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Brookfield Infrastructure Partners profit misses consensus by 42.8% in Q1

Brookfield Infrastructure Partners LP said its first-quarter normalized net income came to 16 cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

EPS climbed 433.9% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $35.4 million, a gain of 434.0% from $6.6 million in the prior-year period.

The normalized profit margin climbed to 7.6% from 1.4% in the year-earlier period.

Total revenue fell on an annual basis to $466.0 million from $480.0 million, and total operating expenses totaled $332.0 million, compared with $330.0 million in the prior-year period.

Reported net income grew 425.0% from the prior-year period to $84.0 million, or 37 cents per share, from $16.0 million, or 7 cents per share.