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Last $78.19 USD
Change Today +1.04 / 1.35%
Volume 339.0K
MIC On Other Exchanges
Symbol
Exchange
Frankfurt
As of 8:04 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

macquarie infrastructure cor (MIC) Key Developments

Macquarie Infrastructure Company LLC Presents at Three Part Advisors, LLC Midwest IDEAS Investor Conference 2015, Aug-26-2015 04:30 PM

Macquarie Infrastructure Company LLC Presents at Three Part Advisors, LLC Midwest IDEAS Investor Conference 2015, Aug-26-2015 04:30 PM. Venue: Hard Rock Hotel, 230 N. Michigan Ave., Chicago, IL 60601, United States. Speakers: Jay Davis, Managing Director.

Macquarie Infrastructure Company Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Macquarie Infrastructure Company announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company total revenue of $423,689,000 against $280,943,000 a year ago. Operating loss was $75,405,000 against operating income of $20,768,000 a year ago. Net loss before income taxes was $97,048,000 against net income before income taxes of $15,229,000 a year ago. Net loss attributable to the company was $63,096,000 or $0.80 per basic and diluted share against net income attributable to the company of $9,700,000 or $0.17 per basic and diluted share a year ago. EBITDA excluding non-cash items was $151,982,000 against $77,333,000 a year ago. Maintenance capital expenditures were $11,390,000 against $3,638,000 a year ago. Free cash flow was $77,793,000 against $59,467,000 a year ago. The company recorded $1.46 per share in adjusted proportionately combine free cash flow for the second quarter. EBITDA per share was up 23% or $0.37 per share. Free cash flow per share was up 46.2% or $0.46 per share. The 23.1% growth in EBITDA per share for the second quarter well eclipses historical average. The increase came from a mixture of organic growth and the deployment of growth capital. Of the $0.37 per share in EBITDA growth, it estimates that approximately half came from organic growth and the remainder came from the accretive deployment of capital on growth projects or acquisitions. The company also saw a maintenance CapEx reduction of $0.06 per share. In aggregate, with $0.37 per share more EBITDA, $0.06 per share less in maintenance CapEx, $0.13 per share less in taxes, and $0.11 per share more in interest, saw adjusted proportionately combined free cash flow grow by $0.46 per share or 46.1%. The company has deployed more than $500 million in growth CapEx this year. The losses in the second quarter and year to date periods in 2015 reflect a doubling of gross profit in both periods primarily offset by higher costs, including fees payable to MIC’s Manager of $154.6 million and $319.8 million, respectively. For the six months, the company total revenue of $822,187,000 against $557,138,000 a year ago. Operating loss was $191,315,000 against operating income of $48,393,000 a year ago. Net loss before income taxes was $242,896,000 against net income before income taxes of $43,875,000 a year ago. Net loss attributable to the company was $152,098,000 or $2.00 per basic and diluted share against net income attributable to the company of $30,066,000 or $0.53 per basic and diluted share a year ago. Net cash provided by operating activities was $193,944,000 against $131,335,000 a year ago. Purchases of property and equipment were $50,025,000 against $36,053,000 a year ago. EBITDA excluding non-cash items was $307,226,000 against $146,125,000 a year ago. Maintenance capital expenditures were $17,505,000 against $6,463,000 a year ago. Free cash flow was $201,570,000 against $112,261,000 a year ago. The revenue increases reflect the contribution from acquisitions concluded during the past year, and growth in the volume of products sold, partially offset by a reduction in energy costs, such as those for aviation fuel, which are passed through to customers of MIC’s businesses and recovered in revenue.

Macquarie Infrastructure Corporation Announces Dividend for the Second Quarter of 2015 Payable on August 18, 2015

Macquarie Infrastructure Corporation authorized a cash dividend for the second quarter of 2015 of $1.11 per share, up 16.8% from the $0.95 per share for the second quarter of 2014. The increase in quarterly cash dividend represents seventh consecutive quarterly increase. In this case, a 3.7% increase over the dividend paid in the first quarter of 2015, up from $1.07 to $1.11 per share. The dividend will be payable on August 18, 2015 to shareholders of record on August 13, 2015.

Macquarie Infrastructure Company LLC to Report Q2, 2015 Results on Aug 03, 2015

Macquarie Infrastructure Company LLC announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 03, 2015

Macquarie Infrastructure Company LLC, Q2 2015 Earnings Call, Aug 04, 2015

Macquarie Infrastructure Company LLC, Q2 2015 Earnings Call, Aug 04, 2015

 

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Valuation MIC Industry Range
Price/Earnings 6.7x
Price/Sales 3.8x
Price/Book 2.0x
Price/Cash Flow 5.6x
TEV/Sales 1.8x
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