republic’s energy sector. This investment represents an exciting opportunity for us to continue to support GasNet’s growth with long-term institutional capital. GasNet is a reliable and efficient network, and we are committed to ensuring it continues to meet the needs of its employees, customers, and the communities it serves.”

    A MIRA-managed consortium of investors has been invested in iGH since 2013 and have previously increased their stake from 35.00 per cent to 49.96 per cent in 2015.The transaction is expected to reach financial close in the second half of 2019, subject to merger control proceedings.

    https://www.macquarie.com/nl/about/...-increase-stake-in-innogy-grid-holding-to-100
     
  13. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    MIC Reports First Quarter 2019 Financial and Operational Results

    Results from continuing operations, including a refinery-related termination fee paid to IMTT, increased versus the first quarter of 2018 (the prior comparable period) and were in line with expectations:

    - Net income of $64 million, up 60%"

    - Adjusted EBITDA excluding non-cash items of $203 million, up 25%

    - Cash from operating activities of $151 million, up 16%

    - Adjusted Free Cash Flow of $158 million, up 26%

    Quarterly cash dividend of $1.00 per share authorized

    Continued progress on strategic priorities:

    - Ongoing investment in repurposing, repositioning of IMTT, development of storage and logistics infrastructure for fundamental users

    - Sale of renewable power generation businesses announced, sale of majority interest in renewable power developer underway

    - Leverage of 3.8x net debt/Adjusted EBITDA excluding non-cash items on a trailing twelve- month basis

    2019 guidance reaffirmed

    https://finance.yahoo.com/news/mic-reports-first-quarter-2019-211500832.html
     
  14. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Macquarie Infrastructure Co. (MIC) on Wednesday reported first-quarter net income of $70 million.

    The New York-based company said it had profit of 79 cents per share. Earnings, adjusted for one-time gains and costs, were $1.68 per share.

    The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

    The investment firm posted revenue of $482 million in the period.

    Macquarie shares have climbed 9.5% since the beginning of the year. The stock has climbed slightly more than 6% in the last 12 months.

    https://finance.yahoo.com/news/macquarie-1q-earnings-snapshot-134544294.html
     
  15. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Macquarie Infrastructure Company MIC reported diluted income per share of 79 cents in first-quarter 2019. Notably, the figure was lower than 91 cents per share reported in the year-ago quarter.
    Notably, high selling, general and administrative and depreciation costs and rise in interest expenses were primarily responsible for the year-over-year decline.
    Macquarie Infrastructure Company MIC reported diluted income per share of 79 cents in first-quarter 2019. Notably, the figure was lower than 91 cents per share reported in the year-ago quarter. Notably, high selling, general and administrative and depreciation costs and rise in interest expenses were primarily responsible for the year-over-year decline.

    Macquarie generated revenues of $482 million, up 3.2% year over year. The top line was driven by solid operational growth in the Atlantic Aviation segment. Product revenues were flat year over year while Service revenues jumped 3.7%. However, revenues missed the Zacks Consensus Estimate of $488 million.

    Macquarie Infrastructure Company Price, Consensus and EPS Surprise" style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px;">Macquarie Infrastructure Company Price, Consensus and EPS Surprise

    [​IMG]
    Macquarie Infrastructure Company Price, Consensus and EPS Surprise | Macquarie Infrastructure Company Quote

    Segment Details" style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px;">Segment Details

    International-Matex Tank Terminals (IMTT) segment came in at $161 million, up 16% year over year. It represented 33.3% of the company’s first-quarter revenues. The segment’s EBITDA improved 33% to $104 million." style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px;">Revenues from the International-Matex Tank Terminals (IMTT) segment came in at $161 million, up 16% year over year. It represented 33.3% of the company’s first-quarter revenues. The segment’s EBITDA improved 33% to $104 million.

    Atlantic Aviation segment generated revenues of $258 million, up 4% year over year and accounted for 53.4% of the company’s overall revenues. The segment’s EBITDA rose 13% to $79 million." style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px;">The Atlantic Aviation segment generated revenues of $258 million, up 4% year over year and accounted for 53.4% of the company’s overall revenues. The segment’s EBITDA rose 13% to $79 million.

    MIC Hawaii segment were flat year over year at $64 million. It represented 13.3% of overall quarterly revenues. The segment’s EBITDA increased 25%." style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px;">Revenues in the MIC Hawaii segment were flat year over year at $64 million. It represented 13.3% of overall quarterly revenues. The segment’s EBITDA increased 25%.

