Chief Executive Officer Alec G. Dreyer said that given the gradual recovery of the U.S. economy, a conservative expectation for container growth at the Port of Houston Authority is appropriate — 4.1 percent for 2012 and 4.8 percent projected for 2013. General cargo growth is also expected to continue in 2012 and 2013.
Tom Heidt, Vice President, Finance & Administration, said the Port Authority is budgeting $214.8 million in operating revenue for 2012 and $64.2 million in operating income. Net income for 2012 is budgeted at $8.9 million.
Going forward, Dreyer said the primary operational focus for the Port of Houston Authority will
be to balance headcount and other expenses against actual operating performance to enhance operating cost transparency and consistently generate free cash flow.
“To succeed, we must operate at a different level than we have in the past,” he said.
The Port Commission is set to review the 2012 budget at its Dec. 13 meeting.