Brookfield Infrastructure Partners reported Funds from Operations (FFO) of $599 million for the third quarter ended September 30, 2024, marking a 7% increase over the comparable period. FFO per unit was $0.76, representing a 4% increase after accounting for an increased share count.
The company's Utilities segment generated FFO of $188 million, up 9%, driven by inflation indexation and the commissioning of over $450 million in capital. The Transport segment's FFO surged 50% to $308 million, primarily due to the Triton acquisition and an incremental 10% stake in a Brazilian rail and logistics operation.
The Data segment saw FFO increase by 29% to $85 million, boosted by strong performance and new investments, including the commissioning of 70 megawatts of data center capacity. Brookfield Infrastructure also successfully achieved its $2 billion capital recycling target for the year, securing approximately $600 million in proceeds during the quarter.
A quarterly distribution of $0.405 per unit was declared, payable on December 31, 2024, reflecting a 6% increase compared to the prior year. This consistent distribution growth, alongside robust FFO, underscores the company's ability to generate stable and growing cash flows.
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