NYSE$BIP
Brookfield Infrastructure Partners LP · Q1 2026 earnings
Q1 2026 earnings · · Before market open · Investor relations
Briefing
Brookfield Infrastructure Q1 revenue rises 17% to $6.3B but limited partner net loss reflects mark-to-market hits
Brookfield Infrastructure Partners reported Q1 2026 interim results on May 8, with consolidated revenue of $6.30 billion, up 17% from $5.39 billion a year ago, driven by recent acquisitions and organic growth across utilities, transport, midstream and data. Net income was $148 million versus $526 million in Q1 2025; limited partners reported a net loss of $86 million, or $0.20 per unit, compared with income of $26 million ($0.04 per unit) last year. FFO per unit rose to $0.90 from $0.82, while segment FFO totaled $709 million. Current-year results benefited from portfolio growth and a gain on the partial sale of a Brazilian electricity transmission concession, offset by mark-to-market hedge losses in midstream and higher interest expense. Cash and equivalents were $2.46 billion at quarter end.
- Consolidated revenue grew 17% YoY to $6.30B; attributable segment revenues were $2.22B across utilities ($742M), transport ($629M), midstream ($495M) and data ($351M).
- Net income was $148M versus $526M prior year; limited partners lost $86M ($0.20/unit) while FFO per unit improved to $0.90 from $0.82.
- Segment FFO totaled $709M with transport leading at $283M, utilities $201M, midstream $190M and data $149M.
- Completed partial dispositions including a Brazilian transmission concession sale (~$150M proceeds, ~$10M gain) and reduced North American gas storage stake.
- Approximately 90% of Adjusted EBITDA is supported by regulated or contracted revenues; partnership targets 12–15%+ long-term total returns.
Headline financials
Revenue & EPS history
Brookfield Infrastructure · Revenue · Quarterly
$6.3B
Revenue by segment
Brookfield Infrastructure · $2.22B total across 4 segments · Q1 2026
- Utilities FFO$742M—33.5%
- Transport FFO$629M—28.4%
- Midstream FFO$495M—22.3%
- Data FFO$351M—15.8%
Forward guidance
Brookfield Infrastructure targets 12–15%+ long-term total returns from in-place cash flows plus expansions and acquisitions, with distributions underpinned by stable regulated and contracted cash flows. Management uses FFO per unit as a proxy for future distribution growth.
Tailwinds
- Organic growth and recent acquisitions lifted revenue across all four operating segments.
- Data segment revenue grew 43% YoY on attributable basis; portfolio remains diversified by sector and geography.
- Active capital recycling through partial asset sales to fund higher-return opportunities.
Headwinds
- Limited partner net loss of $0.20/unit driven by mark-to-market hedge losses and depreciation.
- Interest expense rose to $1.05B from $899M; net debt-to-capitalization was 73% at quarter end.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
+1.3%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+1.4%
Avg return
30 days after
66%
43 / 65 earnings
Positive
+20.1%
Q3 2023
Best reaction
-4.1%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | +3.6% | — | |
| Q4 2025 | +2.6% | -3.8% | -4.4% | |
| Q3 2025 | +2.7% | +4.2% | +3.7% | |
| Q2 2025 | +2.7% | -1.9% | -1.3% | |
| Q1 2025 | +1.9% | +0.5% | +4.9% | |
| Q4 2024 | +4.5% | +1.9% | -1.3% | |
| Q3 2024 | -0.8% | +1.0% | -0.2% | |
| Q2 2024 | -3.9% | -5.1% | +1.8% | |
| Q1 2024 | +5.8% | -0.3% | -8.2% | |
| Q4 2023 | +0.0% | +0.2% | -7.6% | |
| Q3 2023 | +20.1% | +19.3% | +22.6% | |
| Q2 2023 | -2.1% | -2.4% | -3.6% | |
| Q1 2023 | +3.1% | +3.9% | +7.5% | |
| Q4 2022 | +1.3% | -0.5% | -2.4% | |
| Q3 2022 | -4.1% | -1.5% | -3.2% | |
| Q2 2022 | +1.9% | +2.5% | +3.6% | |
| Q1 2022 | +0.6% | -2.9% | +3.0% | |
| Q4 2021 | +1.9% | +1.4% | +1.0% | |
| Q3 2021 | +1.3% | +4.2% | -3.9% | |
| Q1 2021 | +0.4% | +2.1% | +3.7% | |
| Q2 2021 | +2.2% | +1.3% | +5.8% | |
| Q4 2020 | +0.8% | +0.0% | -3.7% | |
| Q3 2020 | +9.0% | +9.1% | +11.0% | |
| Q2 2020 | +2.9% | +4.7% | +8.1% | |
| Q1 2020 | +8.4% | -0.2% | +13.8% | |
| Q4 2019 | +1.4% | +2.1% | -19.4% | |
| Q3 2019 | +2.7% | +2.6% | +4.8% | |
| Q2 2019 | -0.9% | -0.7% | +6.0% | |
| Q1 2019 | +1.3% | +0.4% | +0.5% | |
| Q4 2018 | +2.0% | +3.6% | +5.2% | |
| Q3 2018 | +2.0% | +3.6% | -1.4% | |
| Q2 2018 | +0.9% | +0.9% | -4.8% | |
| Q1 2018 | -1.5% | -2.8% | -6.4% | |
| Q4 2017 | +0.6% | +0.7% | +2.2% | |
| Q3 2017 | +2.3% | +3.2% | +3.2% | |
| Q2 2017 | -1.6% | +5.3% | +6.1% | |
| Q1 2017 | +2.4% | +1.4% | +4.2% | |
| Q4 2016 | -1.0% | +0.2% | +2.5% | |
| Q3 2016 | +0.7% | +2.3% | -3.6% | |
| Q2 2016 | +3.9% | +5.8% | +4.3% | |
| Q1 2016 | +4.2% | — | — | |
| Q4 2015 | +4.2% | — | — | |
| Q3 2015 | -0.2% | — | — | |
| Q2 2015 | -2.0% | — | — | |
| Q1 2015 | +0.6% | — | — | |
| Q4 2014 | +3.7% | — | — | |
| Q3 2014 | -1.1% | — | — | |
| Q2 2014 | -1.1% | — | — | |
| Q1 2014 | +2.6% | — | — | |
| Q4 2013 | -0.8% | — | — | |
| Q3 2013 | +1.5% | — | — | |
| Q2 2013 | +0.5% | — | — | |
| Q1 2013 | -1.1% | — | — | |
| Q4 2012 | +2.0% | — | — | |
| Q3 2012 | -0.8% | — | — | |
| Q2 2012 | +1.1% | — | — | |
| Q1 2012 | -0.6% | — | — | |
| Q4 2011 | -1.8% | — | — | |
| Q3 2011 | -2.0% | — | — | |
| Q2 2011 | -3.1% | — | — | |
| Q1 2011 | +0.5% | — | — | |
| Q4 2010 | +0.9% | — | — | |
| Q2 2010 | -1.2% | — | — | |
| Q3 2010 | +1.1% | — | — | |
| Q1 2010 | +1.6% | — | — |
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