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Brookfield Infrastructure Partners swings to loss in Q3

Brookfield Infrastructure Partners LP said its third-quarter normalized net income amounted to a loss of 14 cents per share, compared with 18 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $33.9 million, compared with income of $41.5 million in the prior-year period.

The normalized profit margin declined to negative 6.7% from 8.5% in the year-earlier period.

Total revenue fell year over year to $468.0 million from $491.0 million, and total operating expenses fell on an annual basis to $326.0 million from $341.0 million.

Reported net income increased 65.2% on an annual basis to $76.0 million, or 31 cents per share, from $46.0 million, or 20 cents per share.