Macquarie Infrastructure Company MIC reported diluted income per share of 13 cents in second-quarter 2019. Notably, the figure was lower than 45 cents per share reported in the year-ago quarter.Higher 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 $416 million, down 4.6% year over year. The decline was attributable to divesture of some of its businesses in 2018. Product revenues came in at $61 million, an increase of 1.7%. However, service revenues declined 5.6% to $355 million. Notably, the top line surpassed the Zacks Consensus Estimate of $412 million. https://uk.finance.yahoo.com/news/macquarie-infrastructures-mic-q2-earnings-143002870.html
Macquarie Infrastructure Corporation (NYSE: MIC) announced its second quarter 2019 financial results. Results from operating businesses broadly in line with management's expectations Quarterly cash dividend of $1.00 per share authorized Average storage utilization at IMTT increased sequentially to 82.9% in the second quarter of 2019; current utilization approximately 83.5% Stable GA flight activity supports improved contribution by Atlantic Aviation 2018 rate case, sale of mechanical contractor business improved results at MIC Hawaii Sales of operating wind portfolio, all but one facility in operating solar portfolio and majority interest in solar development business closed in July; substantially completes exit of smaller and non-core businesses Leverage reduced to 3.6x net debt / EBITDA proforma for net sale proceeds, deconsolidation of debt $350 million of 2.875% Convertible Senior Notes repaid at maturity on July 15, 2019 Full year 2019 EBITDA and Free Cash Flow guidance for operating businesses reaffirmed, revised lower for Corporate and Other segment Guidance for growth capital deployment reduced as historically high water level slows projects on Mississippi River https://www.macquarie.com/mgl/com/m...reports-second-quarter-2019-financial-results
Macquarie Infrastructure Corporation (MIC) today announced its intention to actively pursue strategic alternatives including a sale of the Company or its operating businesses as a means of unlocking value for shareholders. https://finance.yahoo.com/news/macq...orporation-announces-intention-110100122.html
MIC Reports Third Quarter 2019 Financial And Operational Results October 31, 2019 - Results in line with management's guidance - In a separate press release today, MIC announced its intention to pursue strategic alternatives - 2019 guidance for EBITDA, Free Cash Flow and dividends reaffirmed - Quarterly cash dividend of $1.00 per share authorized - Storage utilization at IMTT increases sequentially to an average of 85.2% from 82.9%; substantially all heavy and residual oil storage on the Lower Mississippi River now leased - Flight activity increases 1% at airports at which Atlantic Aviation operates - Sales of remaining renewable power facilities completed - Leverage stable at 3.6x net debt / EBITDA, as forecast - Growth capital deployment expected to top $200 million in 2019 https://finance.yahoo.com/news/mic-reports-third-quarter-2019-110000195.html
Macquarie Infrastructure Company MIC reported income per share of 71 cents in third-quarter 2019. The figure was higher than 25 cents per share reported in the year-ago quarter. Lower operating expenses were primarily responsible for the year-over-year increase. On an adjusted basis, the company’s earnings came in at 98 cents per share, in line with the Zacks Consensus Estimate. Macquarie generated revenues of $405 million, down 3.8% year over year. The decline was attributable to divesture of some of its businesses in 2018. Product revenues came in at $58 million, a decrease of 3.3%. Service revenues declined 3.9% to $347 million. The top line missed the Zacks Consensus Estimate of $417 million. Macquarie Infrastructure Company Price, Consensus and EPS Surprise Macquarie Infrastructure Company Price, Consensus and EPS Surprise Macquarie Infrastructure Company price-consensus-eps-surprise-chart | Macquarie Infrastructure Company Quote Segment Details Revenues from International-Matex Tank Terminals came in at $118 million, flat year over year. It represented 29% of the company’s third-quarter revenues. The segment’s EBITDA decreased 10.1% to $62 million. Atlantic Aviation generated revenues of $230 million, down 2.1% year over year and accounted for 56.7% of the company’s overall revenues. The segment’s EBITDA fell 1.5% to $64 million. Revenues in MIC Hawaii came in at $58 million, down 15.9% year over year. It represented 14.3% of overall quarterly revenues. The segment’s EBITDA increased to $12 million. Operating Costs In the third reported quarter, Macquarie’s cost of services decreased 7.8%, whereas cost of product sales increased 10% year over year. Selling and administrative expenses were $81 million, an increase of 3.8% year over year. Overall, operating expenses declined 5.2% to about $349 million. Liquidity & Cash Flow As of Sep 30, 2019, the company had cash and cash equivalents of $473 million, down from $589 million on Dec 31, 2018. Long-term debt was $2,654 million, up from $2,653 million recorded at the end of 2018. Macquarie authorized cash dividend of $1.00 per share for the third quarter, payable Nov 14 to shareholders of record as on Nov 11. Guidance The company expects 2019 adjusted EBITDA in the range of $600-$625 million. It expects to generate adjusted free cash flow in the band of $390-$435 million. https://finance.yahoo.com/news/macquaries-mic-q3-earnings-rise-131901576.html
