Last $71.42 USD
Change Today -0.40 / -0.56%
Volume 81.6K
MIC On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 12:25 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

macquarie infrastructure co (MIC) Snapshot

Open
$72.53
Previous Close
$71.82
Day High
$72.53
Day Low
$71.25
52 Week High
07/22/14 - $73.47
52 Week Low
01/9/14 - $51.52
Market Cap
5.0B
Average Volume 10 Days
272.3K
EPS TTM
$1.27
Shares Outstanding
70.0M
EX-Date
08/7/14
P/E TM
56.3x
Dividend
$3.80
Dividend Yield
5.15%
Current Stock Chart for MACQUARIE INFRASTRUCTURE CO (MIC)

macquarie infrastructure co (MIC) Related Businessweek News

No Related Businessweek News Found

macquarie infrastructure co (MIC) Details

Macquarie Infrastructure Company LLC, through its subsidiaries, owns, operates, and invests in infrastructure businesses that provide services to businesses and individuals primarily in the United States. The company offers bulk liquid storage and handling services for petroleum products, various chemicals, renewable fuels, and vegetable and animal oils at 10 marine terminals in the United States and 2 in Canada; and environmental emergency responses, industrial services, and waste transportation and disposal services. It also processes and distributes synthetic natural gas to its utility customers in Oahu; and distributes liquefied petroleum gas to utility and non-utility customers in Oahu, Hawaii, Maui, Kauai, Molokai, and Lanai. In addition, the company offers fueling and fuel-related services, aircraft parking, and hangar services to owners/operators of jet aircraft primarily in the general aviation, commercial, military, freight, and government aviation sectors at 63 airports in the United States. Further, it has interests in five contracted solar photovoltaic power generation facilities located in the southwest United States; and produces and distributes chilled water through a closed loop of underground piping for use in the air conditioning systems of large commercial, retail, and residential buildings, as well as hot water to customers. Macquarie Infrastructure Company LLC was founded in 2004 and is headquartered in New York, New York.

2,000 Employees
Last Reported Date: 02/19/14
Founded in 2004

macquarie infrastructure co (MIC) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $3.1M
Chief Financial Officer and Principal Account...
Total Annual Compensation: $764.3K
Compensation as of Fiscal Year 2013.

macquarie infrastructure co (MIC) Key Developments

Macquarie Infrastructure Company LLC Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Free Cash Flow Guidance for 2014 and Provides Free Cash Flow Guidance for 2015

Macquarie Infrastructure Company LLC reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenue of $280,943,000 against $252,567,000 a year ago. The increases reflect a growth in the volume of products sold and higher energy costs, such as those for aviation fuel, which are passed through to customers of MIC's businesses, as well as increased contributions from the Company's CP&E segment. Operating income was $20,768,000 against operating loss of $2,862,000 a year ago. Net income before income taxes was $15,229,000 against net loss before income taxes of $2,046,000 a year ago. The improvement was primarily attributable to an increase in gross profit and a decrease in combined base management and performance fees incurred in 2014. Net income attributable to the company was $9,700,000 or $0.17 per basic and diluted share against net loss attributable to the company of $848,000 or $0.02 per basic and diluted share a year ago. Maintenance capital expenditures were $3,638,000 against $5,954,000 a year ago. Free cash flow was $59,467,000 against $45,051,000 a year ago. EBITDA excluding non-cash items was $77,333,000 against $59,029,000 a year ago. MIC generated proportionately combined free cash flow per share of $1.00 per share during the second quarter of 2014, and $2.15 per share in the year to date period. The company generated $0.92 per share and $2.17 per share, in the comparable quarter and year to date periods in 2013. For the six months, the company reported total revenue of $557,138,000 against $516,773,000 a year ago. Operating income was $48,393,000 against $5,486,000 a year ago. Net income before income taxes was $43,875,000 against $9,170,000 a year ago. Net income attributable to the company was $30,066,000 or $0.53 per basic and diluted share against $5,023,000 or $0.10 per basic and diluted share a year ago. The increase in MIC's consolidated operating income for the quarter and six months ended June 30, 2014 reflects, lower base and performance fees incurred, improved results at Atlantic Aviation and increased contributions from the CP&E segment and the non-utility portion of Hawaii Gas, partially offset by higher selling, general and administrative expenses. Net cash provided by operating activities was $131,335,000 against $77,097,000 a year ago. Purchases of property and equipment were $36,053,000 against $38,450,000 a year ago. EBITDA excluding non-cash items was $146,125,000 against $114,390,000 a year ago. Maintenance capital expenditures were $6,463,000 against $8,571,000 a year ago. Maintenance capital expenditures were lower in the 2014 periods primarily as a result of the absence of expenditures incurred in 2013 in connection with the restoration of the Bayonne facility following Hurricane Sandy partially offset by the higher level of tank cleaning and inspections. Free cash flow was $112,261,000 against $89,346,000 a year ago. The decline in proportionately combined free cash flow per share to $2.15 for the six months ended June 30, 2014 compared with $2.17 for the six months ended June 30, 2013 was attributed primarily to a $0.16 per share increase in cash taxes at IMTT; and a delay in the closing of an acquisition by MIC's Atlantic Aviation business. Free cash flow generated by IMTT increased 32.7% and 27.9% to $32.2 million and $75.1 million for the quarter and six months ended June 30, 2014, respectively. The increase reflects lower maintenance capital expenditures and improved operating results, partially offset by the increased tax provision. The company revised its guidance for free cash flow per share for the full year 2014 to $4.55 per share. Maintenance capital expenditures for the full-year are expected now to be $50 million to $55 million. The company provided initial guidance for free cash flow per share for 2015 of $5.10 per share. If achieved, the free cash flow per share figures would represent year on year growth in 2014 of approximately 11.2% and approximately 12.1% in 2015.

Macquarie Infrastructure Company LLC Announces Increase in Second Quarter Cash Dividend Payable on August 14, 2014

Macquarie Infrastructure Company LLC announced that it has entered into an agreement to acquire the 50% of International-Matex Tank Terminals, or IMTT, it does not currently own. The company noted that with the signing of the acquisition agreement, its board has authorized an increase in the company's quarterly cash dividend. The dividend payable for the second quarter of 2014 will be $0.95 per share, or $3.80 annualized, up 1.3% from the dividend paid for the first quarter of 2014. The increased dividend will be payable on August 14, 2014 to shareholders of record on August 11, 2014.

Macquarie Infrastructure Company LLC to Report Q2, 2014 Results on Jul 30, 2014

Macquarie Infrastructure Company LLC announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 30, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
MIC:US $71.39 USD -0.43

MIC Competitors

Market data is delayed at least 15 minutes.

Company Last Change
No competitor information is available for MIC.
View Industry Companies
 

Industry Analysis

MIC

Industry Average

Valuation MIC Industry Range
Price/Earnings 70.2x
Price/Sales 3.8x
Price/Book 4.1x
Price/Cash Flow 36.7x
TEV/Sales 3.5x
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact MACQUARIE INFRASTRUCTURE CO, please visit www.macquarie.com/mic. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.