FTAI Infrastructure Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
FIP$3.47+18.0%Stored close · as of Nov 6, 2026
Contents
Item 1. Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023
CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited)
(Dollars in thousands, except share and per share data)
| Three Months Ended March 31, | |||
|---|---|---|---|
| Notes | 2024 | 2023 | |
| Revenues | |||
| Total revenues | 9 | $82,535 | $76,494 |
| Expenses | |||
| Operating expenses | 64,575 | 65,162 | |
| General and administrative | 4,861 | 3,201 | |
| Acquisition and transaction expenses | 926 | 269 | |
| Management fees and incentive allocation to affiliate | 13 | 3,001 | 2,982 |
| Depreciation and amortization | 3, 6 | 20,521 | 20,135 |
| Asset impairment | — | 141 | |
| Total expenses | 93,884 | 91,890 | |
| Other (expense) income | |||
| Equity in (losses) earnings of unconsolidated entities | 5 | (11,902) | 4,366 |
| Loss on sale of assets, net | (13) | (124) | |
| Interest expense | (27,593) | (23,250) | |
| Other income | 2,365 | 221 | |
| Total other expense | (37,143) | (18,787) | |
| Loss before income taxes | (48,492) | (34,183) | |
| Provision for income taxes | 12 | 1,805 | 1,729 |
| Net loss | (50,297) | (35,912) | |
| Less: Net loss attributable to non-controlling interests in consolidated subsidiaries | (10,690) | (9,893) | |
| Less: Dividends and accretion of redeemable preferred stock | 16,975 | 14,570 | |
| Net loss attributable to stockholders | $(56,582) | $(40,589) | |
| Loss per share: | 16 | ||
| Basic | $(0.54) | $(0.39) | |
| Diluted | $(0.54) | $(0.40) | |
| Weighted average shares outstanding: | |||
| Basic | 104,189,287 | 102,787,640 | |
| Diluted | 104,189,287 | 102,787,640 | |
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