Macquarie Infrastructure Holdings Llc (MIC) |
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Market Capitalization (Millions $) |
- |
Shares
Outstanding (Millions) |
90 |
Employees |
3,600 |
Revenues (TTM) (Millions $) |
480 |
Net Income (TTM) (Millions $) |
2,682 |
Cash Flow (TTM) (Millions $) |
-4,271 |
Capital Exp. (TTM) (Millions $) |
26 |
Macquarie Infrastructure Holdings Llc
We currently own and operate a diversified portfolio of businesses that provide
services to other businesses, government agencies and individuals primarily in
the U.S. The businesses we own and operate are:
• International-Matex Tank Terminals (IMTT): a bulk liquid terminals
business providing bulk liquid storage, handling and other services to third
parties at ten marine terminals in the U.S. and two in Canada;
• Atlantic Aviation: a provider of fuel, terminal, aircraft hangaring
and other services primarily to owners and operators of general aviation (GA)
jet aircraft at 69 airports throughout the U.S.;
• Contracted Power (CP): comprising a gas-fired facility and controlling
interests in wind and solar facilities in the U.S.; and,
• MIC Hawaii segment: comprising an energy company that processes and
distributes gas and provides related services (Hawaii Gas), and several smaller
businesses collectively engaged in efforts to reduce the cost and improve the
reliability and sustainability of energy, all based in Hawaii.
Our businesses, in general, are defined by a combination of the following characteristics:
• ownership of long-lived, high-value physical assets that are difficult
to replicate or substitute around;
• a platform for the deployment of growth capital;
• broadly consistent demand for their services;
• scalability, such that relatively small amounts of growth can generate
disproportionate increases in earnings before interest, taxes, depreciation
and amortization (EBITDA);
• the provision of basic, often essential services;
• generally predictable maintenance capital expenditure requirements;
and
• generally favorable competitive positions, largely due to high barriers
to entry, including:
• high initial development and construction costs;
• difficulty in obtaining suitable land on which to operate;
• long-term concessions, leases or customer contracts; and
• lack of immediate, cost-effective alternatives for the services provided.
The different businesses that comprise our Company exhibit these above characteristics
to different degrees at different times. For example, macro-economically correlated
businesses like Atlantic Aviation may exhibit more volatility during periods
of economic downturn than businesses with substantially contracted revenue streams.
While not every business that we own will meet all of the general criteria described
above, we seek to own a diversified portfolio of businesses that possesses a
balance of these characteristics.
Bulk liquid terminals provide an important link in the supply chain for a broad
range of liquid commodities (see below). In addition to renting storage tanks,
dock access and intra-modal transportation access, bulk liquid terminals generate
revenue by offering ancillary services including product transfer (throughput),
heating, blending and packaging. Pricing for storage and other services typically
reflects local supply and demand as well as the specific attributes of each
terminal including access to deepwater berths and connections to land-based
infrastructure such as roads, pipelines and rail.
Both domestic and international factors influence demand for bulk liquid terminals
in the U.S. Demand for storage rises and falls according to local and regional
consumption. In addition, import and export activity accounts for a material
portion of the business. Shippers require storage for the staging, aggregation
and/or distribution of products before and after shipment. The extent of import/export
activity depends on macroeconomic trends such as currency fluctuations as well
as industry-specific conditions, such as supply and demand imbalances in different
geographic regions. Demand for storage is also driven by fluctuations in the
current and perceived future price and demand for the product being stored and
the resulting temporal price arbitrage.
Potential entrants into the bulk liquid terminals business face several barriers.
Strict environmental regulations, availability of waterfront land, local community
resistance and initial investment costs may limit the construction of new bulk
liquid terminal facilities. These barriers are typically higher around waterways
near major urban centers. As a consequence, new tanks are generally built where
existing docks, pipelines and other infrastructure can support them, resulting
in higher returns on invested capital compared with development of new facilities.
