Brookfield Infrastructure (TSE:BIPC) has released an update.
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Brookfield Infrastructure reports a robust second quarter in 2024, with a 10% increase in funds from operations to $608 million, bolstered by organic growth, acquisitions, and inflationary rate increases across its portfolio. Despite a net income drop to $8 million from $378 million, due to high borrowing costs and lack of prior capital recycling gains, the company continues to invest in growth projects and anticipates an active second half for mergers and acquisitions. Brookfield’s strategic initiatives include $4 billion in acquisitions and a $7.7 billion organic growth project backlog, aimed at expanding infrastructure and data center operations.
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