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Last $80.18 USD
Change Today -0.27 / -0.34%
Volume 337.5K
MIC On Other Exchanges
Symbol
Exchange
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As of 2:59 PM 03/26/15 All times are local (Market data is delayed by at least 15 minutes).

macquarie infrastructure co (MIC) Key Developments

Macquarie Infrastructure Company Announces Management Changes

Macquarie Infrastructure Company announced that it has named Richard D. Courtney, currently president and chief operating officer of its International-Matex Tank Terminals subsidiary, to the role of chief executive officer of the business. James Hooke, chief executive officer of MIC, had served as interim CEO of the business since MIC's acquisition of IMTT in July of 2014 and will continue to serve as IMTT's executive chairman. Courtney's appointment is effective immediately. In his role as president and COO, Courtney has overseen day-to-day operations as well as acquisitions and business development for IMTT for the past seven years. He also serves on the board of directors of IMTT subsidiary OMI Environmental Services Inc., as well as the boards of Newfoundland Transshipment Limited and DM Petroleum Operations Company.

Macquarie Infrastructure Seeks Acquisitions

Jay Davis, Head of Investor Relations at Macquarie Infrastructure Company LLC (NYSE:MIC) said, "In addition to these ornery course type of growth projects, we expect to be able to deploy an additional roughly $100 million in relatively small, what we characterize, as bolt-on acquisitions by our existing businesses".

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

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.

Macquarie Infrastructure Company LLC Declares Cash Dividend for the Fourth Quarter of 2014, Payable on March 5, 2015

On February 17, 2015, the Macquarie Infrastructure Company LLC board authorized the payment of a cash dividend of $1.02 per share for the fourth quarter of 2014. The fourth quarter dividend will be paid on March 5, 2015 to shareholders of record on March 2, 2015. The authorized dividend represents an increase in MIC's cash dividend of 4.1% compared with the third quarter in 2014 and implies an annualized $4.08 per share.

Macquarie Infrastructure Company LLC to Report Q4, 2014 Results on Feb 18, 2015

Macquarie Infrastructure Company LLC announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Feb 18, 2015

 

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Valuation MIC Industry Range
Price/Earnings 5.0x
Price/Sales 3.8x
Price/Book 2.1x
Price/Cash Flow 5.2x
TEV/Sales 2.6x
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