It has been prepared solely for informational purposes; it is not a solicitation of any offer to buy or sell any security or instrument. MIC Hawaii generated EBITDA excluding non-cash items of $7 million in the second quarter of 2020, down from $14 million in the prior comparable period. Macquarie Infrastructure Corporation Reports Second Quarter 2020 Financial and Operational Results (Including Financial Tables), Second quarter results reflect the impact of COVID-related travel and other restrictions on Atlantic Aviation and MIC Hawaii, offset by improved performance of International-Matex Tank Terminals, General aviation flight activity increases from April lows through quarter end driving better than expected cash contribution from Atlantic Aviation, Company remains confident in capital and liquidity position, ability to manage costs. mic@macquarie.com, Lee Lubarsky Further information can be found on this website or by contacting us. +1 (212) 231 2638 +1 (212) 231 1825 The Board of Directors of Macquarie Global Infrastructure Total Return Fund Inc. (NYSE:MGU) (the “Fund”) declared on Dec. 2, 2020, a regular distribution for the month ending Nov. 30, 2020 of $0.075 per share. Macquarie Infrastructure Corporation (NYSE: MIC) today announced its second quarter 2020 operational and financial results. Macquarie Infrastructure Corporation (MIC) (NYSE: MIC) has scheduled a conference call and webcast for analysts and investors at 8:00 a.m. Eastern Time on Monday, November 9, 2020 during which management will discuss the Company’s financial results for the third quarter of 2020. Macquarie Infrastructure Corp ... we have published a press release summarizing the results and filed the financial report on Form 10-Q with the … Press Release: MIC Reports 2Q20 Financial and Operational Results. The decrease reflects an approximately 40% decline in gas consumption led by hotels and restaurants. In this article we are going to estimate the intrinsic value of Macquarie Infrastructure Corporation by taking the expected future cash flows and discounting them to … The results reflect the ongoing impact of COVID-19 related travel restrictions, quarantines and event cancellations on the Company’s Atlantic Aviation and MIC Hawaii segments, partially offset by improved performance in its IMTT segment. MIC is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and its obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MIC also reaffirmed its guidance for the generation of Adjusted Free Cash Flow in a range of $390 to $435 million in 2019. Jay Davis An online archive of the webcast will be available on the Company’s website for one year following the call. MIC reported a net loss from continuing operations of $8 million for the quarter, compared with net income of $6 million in the second quarter of 2019. The following information was filed by Macquarie Infrastructure Corp (MIC) on Tuesday, February 25, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. Including the dividend for the third quarter, MIC will have distributed approximately 79% of its Adjusted Free Cash Flow from continuing operations generated year to date. Macquarie Infrastructure Corporation (MIC) owns, operates and invests in a portfolio of infrastructure and infrastructure-like businesses in the U.S. MIC owns, operates and invests in a portfolio of infrastructure and infrastructure-like businesses in the U.S. Macquarie Infrastructure Corporation (NYSE: MIC) today announced its third quarter 2019 financial results including the generation of net income from continuing operations of $15 million compared with net income of $2 million in the third quarter of 2018 (the prior comparable period). NEW YORK, May 5, 2020 /PRNewswire/ -- Macquarie Infrastructure Corporation (NYSE: MIC) today announced its first quarter 2020 operational and financial results. Head of Investor Relations  It has been prepared solely for informational purposes; it is not a solicitation of any offer to buy or sell any security or instrument. MIC’s Corporate and Other segment includes costs of managing the public company, interest expense associated with holding company level debt facilities and expenses related to its pursuit of strategic alternatives. Shares of Macquarie Infrastructure (NYSE:MIC) were flat in pre-market trading after the company reported Q3 results. Replay: For interested individuals unable to participate in the live conference call, a replay will be available after 2:00 p.m. on October 31, 2019 through midnight on November 6, 2019, at +1(404) 537-3406 or +1(855) 859-2056, Passcode: 9578278. Macquarie Group Limited and its related corporations are not otherwise currently authorized to accept deposits or conduct banking business in any other jurisdiction. It is proprietary and all rights are reserved. “The partial recovery in general aviation flight activity in the quarter resulted in an increased contribution from Atlantic Aviation relative to the end of the first quarter. During the second quarter, the Company continued to actively pursue these alternatives although travel and other restrictions on interactions imposed by COVID-19 slowed the process, as expected. IMTT generated EBITDA excluding non-cash items of $68 million in the second quarter of 2020, up from $64 million in the prior comparable period. To facilitate the pursuit of strategic alternatives, MIC also announced that it has entered into a disposition agreement with Macquarie Infrastructure Management (USA) Inc. (“MIMUSA”), the external manager of the Company. About MIC. Macquarie Infrastructure Corporation (NYSE:MIC) Q3 2020 Results Earnings Conference Call November 9, 2020 7:50 AM ET. