Brookfield Infrastructure reported a quarterly loss per unit, despite analysts expecting a profit. But its funds from operations (FFO) grew 10% year over year for the third straight quarter.
Brookfield Infrastructure Partners L.P. (BIP-UN.TO) reported third-quarter 2026 results on November 6. Earnings came in at -US$0.04 per unit, compared with analysts’ estimate of US$0.13—a 130.8% miss. FFO, a measure the company uses to track operating performance, was US$717 million, or US$0.91 per unit, up 10% from a year earlier. The difference matters: reported net income can swing with asset-sale gains, while FFO offers a view of ongoing operations.
Recent earnings trend
Brookfield Infrastructure Partners L.P
BIP-UN.TO
BIP-UN.TO
Brookfield Infrastructure Partners L.P
WealthAwesomeMarket cap
$44.07B
P/E
292.9x
52W high
$60.87
52W low
$44.47
1W change
+6.49%
Beta
1.03
Analyst Price Targets
Based on analyst covering BIP-UN · as of Nov 9, 2026
Wall Street analysts forecast BIP-UN stock price to rise 11.1% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$61.83
+11.1% Upside
Previously C$61.11 on Nov 6, 2026
Current Price
C$55.65
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on BIP-UN's historical volatility
30-Day Vol
24.7%
Annualized
90-Day Vol
24.8%
Annualized
Trend (90d)
+10.0%
Annualized drift
90d Mean
C$57.68
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$56.32 | C$51.72 – C$61.33 |
| 60 trading days | C$56.99 | C$50.52 – C$64.29 |
| 90 trading days | C$57.68 | C$49.76 – C$66.85 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-01-28 | — | 0.1200 | — |
| 2026-09-30 | 2026-11-06 | -0.0400 | 0.1300 | -130.8% |
| 2026-06-30 | 2026-07-30 | -0.0700 | 0.2400 | -129.2% |
| 2026-03-31 | 2026-04-29 | -0.2000 | 0.2000 | -200.0% |
| 2025-12-31 | 2026-01-29 | 0.4500 | 0.2700 | +66.7% |
| 2025-09-30 | 2025-11-07 | 0.4400 | 0.3100 | +41.9% |
Investor takeaway: The earnings miss was significant, and net income fell from the prior-year quarter, when asset-sale gains were higher. At the same time, FFO per unit rose 10%, supported by organic growth, stronger asset utilization and newly commissioned projects. Investors should weigh that operating growth against volatile reported earnings, a low reported profit margin and the planned corporate simplification. Earnings figures and forecasts are not investment advice.
US$0.91 FFO per unit, up 10%
Brookfield reported third-quarter FFO of US$717 million, or US$0.91 per unit, compared with US$654 million and US$0.83 per unit a year earlier. The company said growth came from inflation-linked pricing, strong asset utilization and about US$1.4 billion in projects commissioned from its backlog. Net income, however, fell to US$69 million from US$440 million, largely because the prior-year quarter included larger asset-sale gains.
Bull case
FFO per unit has grown 10% for three straight quarters. The data segment led the latest quarter, with FFO up 25% year over year. Utilities, transport and midstream each contributed to combined growth of about 10%. Brookfield also reported that more than 90% of its debt is fixed-rate, excluding Brazil, and that it has US$3.2 billion in corporate liquidity. It also has a pipeline of organic projects and investments.
Bear case
The -US$0.04 earnings result fell short of the US$0.13 estimate. Brookfield beat estimates in only one of the last four comparable quarters. Net income was US$69 million, down from US$440 million a year earlier, when larger asset-sale gains boosted results. Selling assets can also weigh on earnings until replacement investments start contributing. Meanwhile, AI infrastructure plans face capital and supply constraints. The reported P/E ratio and profit margin are hard to interpret because the earnings base is small.
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