Press release
FTAI Reports First Quarter 2020 Results, Dividend of $0.33 per Common Share
NEW YORK, April 30, 2020 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (the “Company” or “FTAI”) today reported
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, April 30, 2020 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (the “Company” or “FTAI”) today reported financial results for the first quarter 2020. The Company’s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release.\n Financial Overview (in thousands, except per share data) Selected Financial ResultsQ1’20 Net Cash Used in Operating Activities$(11,806) Net Loss Attributable to Shareholders$(2,863) Basic and Diluted Loss per Common Share$(0.03) Funds Available for Distribution (“FAD”) (1)$96,037 Adjusted EBITDA(1)$71,995 _______________________________(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. For the first quarter of 2020, total FAD was $96.0 million. This amount includes $121.3 million from our aviation leasing portfolio, and $1.7 million from our infrastructure business, offset by $(27.0) million from corporate and other. First Quarter 2020 Dividends On April 28, 2020, the Company’s Board of Directors (the “Board”) declared a cash dividend on its common shares of $0.33 per share for the quarter ended March 31, 2020, payable on May 26, 2020 to the holders of record on May 15, 2020. Additionally, on April 28, 2020, the Board declared cash dividends on its Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (“Series A Preferred Shares”) and Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (“Series B Preferred Shares”) of $0.51563 and $0.50000 per share, respectively, for the quarter ended March 31, 2020, payable on June 15, 2020 to the holders of record on June 1, 2020. Additional Information For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Relations section of the Company’s website, www.ftandi.com, and the Company’s Quarterly Report on Form 10-Q, when available on the Company’s website. Nothing on the Company’s website is included or incorporated by reference herein. Conference Call The Company will host a conference call on Friday, May 1, 2020 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (877) 447-5636 (from within the U.S.) or (615) 247-0080 (from outside of the U...