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Macquarie Group's interim and annual results. Further information can be found on this website or by contacting us. The increase primarily reflects the impact of a write-down in the prior comparable period of a business that was sold in the fourth quarter of 2018. The increase was partially offset by the repayment of a $350 million tranche of holding company Convertible Senior Notes in July 2019 and higher interest income in the prior comparable period. The company is acting to preserve cash so long as the coronavirus pandemickeeps the travel industry on hold. The decrease primarily reflects the reduced EBITDA excluding non-cash items generated by each of Atlantic Aviation and MIC Hawaii and declines in the amounts of products purchased and lower wholesale product prices, partially offset by declines in the amount of product sold and lower retail product prices. This site may contain links to other websites operated or owned by entities that are not controlled or owned by Macquarie Group (Macquarie). ge in timing versus 2019 as spending for the full year is expected to be broadly consistent with 2019. MIC expects to deploy between $200 and $220 million in support of growth projects across its businesses in 2019. Macquarie Infrastructure Corporation Reports Third Quarter 2019 Financial and Operational Results (Including Financial Tables), Results in line with management's guidance, In a separate press release today, MIC announced its intention to pursue strategic alternatives, 2019 guidance for EBITDA, Free Cash Flow and dividends reaffirmed, Quarterly cash dividend of $1.00 per share authorized, Storage utilization at IMTT increases sequentially to an average of 85.2% from 82.9%; substantially all heavy and residual oil storage on the Lower Mississippi River now leased, Flight activity increases 1% at airports at which Atlantic Aviation operates, Sales of remaining renewable power facilities completed, Leverage stable at 3.6x net debt / EBITDA, as forecast, Growth capital deployment expected to top $200 million in 2019. The decline reflects primarily expected higher labor costs and property taxes at IMTT. This information is a general description of Macquarie Infrastructure Corporation (MIC). MIC Level Strategy Utilization at IMTT continued to recover and, although a portion of the recovery was offset by an expected increase in operating costs, the trajectory for the business remains positive over the medium term. The Company completed the sale of its portfolio of wind and solar power businesses in the third quarter, generating approximately $210 million net of taxes and transaction fees. About MIC. The Company expects its leverage ratio to increase through the remainder of the year based on the impact of COVID-19 on its financial performance and its use of a portion of its current cash balance to fund growth projects. On November 8, 2020, MIC entered into an agreement to sell its bulk liquid storage and handling … It is based on information generally available to the public and does not contain any material, nonpublic information. MIC’s Corporate and Other segment recorded EBITDA of ($5) million for the quarter versus ($6) million in the prior comparable period. Expenses (cost of services/product sales and selling, general and administrative combined) incurred in the quarter declined by 2% primarily as a result of the absence of costs related to businesses sold during the past year and a lower average wholesale price of jet fuel. The use of cash is expected to be partially offset by incremental EBITDA generated by the projects completed during the year. IMTT generated Free Cash Flow of $44 million in the quarter, down from $45 million in the prior comparable period, reflecting the increase in EBITDA excluding non-cash items offset by higher maintenance capital expenditures. You are advised to make your own enquiries in relation to third parties described or linked on this site. The Company expects leverage to be approximately 4.1x at the end of 2019 as it funds growth projects and pays capital gains taxes resulting from the sale of the renewables businesses. MIC generated cash from operating activities of $73 million in the second quarter, down from $108 million in the prior comparable period. "I am pleased with the strength of MIC’s balance sheet, which reflects the progress we have made to complete the sales of smaller and non-core businesses in our portfolio. Jay Davis - … “The improved results at IMTT reflect an increase in demand for storage, particularly