Macquarie's (MIC) Q4 Earnings & Revenues Miss Estimates
Zacks Investment Research | Feb 25, 2020 09:25PM ET
Macquarie Infrastructure Company (NYSE:MIC) reported income per share of 16 cents in fourth-quarter 2019. The bottom line compared favorably with loss of 1 cent per share reported in the year-ago quarter. Lower operating expenses were primarily responsible for the improvement.
On an adjusted basis, the company’s earnings came in at 90 cents per share, missing the Zacks Consensus Estimate of $1.03.
Macquarie generated revenues of $424 million, down 3% year over year. The decline was attributable to divesture of some of its businesses in 2018. Product revenues came in at $60 million, a decrease of 3%. Service revenues declined 3% to $364 million. The top line missed the Zacks Consensus Estimate of $442 million.
In 2019, Macquarie generated revenues of $1,727 million, down 2% on a year-over-year basis.
Macquarie Infrastructure Company Price, Consensus and EPS Surprise
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