Macquarie Infrastructure (MIC) Misses Q4 EPS by 34c

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Go back to Macquarie Infrastructure (MIC) Misses Q4 EPS by 34c

MIC Reports Fourth Quarter And Full Year 2018 Results

February 20, 2019 5:15 PM EST

NEW YORK, Feb. 20, 2019 /PRNewswire/ -- Macquarie Infrastructure Corporation (NYSE: MIC) reported financial results for 2018 that were in line with the Company's guidance.

Net income from continuing operations declined to $64.6 million in 2018 from $433.8 million in 2017 primarily as a result of the absence of a $316.4 million tax benefit related to the enactment of the Tax Cuts and Jobs Act in December 2017.

Cash generated by continuing operating activities increased $9.1 million to $473.2 million in 2018 versus 2017 as a result of favorable movements in working capital including improved collection of higher balances.

MIC's continuing operations consist of... More