Macquarie Infrastructure Company LLC Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for 2015
Feb 18 15
Macquarie Infrastructure Company LLC announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the year, the company reported total revenue of $1,350,918,000 against $1,041,019,000 a year ago. Operating income was $34,307,000 against $45,639,000 a year ago. Net income before income taxes was $1,014,909,000 against $46,123,000 a year ago. Net income was $1,039,283,000 against $28,080,000 a year ago. Net income attributable to the company was $1,042,028,000 against $31,254,000 a year ago. Diluted income per share attributable to the company was $16.10 against $0.61 a year ago. Net cash provided by operating activities was $251,615,000 against $155,117,000 a year ago. Purchases of property and equipment were $123,946,000 against $111,208,000 a year ago. EBITDA excluding non-cash items were $385,544,000 against $257,634,000 a year ago. Maintenance capital expenditures were $25,520,000 against $18,582,000 a year ago. Free cash flow was $261,485,000 against $196,857,000 a year ago.
For the quarter, the company reported total revenue of $405,142,000 against $260,527,000 a year ago. Operating income was $60,181,000 against $19,752,000 a year ago. Net income before income taxes was $32,822,000 against $22,875,000 a year ago. Net income was $18,705,000 against $14,073,000 a year ago. Net income attributable to the company was $20,969,000 against $15,824,000 a year ago. EBITDA excluding non-cash items were $130,362,000 against $74,531,000 a year ago. Maintenance capital expenditures were $13,274,000 against $7,685,000 a year ago. Free cash flow was $90,912,000 against $53,717,000 a year ago.
For full year 2015, the company expects the performance of its existing businesses to improve, which will support a 14% higher cash dividend for the year compared with 2014. The company also expects to continue to prudently deploy growth capital as a means of increasing free cash flow.