TORONTO — Brookfield Infrastructure Partners LP reported strong second quarter results as funds from operations (FFO) jumped 30 per cent compared with the same quarter last year.
Brookfield posted net income of US$176 million, or 13 cents per unit, for the three-month period ended June 30, compared to US$352 million, or 41 cents per unit, the prior year.
It says FFO for the second quarter was the highest in its partnership’s history totalling US$513 million.
Recent acquisitions, organic growth and gains on its foreign currency hedging program helped support the latest results, Brookfield says.
Brookfield says the transport segment continues to experience elevated demand as global supply chains remain constrained.
Meanwhile, its midstream segment generated US$170 million of FFO, nearly triple the prior year results.
This report by The Canadian Press was first published Aug.3, 2022.
Companies in this story: (TSX:BIP.UN)
The Canadian Press
