Press release
FTAI Reports Third Quarter 2020 Results, Dividend of $0.33 per Common Share
NEW YORK, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (the “Company” or “FTAI”) today reported
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, Oct. 29, 2020 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) (the “Company” or “FTAI”) today reported financial results for the third quarter 2020. The Company’s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release.\n Financial Overview (in thousands, except per share data)Selected Financial ResultsQ3’20Net Cash Used in Operating Activities$(16,259)Net Loss Attributable to Shareholders$(25,958)Basic and Diluted Loss per Common Share$(0.30) Funds Available for Distribution (“FAD”) (1)$39,856 Adjusted EBITDA(1)$58,636 _______________________________(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. For the third quarter of 2020, total FAD was $39.9 million. This amount includes $74.5 million from our aviation leasing portfolio, offset by $(0.3) million from our infrastructure business and $(34.3) million from corporate and other. Third Quarter 2020 Dividends On October 29, 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 September 30, 2020, payable on November 30, 2020 to the holders of record on November 16, 2020. Additionally, on October 29, 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 September 30, 2020, payable on December 15, 2020 to the holders of record on December 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, October 30, 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) ...