Macquarie Infrastructure posts 1Q loss on interest expenses

NEW YORK—Macquarie Infrastructure Co. swung to a loss in the first quarter on higher interest costs and an equity loss, the operator of airports and energy terminals said Thursday.

The U.S. unit of the Macquarie Group reported a loss of $2 million, or 4 cents per share, after earning $7.9 million, or 21 cents per share, in the year-ago period.

Analysts expected a profit of 7 cents per share, according to Thomson Financial.

Revenue rose 65 percent to $278.7 million from $169 million last year, surpassing Wall Street's estimate of $267 million. Expenses also rose, jumping to $252.1 million.

The company said the revenue gains came from general business improvement and the inclusion of acquisitions.

Macquarie's interest expense rose 47 percent to $25.8 million, and it took a loss of $2.1 million on an equity investment that delivered a profit of $3.5 million last year.