Brookfield Infrastructure Q3 FFO Up, Net Profit Slips

(RTTNews) - Brookfield Infrastructure (BIP, BIP_UN.TO) announced a rise in third-quarter funds from operations or FFO to $167 million, or $0.80 per unit, from last year's $113 million, or $0.58 per unit, in the 2012 period. This 48% increase in FFO was driven mainly by organic growth in most of its businesses, in addition to incremental earnings from capital deployed to grow its transport and utilities businesses.

On the other hand, quarterly net income of $33 million, or $0.12 per unit, was significantly lower than $68 million, or $0.33 per unit profit reported a year back. On average, 2 analysts polled by Thomson Reuters expected earnings per share of $0.26 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the recent period grew year-over-year to $431 million, from $374 million, while 2 analysts estimated revenues of $584.89 million.