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Macquarie Infrastructure Corporation (NYSE: MIC) reported its Q4 and full-year 2020 results, citing a net loss from ongoing operations of $206 million compared to a net income of $25 million in 2019. Revenue fell to $847 million from $1,212 million, primarily due to COVID-19 impacts. Plans for reorganization aim to facilitate the sale of the Atlantic Aviation business. Adjusted EBITDA dropped to $220 million from $316 million year-over-year. Guidance for 2021 anticipates EBITDA growth to $230-$260 million, contingent on the successful COVID-19 vaccine rollout.
Macquarie Infrastructure Corporation (MIC) will host a conference call on February 17, 2021, at 8:00 a.m. ET to discuss its fourth quarter and full year 2020 financial results. A press release summarizing these results will be released prior to the call. Participants can access the call at +1 877-407-2991 or +1 201-389-0925, with a live webcast available at www.macquarie.com/mic. A replay will be available from February 17, 2021, 2:00 p.m. through February 24, 2021. MIC engages in airport and energy services in the U.S.
Macquarie Infrastructure Corporation (NYSE: MIC) has announced an adjustment to the conversion ratio for its 2.00% Convertible Senior Notes due 2023. Effective January 11, 2021, the conversion ratio will increase to 12.6572 shares per $1,000 of principal amount. This change reflects the special dividend paid on January 8, 2021, to common stockholders. MIC operates in the U.S. providing airport and energy services. For more information, visit www.macquarie.com/mic.
Macquarie Infrastructure Corporation (NYSE: MIC) has completed the sale of its International-Matex Tank Terminals (IMTT) business for $2.67 billion, net of adjustments, including $1.11 billion in assumed debt. The board has approved a special dividend of $11.00 per share, payable on January 8, 2021, to shareholders of record as of January 5, 2021. This dividend is significant, representing more than 25% of the stock price on the announcement date. MIC plans to focus on its remaining operations and potential strategic alternatives.
Macquarie Infrastructure Corporation (NYSE: MIC) reported its Q3 2020 financial results, highlighting a net loss of $(158) million compared to net income of $2 million in Q3 2019. The company agreed to sell its International-Matex Tank Terminals (IMTT) for approximately $2.685 billion, aiming to use proceeds for a special dividend of about $10.75 per share and to reduce debt. Adjusted EBITDA was $60 million, down from $69 million year-over-year. Despite COVID-19 impacts, the performance of Atlantic Aviation improved sequentially, while MIC Hawaii faced significant declines due to reduced tourism.
Macquarie Infrastructure Corporation (MIC) will hold a conference call on November 9, 2020, at 8:00 a.m. ET to discuss its Q3 2020 financial results. A press release summarizing these results will be issued before the call. Interested parties can dial in or listen to the webcast on MIC's website. A replay will be accessible after 2:00 p.m. ET on the same day until November 16, 2020. MIC operates diverse businesses, including liquid terminals and airport services, providing essential customer services across the U.S.
Macquarie Infrastructure Corporation (NYSE: MIC) reported a net loss of $8 million for Q2 2020, down from a net income of $6 million in Q2 2019, primarily due to COVID-19's impact on operations. Adjusted EBITDA totaled $87 million, a 35% decline year-on-year, while cash from operating activities fell to $73 million from $108 million. The IMTT segment showed resilience with EBITDA of $68 million, yet Atlantic Aviation and MIC Hawaii faced significant revenue drops. The leverage ratio increased to approximately 4.8 times, raising concerns about financial flexibility amidst ongoing challenges.
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