However, restrictions on land use, difficulties in securing environmental permits,
and the potential for operational bottlenecks due to constraints on related
infrastructure may limit the ability of existing terminals to expand the storage
capacity of their facilities.
Company Address: 125 West 55th Street New York 10019 NY
Company Phone Number: 231-1000 Stock Exchange / Ticker: NYSE MIC
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Customers Net Income fell by |
MIC's Customers Net Profit Margin fell to |
-21.34 % |
5.83 %
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Stock Performances by Major Competitors |
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Global Partners Lp
Global Partners Lp, a company trading on the NYSE, recently posted its financial results for the fiscal second quarter ending June 30, 2023. The report reveals a series of key performance metrics, including a decline in revenue, contraction of profitability, and a significant increase in net earnings. This article aims to interpret these financial results and assess the potential impact on Global Partners Lp going forward. 1. Revenue Decline and Profitability Slump: Global Partners Lp experienced a contraction in revenue of -28.025% during the fiscal second quarter of 2023. This decline resulted in a slump in profitability by -77.32% compared to the same period a year ago. The company posted revenues of $3.83 billion, a decrease from $5.32 billion in the previous year. This significant decrease shows a challenging environment for Global Partners Lp.
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World Kinect Corporation
World Kinect Corporation (WKC) recently released its financial results for the time-frame ending June 30, 2023, and the numbers are both positive and concerning. While the company reported a 23.08% improvement in its stated income, which amounted to $0.48 per share, revenue saw a significant decline of -35.868%, reaching $10.98 billion. Comparing these figures to the prior reporting period, we can see that earnings grew by 33.33% from $0.36 per share, while revenue deteriorated by -12.025% from $12.48 billion. This indicates that the company has been able to increase its profitability but is struggling to maintain its revenue streams.
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Ftai Infrastructure Inc
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Martin Midstream Partners L P
Martin Midstream Partners LP (MMLP) has faced a significant decline in revenue and earnings for the April to June 2023 period, signaling bearish sentiment for the company. The revenue contraction of -26.727% has led to a drop in earnings by -82.35%, with the company posting earnings of $195.64 million compared to $267.00 million in the previous year. This decline is even more pronounced when looking at the earnings per share (EPS) figures. EPS dropped from $0.17 per share in the prior year to a meager $0.03 per share this year. This drastic decrease in EPS showcases the alarming decline in profitability for the company. While there was a slight improvement in the net profit per share compared to the previous quarter, turning positive from $-0.13 per share, it is overshadowed by the significant drop in net profits. The net profits of $1.077 million in the second quarter of 2023 is a decrease of -83.64% from $6.585 million in the corresponding period of the previous year.
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Adams Resources And Energy Inc
Adams Resources and Energy Inc (AE) has reported a significant expansion in its deficit for the fiscal year ending March 31, 2023. The company's deficit has expanded to $-0.79 per share compared to $1.39 per share a year ago, indicating a significant decline in the company's profitability and financial stability. The company's EPS has improved from $-2.19 per share from the previous reporting period, but this improvement does not seem to have a significant impact on the company's overall financial performance. The decline in revenue is also a cause of concern for investors, as it has receded by -16.026% to $650.16 million from $774.25 million in the corresponding reporting period a year ago. The decline has also deteriorated sequentially by -13.048% from $747.72 million.
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Per Share |
Current |
Earnings (TTM) |
30.5 $ |
Revenues (TTM) |
5.34 $
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Cash Flow (TTM) |
- |
Cash |
0.43 $
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Book Value |
6.93 $
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Dividend (TTM) |
37.39 $ |
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Per Share |
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Earnings (TTM) |
30.5 $
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Revenues (TTM) |
5.34 $ |
Cash Flow (TTM) |
- |
Cash |
0.43 $
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Book Value |
6.93 $ |
Dividend (TTM) |
37.39 $ |
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Company Estimates |
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• Revenue Outlook
Macquarie Infrastructure Holdings Llc does not provide revenue guidance.
• Earnings Outlook
Macquarie Infrastructure Holdings Llc does not provide earnings estimates.
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