    Operating Costs" style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px;">Operating Costs

    In the reported quarter, Macquarie’s cost of services and cost of product sales decreased 10.2% and 17% year over year, respectively.

    Selling and administrative expenses were flat year over year at $80 million. Overall, operating expenses declined 8% to about $359 million.

    Liquidity & Cash Flow" style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px;">Liquidity & Cash Flow

    As of Mar 31, 2019, the company had cash and cash equivalents of $603 million and long-term debt of about $2,653 million. Its adjusted free cash flow for the quarter rose 20% year over year to $165 million.

    Macquarie authorized cash dividend of $1.00 per share for the first quarter, payable May 16 to shareholders of record as on May 13.

    Guidance" style="margin-bottom: 1em; color: rgb(0, 0, 0); font-family: Georgia, "Times New Roman", serif; font-size: 18px;">Guidance

    The company expects 2019 EBITDA in the range of $610-$635 million. It also expects to generate free cash flow in the band of $400-$445 million.

    https://finance.yahoo.com/news/macquaries-mic-q1-earnings-decline-143402200.html
     
  16. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
  17. Marvan

    Marvan Member

    Joined:
    Mar 16, 2019
    Messages:
    156
    Likes Received:
    10
    Local lawyers who had worked on Lambert airport privatization for Macquarie Group have severed the relationship, indicating the infrastructure giant may no longer be interested in making a bid in the controversial process.

    Lawyers with Lewis Rice and Gamble & Schlemeier on Tuesday deregistered as lobbyists for Macquarie, according to state records. People familiar with the matter said the Australian company will not bid on a lease to run Lambert, even if the process moves forward.

    A media consultant who had worked for Macquarie, Nicholas Pistor, confirmed he quit working for the firm. A Macquarie spokeswoman, Melissa McNamara, declined to comment. David Sweeney, an attorney with Lewis Rice who worked for Macquarie, didn't immediately respond to a request for comment. Nor did attorney David Jackson of Gamble & Schlemeier.

    The city of St. Louis, which owns Lambert, last year launched a work group to study privatization, which proponents believe will give the cash-strapped city a large infusion of money and lead to a better airport. The city has not yet issued a request for qualifications to potential bidders, which must occur before a request for proposals — and possible lease prices — can be reviewed.

    Mayor Lyda Krewson's representative on the work group, Deputy Mayor for Development Linda Martinez, couldn't immediately say when a request for qualifications could be issued.

    Asked whether the city's pace could have affected market interest in the project, Martinez said, "I don't want to speculate on market interest because that would be premature."

    Bob Poole, director of transportation policy at the Reason Foundation, a libertarian research organization based in Washington, D.C., said Macquarie, "a very reputable firm" in the infrastructure space, may have determined that "the prospects don't look that good."

    "That could mean several different things," Poole said. "One, when they really crunched the numbers, the fundamentals for growth and improvements from (public-private partnership) management didn't look as lucrative as they thought it could be."

    "Or it could be a political assessment," Poole said. "There may be a long, drawn out fight in order to get to 'yes' on this, and they have decided they have better opportunities that aren't as difficult."

    The privatization process has been controversial. For example, advisers to the city have collected large paydays, more than $4 million through the first quarter of this year, according to payment records. And a nonprofit tied to financier Rex Sinquefield, Grow Missouri, is paying the bills, but if Lambert is leased, it will be reimbursed from public funds. Another large initiative linked to Sinquefield — the unification of the city of St. Louis and St. Louis County — collapsed this month.

    Also, former Mayor Francis Slay, who launched the privatization process while in office, is now working for another potential bidder, Spanish firm Ferrovial, as a private lawyer.

    Another firm known to be interested in bidding is Los Angeles-based Oaktree Capital.

    Ferrovial spokesman Jose Luis Cobas del Pozo said Wednesday it is still interested in bidding. Jeff Rainford, a local lobbyist for Oaktree, did not immediately respond to a request for comment.

    Poole said privatization could still be "legitimate" with two or even one bidder. Still, he said, "the city's prospects for a higher total (lease) amount would be greater with robust competition."


    https://www.bizjournals.com/stlouis...rport-privatization.html?ana=yahoo&yptr=yahoo
     

Share This Page