Brookfield Infrastructure Clocks 27% Top-Line Growth In Q1; Plans Stock Split

Brookfield Infrastructure Partners L.P BIP BIP reported a first-quarter FFO per unit of $0.96, an improvement from $0.93 a year ago.
Brookfield Infrastructure reported a net income of $70 million for the quarter, compared to $190 million in the prior year.
FFO for the quarter totaled $493 million, increasing 14% from the prior year.
FFO by segments: Utilities $167 million (+8% Y/Y), Transport $185 million (+14% Y/Y), Midstream $196 million (+34.3% Y/Y) and Data $58 million.
Brookfield Infrastructure Partners' revenue for the quarter was $3.41 billion, an increase of 27.1% Y/Y, beating the consensus of $2.92 billion.
Cash from operating activities totaled $735 million, compared to $726 million a year ago.
Dividend: BIP declared a quarterly distribution of $0.54 per unit, payable on June 30, 2022, to unitholders of record on May 31, 2022. The distribution will be payable on the pre-split BIP units.
BIP has approved a three-for-two unit split of the BIP units payable on June 10, 2022, to unitholders of record at the close of business on June 6, 2022.
Price Action: BIP.UN shares are trading lower by 0.21% at C$77.85 on TSX, and BIP is lower by 0.025% at $60.79 on the last check Wednesday.

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