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NEW YORK - Brookfield Infrastructure Partners (TSX:BIP_u) L.P. (NYSE:BIP) reported lower first quarter earnings on Wednesday.
The company’s shares edged down -0.14% in premarket trading following the release.
The infrastructure company posted earnings per share of $0.04 for Q1 2025, down from $0.10 in the same period last year. Revenue rose to $5.39 billion from $5.19 billion YoY.
Funds from operations (FFO), a key metric for the company, increased 5% to $646 million compared to $615 million in Q1 2024.
"We delivered solid financial results during the quarter, underpinned by our strong balance sheet and growing cash flow that is highly contracted and indexed to inflation," said CEO Sam Pollock.
The company highlighted strong organic growth within its businesses and gains from asset sales as positives in the quarter. However, this was partially offset by higher borrowing costs and mark-to-market losses on corporate hedging activities.
By segment, utilities FFO was flat at $192 million, transport FFO declined to $288 million from $302 million, midstream held steady at $169 million, while data saw a significant jump to $102 million from $68 million last year.
Brookfield Infrastructure (NYSE:BIPC) maintained its quarterly distribution of $0.43 per unit, representing a 6% increase from the prior year.
The company also announced it has secured $1.4 billion in asset sale proceeds so far this year, including agreements to exit its Australian container terminal operation and sell stakes in other assets.
Looking ahead, management expressed optimism about investment opportunities, particularly if market uncertainty persists. The company recently secured a $9 billion acquisition of Colonial Pipeline, the largest refined products pipeline system in the U.S.
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