Brookfield Infrastructure (BIP) To Post Q3 Earnings: What's Up?
Zacks Investment Research | Nov 04, 2019 09:56PM ET
Brookfield Infrastructure Partners L.P. (NYSE:BIP) is set to release third-quarter 2019 results on Nov 7, before the opening bell. In the last reported quarter, the company delivered a positive earnings surprise of 2.41%.
Let’s see how things are placed ahead of the upcoming quarterly announcement.
Factors to Consider
Brookfield Infrastructure is consistently expanding through acquisition of higher growth businesses. Its acquisitions since 2018 are likely to have contributed to the company’s third-quarter performance as well. Also, the company signed several agreements that are expected to benefit the company post completion.
During the second quarter, Brookfield Infrastructure and its institutional partners acquired Vodafone’s New Zealand business for $2.3 billion. This enabled Brookfield consortium to add 2.5 million customers to its network as well as strengthen presence in broadband and wireless services industry. The buyout is likely to have made a positive impact on third-quarter’s performance.
In addition, third-quarter earnings are expected to have benefited from higher natural gas volumes in the United States owing to consistent increase in demand and production.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 81 cents per share, which suggests a surge of 910% from the prior-year quarter’s reported number.
Earnings Whispers
Our proven model doesn’t conclusively predict an earnings beat for Brookfield Infrastructure this time around. The combination of a positive Zacks Investment Research
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