Brookfield Infrastructure: Q1 Earnings Snapshot

HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Brookfield Infrastructure Partners LP (BIP) on Wednesday reported a key measure of profitability in its first quarter.

The real estate investment trust, based in Hamilton, Bermuda, said it had funds from operations of $615 million, or 78 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $56 million, or 10 cents per share.

The operator of utility, transportation and energy assets, based in Hamilton, Bermuda, posted revenue of $5.19 billion in the period.

The company’s shares have dropped 15% since the beginning of the year. The stock has fallen 23% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BIP at https://www.zacks.com/ap/BIP

Source