Macquarie Infrastructure Corporation (NYSE:MIC) is reporting second quarter financial results on Tuesday 4th August 2020, before market open.
According to analysts surveyed by Thomson Reuters, MIC is expected to report 2Q20 loss of $ 0.04 per share from revenue of $ 295.70 million.
For the full year, analysts anticipate top line of $ 1393.65 million, while looking forward to income of $ 0.56 per share bottom line.
Previous Quarter Performance
Macquarie Infrastructure Corporation came out with income for the first quarter of $ 0.13 per share, from the revenue of $ 416.00 million. The quarterly earnings lowered 83.54 percent compared with the same quarter last year. Wall street analysts are predicting, MIC to report 1Q20 income of $ 0.31 per share from revenue of $ 457.60 million. The bottom line results missed street analysts by $ 0.18 or 58.06 percent, at the same time, top line results fell short of analysts by $ 41.6 million or 9.09 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of MIC was $ 30.03, representing a 140.24 % increase from the 52 week low of $ 12.50 and a 34.62 % decrease over the 52 week high of $ 45.93.
The company has a market capital of $ 2.61 billion and is part of the Industrials sector and Airports & Air Services industry.
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Recent Analyst recommendations
- On 10th June 2020, upgraded by SunTrust Robinson Humphrey to Buy from Hold rating.
- On 5th June 2020, downgraded by Wells Fargo & Co to Equal-Weight from Overweight rating.
Conference Call
Macquarie Infrastructure Corporation will be hosting a conference call at 8:00 AM eastern time on 4th August 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.macquarie.com/mgl/com/mic
Macquarie Infrastructure Corporation owns and operates a portfolio of businesses that provide services to other businesses, government agencies, and individuals. It operates through: International-Matex Tank Terminals (IMTT), Atlantic Aviation, and MIC Hawaii segments. The IMTT segment offers bulk liquid storage, handling, and other services for petroleum products, specialty chemicals, renewable fuels, and vegetable and tropical oils through a network of 19 terminals, including 17 in the United States and 2 in Canada.