for petroleum products, together with a consistent level of uncontracted, ancillary services in the quarter,” said Frost. MIC or Macquarie has no control over the information on these sites or the products or services on them, and therefore makes no representations regarding the accuracy or suitability of the information, services, or products described on them. MIC intends to pay a dividend of $1.00 per share, per quarter, in 2020 as well. How: To listen to the conference call dial +1(650) 521-5252 or +1(877) 852-2928 at least ten minutes prior to the scheduled start time. Macquarie Infrastructure Corp ... we have published a press release summarizing the results and filed a financial report on Form 10-Q with the … Form 10-Q. By linking to sites operated by third parties, MIC or Macquarie is not authorizing the reproduction of any material on such sites, as such material may be the subject of intellectual property rights. “Our current cash balances, excluding drawings on our revolving credit facility, together with the cash we believe our businesses will generate over the remainder of the year, are expected to fund our ongoing operations and allow us to meet all of our financial obligations,” noted Frost. Atlantic Aviation generated EBITDA excluding non-cash items of $17 million in the second quarter of 2020, down 73% from $62 million in the prior comparable period. The improved operating results reflect higher average capacity utilization of 94.6% compared with 82.9% in the second quarter of 2019. Inclusion of a link to a third party site should not be construed as that party's endorsement of this site. It contains forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. MIC reaffirmed its guidance for the payment of dividend of $1.00 per share in the fourth quarter of 2019. Any reproduction, in whole or in part, without the prior written consent of MIC is prohibited. On October 31, 2019, MIC announced that it was pursuing strategic alternatives including the sale of the Company or one or more of its operating businesses as a means of unlocking value. ... 2Q20 Results downloads. The payment of a dividend is predicated on, 1) the composition of the MIC portfolio of businesses remaining unchanged, 2) the businesses and operations performing as expected and at levels that support the dividend, and 3) general economic conditions and stability in the broader market. Macquarie Bank Limited maintains Representative Offices in the states of Illinois, New York and Texas, but is not authorized to conduct business in the US. Prior performance is not a reliable indicator of future results. Additional risks of which we are not currently aware could also cause MIC's actual results to differ. These links have been provided solely for you to obtain further information about other relevant products and entities in the market. The dividend will be paid November 14, 2019 to shareholders of record on November 11, 2019. The forward-looking events discussed may not occur. Macquarie Infrastructure has generated $4.70 earnings per share over the last year and currently has a price-to-earnings ratio of 29.4. mic@macquarie.com, Lee Lubarsky MIC is a Delaware corporation formed on May 21, 2015. MIC’s consolidated revenue declined to $405 million from $421 million in the prior comparable period reflecting primarily the absence of revenue from smaller businesses sold during the past year partially offset by an increase in the volume of fuel sold and services provided by Atlantic Aviation as well as an increase in storage utilization at International-Matex Tank Terminals (IMTT). The decrease reflects the reduction in Adjusted EBITDA excluding non-cash items and higher maintenance capital expenditures, partially offset by a current tax benefit. The MIC board of directors authorized a cash dividend of $1.00 per share, or $4.00 annualized, for the third quarter consistent with guidance provided in February 2019. Macquarie Infrastructure Company Trust was succeeded by Macquarie Infrastructure Company LLC effective January 1, 2007. About MIC. Corporate Communications Adjusted EBITDA excluding non-cash items from continuing operations totaled $87 million in the second quarter, down from $134 million in the prior comparable period. It is based on information generally available to the public and does not contain any material, nonpublic information. Inclusion of a link to a third party site should not be construed as that party's endorsement of this site. Storage revenue was flat as the benefit of the increase in utilization was offset by lower average storage rates resulting from the renewal of certain legacy contracts at lower rates. This presentation is based on information generally available to the public and does not contain any material, non - public information. Macquarie Infrastructure Corporation (NYSE:MIC) Q3 2020 Results Earnings Conference Call November 9, 2020 8:00 AM ET. The following discussion of the financial condition and results of operations of Macquarie Infrastructure Corporation (MIC) should be read in conjunction with the consolidated condensed financial