Stock Track | Brookfield Infrastructure Corp Plummets 5.23% Intraday After Reporting Q1 Loss on Unrealized Hedge Losses
Stock Track
Apr 29
Brookfield Infrastructure Corp's stock fell sharply by 5.23% during intraday trading on Wednesday.
The decline followed the company's release of first-quarter results, which showed a net loss of $61 million. This loss was primarily attributed to unrealized hedge losses in the midstream segment, a result of elevated commodity prices during the period.
While the company reported a 10% year-over-year increase in funds from operations and a 17% rise in revenue, the swing to a net loss from a profit a year earlier appeared to weigh on investor sentiment. Management noted that these hedge-related losses are expected to reverse as the contracts settle later in the year.
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