FTAI Infrastructure is preparing for a major balance-sheet reset through the anticipated sale of Long Ridge Energy & Power Generation as its rail operations simultaneously deliver record quarterly revenue and Adjusted EBITDA.
The Long Ridge transaction remains subject to regulatory approval. At closing, FTAI Infrastructure expects to immediately eliminate approximately $1.16 billion of Long Ridge debt and use net sale proceeds to repay another approximately $300 million of other debt, representing roughly $1.46 billion of potential debt reduction.
The deleveraging effort comes as FTAI Infrastructure’s rail segment reaches record operating levels. The company reported record rail revenue and Adjusted EBITDA during Q2 and announced a tuck-in acquisition of Tidewater Logistics on June 29.
Companywide Adjusted EBITDA reached $76.1 million during Q2, up from $45.9 million in the prior-year period. Adjusted EBITDA from FTAI Infrastructure’s four core segments totaled $83 million.
The railroad segment itself generated approximately $42.4 million of Adjusted EBITDA during the quarter, making it the largest contributor among FTAI Infrastructure’s four core operating segments.
Infrastructure development is also progressing elsewhere in the portfolio. Jefferson Terminal completed its SSP bi-directional pipeline project, while the second phase of Repauno continues moving toward an expected operational launch in early 2027.
Despite the Adjusted EBITDA growth, FTAI Infrastructure reported a Q2 net loss attributable to common shareholders of $166.5 million, or $1.41 per share.
The board also declared a quarterly cash dividend of $0.03 per common share, payable September 8 to shareholders of record on August 24.
