Press release
FTAI Infrastructure Inc. Reports First Quarter 2023 Results, Declares Dividend of $0.03 per Share of Common Stock
NEW YORK, May 02, 2023 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the “Company” or “FTAI Infrastructure”) today reported financial results for
About this update from Ftai Infrastructure Inc.
[{"type":"text","content":"NEW YORK, May 02, 2023 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the “Company” or “FTAI Infrastructure”) today reported financial results for the first quarter 2023. The Company’s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release. Financial Overview (in thousands, except per share data) Selected Financial ResultsQ1’23 Net Loss Attributable to Stockholders$(40,589) Basic Loss per Share of Common Stock$(0.39) Diluted Loss per Share of Common Stock$(0.40) Adjusted EBITDA(1)$21,896 Adjusted EBITDA - Four core segments (1)(2) $ 30,122 _______________________________ (1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.(2) Excludes Sustainability and Energy Transition and Corporate and Other segments First Quarter 2023 Dividends On May 2, 2023, the Company’s Board of Directors (the “Board”) declared a cash dividend on its common stock of $0.03 per share for the quarter ended March 31, 2023, payable on May 26, 2023 to the holders of record on May 15, 2023. Business Highlights Transtar’s first quarter 2023 Adjusted EBITDA was $17.2 million, up from $13.5 million for the fourth quarter of 2022, driven by growth in both carload volumes and average rate per carloadJefferson Terminal commenced service under the previously announced Exxon marine contractRepauno Adjusted EBITDA loss of $4.9 million for the first quarter primarily attributable to costs incurred to prepare for a new multi-year tolling contract which commenced on April 1, 2023Long Ridge returned to normal operations in early January following fourth quarter 2022 power plant outage 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.fipinc.com, and the Company’s Quarterly Report on Form 10-Q, when available on the Company’s website. Conference Call In addition, management will host a conference call on Wednesday, May 3, 2023 at 8:00 A.M. Eastern Time. The conference call may be accessed by registering via the following link: https://register.vevent.com/register/BI76e04d920aa34a3db8931a5a75020dc8. Once registered, participants will receive a dial-in and unique pin to access the cal...