Press release
FTAI Infrastructure Inc. Reports Second Quarter 2023 Results, Declares Dividend of $0.03 per Share of Common Stock
NEW YORK, July 25, 2023 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the “Company” or “FTAI Infrastructure”) today reported financial results
About this update from Ftai Infrastructure Inc.
[{"type":"text","content":"NEW YORK, July 25, 2023 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the “Company” or “FTAI Infrastructure”) today reported financial results for the second quarter 2023. The Company’s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release. Financial Overview (in thousands, except per share data)Selected Financial ResultsQ2’23Net Loss Attributable to Stockholders$(38,853) Basic and Diluted Loss per Share of Common Stock$(0.38) Adjusted EBITDA(1)$27,677 Adjusted EBITDA - Four core segments(1)(2)$36,153 _______________________________(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 Second Quarter 2023 Dividends On July 25, 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 June 30, 2023, payable on August 15, 2023 to the holders of record on August 8, 2023. Business Highlights Adjusted EBITDA of $36.2 million from our four core segments, up 20% vs Q1 of 2023 Transtar business unit generated $20.3 million of Adjusted EBITDA for the quarter Executed 15-year contract with first customer at “Jefferson South” terminal for transloading of clean fuels 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, July 26, 2023 at 8:00 A.M. Eastern Time. The conference call may be accessed by registering at https://register.vevent.com/register/BI9b1bb57ad78c4240883aa2c3d4164ab8. Once registered, participants will receive a dial-in and unique pin to access the call. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at https://www.fipinc.com. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast. A replay of the conference call will be available after 11:30 A.M. on Wednesd...