Press release
FTAI Reports Record Fourth Quarter and Full Year 2019 Results, Dividend of $0.33 per Common Share
NEW YORK, Feb. 27, 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, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (the “Company” or “FTAI”) today reported financial results for the quarter and full year ended December 31, 2019. 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 ResultsQ4’19 FY19 Net Cash Provided by Operating Activities$58,330 $151,043 Net Income Attributable to Shareholders$ 183,647 $223,270 Basic and Diluted Earnings per Common Share$2.13 $2.59 Funds Available for Distribution (“FAD”) (1)$ 288,618 $566,436 Adjusted EBITDA(1)$233,954 $503,408 ________________________________(1)For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. For the fourth quarter of 2019, total FAD was $288.6 million. This amount includes $174.2 million from our aviation leasing portfolio, and $167.2 million from our infrastructure business, offset by $(52.8) million from corporate and other. Joe Adams, FTAI’s CEO, stated, “Our fourth quarter was exceptional, as was all of 2019. 2020 is setting up to be even better.” Fourth Quarter 2019 Dividends On February 27, 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 December 31, 2019, payable on March 24, 2020 to the holders of record on March 13, 2020. Additionally, on February 27, 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 $0.60000 per share, respectively, for the quarter ended December 31, 2019, payable on March 16, 2020 to the holders of record on March 9, 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 Annual Report on Form 10-K, when available on the Company’s website. Nothing on the Company’s website is included or incorporated by reference herein. C...