Macquarie Infrastructure (MIC) Reports Q1 EPS of $0.15, Revenues Beat

Macquarie Infrastructure (NYSE: MIC) reported Q1 EPS of $0.15, versus ($0.08) reported last year. Revenue for the quarter came in at $264.19 million versus the consensus estimate of $241 million.

"We are pleased to report improved overall results this quarter. The ongoing recovery in economic activity lifted general aviation flight activity in March above the corresponding 2019 levels in markets served by Atlantic Aviation," said Christopher Frost, chief executive officer of MIC. "While visitor arrivals in Hawaii have yet to reach 2019 numbers, they are ahead of our expectations and contributing to a recovery in the performance of our MIC Hawaii businesses."

"On the strength of our financial performance in the first quarter, we are raising our earnings estimates for 2021. We remain confident in our ability to execute on our strategic priorities heading into the second half of the year," added Frost.

For earnings history and earnings-related data on Macquarie Infrastructure (MIC) click here.

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