Brookfield Infrastructure Partners LP (BIP) shares surged 5.29% in intraday trading on Thursday, outperforming the broader market. The rally was fueled by the company's robust financial performance in 2024 and successful execution of its asset recycling strategy, bolstering investor confidence in its future growth prospects.

For the year ended December 31, 2024, Brookfield Infrastructure reported funds from operations (FFO) of $2.47 billion, an 8% increase compared to the previous year. This impressive growth was driven by elevated levels of inflation, stronger volumes across its critical infrastructure networks, and the commissioning of over $1 billion in new capital projects.

Additionally, the company deployed over $2 billion into new investments during the second half of 2023 and completed three accretive acquisitions in 2024, further contributing to its earnings growth. Brookfield Infrastructure also achieved its targeted $2 billion in capital recycling proceeds, showcasing the resilience and durability of its business strategy.

Furthermore, the company's fourth-quarter 2024 adjusted EBITDA results exceeded analyst estimates across all business segments, including utilities, transport, midstream, and data. This strong operational performance, coupled with a Zacks Rank #2 (Buy) rating, reinforced investor confidence in Brookfield Infrastructure's ability to capitalize on growth opportunities and deliver robust returns.