statements and the notes to those statements included elsewhere herein. "Atlantic Aviation recorded an increase in both the volume of fuel sold and hangar rental services provided to our customers, driven in part by an increase in general aviation flight activity.". NEW YORK, Aug. 4, 2020 /PRNewswire/ -- Macquarie Infrastructure Corporation (NYSE: MIC) today announced its second quarter 2020 operational and financial results. Menu. Holding company level cash interest expense increased to $6 million for the quarter from $4 million in the prior comparable period due to the Company having drawn $599 million on its revolving credit facility in March. Except as otherwise specified, all references in this Form 10-K to “MIC”, “we”, “us”, and “our” refer to Macquarie Infrastructure Corporation and its subsidiaries. Macquarie Infrastructure has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, November 5th, 2020 based off prior year’s report dates. NEW YORK, NY / ACCESSWIRE / November 9, 2020 / Macquarie Infrastructure Corp. (NYSE:MIC) will be discussing their earnings results in their … General aviation flight activity at airports on which Atlantic Aviation operates declined by an average of 53% during the period. A lifting of lockdown measures in additional markets and a recovery in business oriented travel could increase flight activity, although the absence of most event-related and international travel together with increases in COVID-19 infections in certain states, could limit further recovery in 2020,” said Frost.Atlantic Aviation generated EBITDA excluding non-cash items of $66 million in the first quarter of 2020, down 16% versus the prior comparable period. MIC’s Chief Executive Officer, Christopher Frost, said: “MIC’s results for the third quarter of 2019 were consistent with our guidance and commentary previously provided to the market. By linking to sites operated by third parties, MIC or Macquarie is not authorizing the reproduction of any material on such sites, as such material may be the subject of intellectual property rights. Macquarie Infrastructure Corporation Common Stock (MIC) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. Adjusted Free Cash Flow from continuing operations totaled $82 million, down 17% versus the prior comparable period reflecting the decrease in Adjusted EBITDA together with higher maintenance capital expenditures, interest expense and cash taxes. MIC expressly disclaims the adoption or endorsement of any content on any such website. Shares of Macquarie Infrastructure Corporation (NYSE:MIC) are down 25.8% at 12:28 p.m. on April 3, following the after-hours announcement yesterday that the company was suspending its dividend due to severely reduced demand for aviation fuel and energy services at two of its three main businesses. Macquarie Infrastructure Corporation (MIC) owns, operates and invests in a portfolio of infrastructure and infrastructure-like businesses in the U.S. MIC owns, operates and invests in a portfolio of infrastructure and infrastructure-like businesses in the U.S. Macquarie Infrastructure Corporation (NYSE: MIC) today announced its second quarter 2020 operational and financial results. Flight activity across the Atlantic Aviation network was down 23% in June 2020 compared with June 2019 reflecting the substantial sequential recovery during the quarter. +1 (212) 231 2638 IMTT is an industry leader in bulk liquids terminalling. Supplemental Materials: MIC will prepare slides in support of its conference call. Macquarie Infrastructure Corporation (MIC) owns, operates and invests in a portfolio of infrastructure and infrastructure-like businesses in the U.S. The results reflect the ongoing impact of COVID-19 related travel restrictions, quarantines and event cancellations on the Company’s Atlantic Aviation and MIC Hawaii segments, partially offset by improved performance in its IMTT segment. MIC's actual results, performance, prospects or opportunities could differ materially from those expressed in or implied by the forward-looking statements. Any reproduction, in whole or in part, without the prior written consent of MIC is prohibited. MIC’s reported Adjusted EBITDA excluding non-cash items from continuing operations of $131 million was down 7% versus the prior comparable period. The results reflect the ongoing impact of COVID-19 related travel restrictions, quarantines and event cancellations on the Company's Atlantic Aviation and MIC Hawaii segments, partially offset by improved performance in its IMTT … In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements. Prior performance is not a reliable indicator of future results. Macquarie Infrastructure Corp ... we have published a press release summarizing the results and filed the financial report on Form 10-K with the … Earnings … Excluding the impact of the write-down, the MIC Hawaii result was flat year on year. These gains were partially offset by anticipated increases in labor costs and property taxes at IMTT and unfavorable movements (non-cash) in the value of commodity hedges. 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