FTAI Infrastructure Inc.
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
View on SEC.govAbout this filing
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.
Sep 30, 2025 · Filed Oct 31, 2025
FIP$3.47+18.0%Stored close · as of Nov 6, 2026
Contents
Item 1. Consolidated Statements of Operations for the three and nine months ended September 30, 2025 and 2024
CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited)
(Dollars in thousands, except share and per share data)
| Three Months Ended September 30, · Nine Months Ended September 30, | |||||
|---|---|---|---|---|---|
| Notes | 2025 | 2024 | 2025 | 2024 | |
| Revenues | |||||
| Total revenues | 11 | $140,556 | $83,311 | $359,003 | $250,733 |
| Expenses | |||||
| Operating expenses | 74,985 | 62,766 | 216,465 | 188,566 | |
| General and administrative | 3,202 | 2,989 | 12,177 | 10,690 | |
| Acquisition and transaction expenses | 3,221 | 2,526 | 15,440 | 4,373 | |
| Management fees and incentive allocation to affiliate | 15 | 3,782 | 2,807 | 10,004 | 8,584 |
| Depreciation and amortization | 4, 7 | 34,813 | 19,492 | 93,823 | 60,176 |
| Asset impairment | — | — | 4,401 | — | |
| Total expenses | 120,003 | 90,580 | 352,310 | 272,389 | |
| Other income (expense) | |||||
| Equity in earnings (losses) of unconsolidated entities | 6 | 2,928 | (14,308) | 6,247 | (38,998) |
| Gain on sale of assets, net | 28 | 2,758 | 119,856 | 2,595 | |
| (Loss) gain on modification or extinguishment of debt | 8 | (55,208) | 747 | (59,281) | (8,423) |
| Interest expense | (73,312) | (31,513) | (175,628) | (88,796) | |
| Other income | 5,554 | 6,537 | 12,299 | 15,865 | |
| Total other expense | (120,010) | (35,779) | (96,507) | (117,757) | |
| Loss before income taxes | (99,457) | (43,048) | (89,814) | (139,413) | |
| Provision for (benefit from) income taxes | 14 | 5,081 | (92) | (35,481) | 1,980 |
| Net loss | (104,538) | (42,956) | (54,333) | (141,393) | |
| Less: Net loss attributable to non-controlling interests in consolidated subsidiaries - common stockholders | (11,497) | (9,963) | (33,998) | (32,053) | |
| Less: Preferred dividends and accretion on redeemable non-controlling interests | 12,487 | — | 12,487 | — | |
| Less: Dividends and accretion of redeemable preferred stock | 12,824 | 16,978 | 55,622 | 51,563 | |
| Net loss attributable to stockholders, before series B preferred stock dividend and loss on extinguishment of preferred stock | $(118,352) | $(49,971) | $(88,444) | $(160,903) | |
| Net loss attributable to common stockholders | 18 | $(159,283) | $(49,971) | $(134,924) | $(160,903) |
| Loss per share: | 18 | ||||
| Basic | $(1.38) | $(0.45) | $(1.17) | $(1.51) | |
| Diluted | $(1.38) | $(0.45) | $(1.18) | $(1.51) | |
| Weighted average shares outstanding: | |||||
| Basic | 115,555,973 | 109,723,831 | 114,851,106 | 106,317,677 | |
| Diluted | 115,555,973 | 109,723,831 | 114,851,106 | 106,317,677 | |
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