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Last $84.48 USD
Change Today -0.68 / -0.80%
Volume 42.2K
MIC On Other Exchanges
Symbol
Exchange
New York
As of 10:38 AM 05/26/15 All times are local (Market data is delayed by at least 15 minutes).

macquarie infrastructure cor (MIC) Snapshot

Open
$85.13
Previous Close
$85.16
Day High
$85.42
Day Low
$84.40
52 Week High
05/5/15 - $86.84
52 Week Low
06/18/14 - $59.38
Market Cap
6.7B
Average Volume 10 Days
461.1K
EPS TTM
$3.90
Shares Outstanding
79.4M
EX-Date
05/12/15
P/E TM
21.7x
Dividend
$4.28
Dividend Yield
4.74%
Current Stock Chart for MACQUARIE INFRASTRUCTURE COR (MIC)

macquarie infrastructure cor (MIC) Related Businessweek News

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macquarie infrastructure cor (MIC) Details

Macquarie Infrastructure Company LLC, through its subsidiaries, owns, operates, and invests in infrastructure businesses that provide services to businesses and individuals primarily in the United States. It operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power and Energy (CP&E), and Hawaii Gas. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, various chemicals, renewable fuels, and vegetable and animal oils at 10 marine terminals in the United States and 2 marine terminals in Canada. This segment also provides environmental emergency responses, industrial services, and waste transportation and disposal services. The Atlantic Aviation segment offers fueling and fuel-related services, aircraft parking, and hangar services to owners/operators of jet aircraft primarily in the general aviation, commercial, military, freight, and government aviation sectors at 69 airports in the United States. The CP&E segment generates electricity through renewable energy sources. As of December 31, 2014, it had interests in five solar power generating facilities with an aggregate generating capacity of 57 megawatts (MW) located in Arizona, California, and Texas; and two wind power generating facilities with an aggregate generating capacity of 203 MW located in New Mexico and Idaho. The Hawaii Gas segment engages in processing, distributing, and selling synthetic natural gas and liquefied natural gas; and distributing and selling liquefied petroleum gas to residential, commercial, hospitality, military, and wholesale customers, as well as to public sector in Oahu, Hawaii, Maui, Kauai, Molokai, and Lanai. This segment’s products are used in various commercial and residential applications, such as water heating, drying, cooking, emergency power generation, and decorative lighting, as well as for specialty vehicles. The company was founded in 2004 and is based in New York, New York.

3,218 Employees
Last Reported Date: 02/18/15
Founded in 2004

macquarie infrastructure cor (MIC) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $3.4M
Chief Financial Officer
Total Annual Compensation: $639.7K
Compensation as of Fiscal Year 2014.

macquarie infrastructure cor (MIC) Key Developments

Macquarie Infrastructure Company Announces Conversion of the Company to a Corporation from Limited Liability Company

The shareholders of Macquarie Infrastructure Company at the special meeting of shareholders held on May 15, 2015, approved the conversion of the company to a Delaware corporation from a Delaware Limited Liability Company (LLC). The conversion is expected to be completed on May 21, 2015 at which time each existing LLC membership interest will be automatically converted into one share of the Common Stock of Macquarie Infrastructure Corporation. The conversion will have no impact on the business or management of the Company and will be treated as a tax free exchange.

Macquarie Infrastructure Company LLC Declares Cash Dividend for the First Quarter of 2015, Payable on May 19, 2015; Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Macquarie Infrastructure Company LLC board of directors has authorized a cash dividend of $1.07 per share, or $4.28 annualized, for the first quarter of 2015. The dividend will be payable on May 19, 2015 to shareholders of record on May 14, 2015. The quarterly cash payment represents a 4.9% increase over the dividend paid for the fourth quarter of 2014. The company reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $398,498,000 against $276,195,000 for the same period a year ago. Operating loss was $115,910,000 against operating income of $27,625,000 for the same period a year ago. Net loss before income taxes was $145,848,000 against net income before income taxes of $28,646,000 for the same period a year ago. The net loss reflects primarily the impact of the performance fees incurred in the 2015 quarter. Net loss attributable to the company was $89,002,000 or $1.22 per basic and diluted share against $20,366,000 or $0.36 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $117,016,000 against $59,077,000 for the same period a year ago. Purchases of property and equipment were $25,481,000 against $21,613,000 for the same period a year ago. Maintenance capital expenditures were $6,115,000 against $2,825,000 for the same period a year ago. Free cash flow was $123,777,000 against $52,794,000 for the same period a year ago. Free cash flow- proportionately combined basis was $122,681,000 against $64,920,000 for the same period a year ago. EBITDA excluding non-cash items was $155,244,000 against $68,792,000 for the same period a year ago. The company's consolidated revenue for the first quarter of 2015 increased by 44.3% compared with the first quarter in 2014 primarily as a result of the inclusion of results for International-Matex Tank Terminals following the acquisition of the second half of that business in July of 2014. The increase was partially offset by lower cost energy inputs in 2015 compared with 2014 resulting from the decline in the price of oil and oil products. The company notes that these decreases in revenue reflect the pass-through nature of energy-related costs.

Macquarie Infrastructure Company LLC, Special/Extraordinary Shareholders Meeting, May 15, 2015

Macquarie Infrastructure Company LLC, Special/Extraordinary Shareholders Meeting, May 15, 2015., at 10:00 US Eastern Standard Time. Location: 125 West 55 Street, 22 Floor. Agenda: To consider the proposal to approve a plan of conversion, including the conversion, certificate of incorporation and bylaws contemplated thereby (collectively, the plan of conversion and the transactions contemplated thereby, collectively, the conversion), dated as of April 10, 2015, providing for the conversion of MIC LLC from a limited liability company organized under the laws of the State of Delaware to Macquarie Infrastructure Corporation, a corporation organized under the laws of the State of Delaware (the conversion proposal ); to consider proposal to approve the authorization of 100,000,000 shares of preferred stock (the preferred stock proposal ); and to consider the proposal to adjourn the special meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the special meeting to approve the foregoing proposals (the adjournment proposal).

 

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MIC

Industry Average

Valuation MIC Industry Range
Price/Earnings 6.3x
Price/Sales 4.2x
Price/Book 2.1x
Price/Cash Flow 6.1x
TEV/Sales 3.0x
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