Financial Performance - Total revenues for the three months ended June 30, 2022, were $65.868 million, a significant increase of $50.524 million compared to $15.344 million for the same period in 2021 [173]. - Rail revenues for the three months ended June 30, 2022, were $37.507 million, with no revenues reported for the same period in 2021 [173]. - Terminal services revenues increased by $3.107 million to $14.227 million for the three months ended June 30, 2022, compared to $11.120 million in 2021 [173]. - Total revenues increased by $50.5 million for the three months ended June 30, 2022, primarily due to higher revenues of $38.1 million in the Transtar segment and $10.2 million in the Corporate segment [177]. - Adjusted EBITDA increased by $23.3 million for the three months ended June 30, 2022, reaching $21.6 million compared to a loss of $1.8 million in the same period last year [184]. - The Jefferson Terminal segment reported total revenues of $14,528 thousand for the three months ended June 30, 2022, an increase of $3,001 thousand compared to the same period in 2021 [186]. - Total revenues for Transtar were $38.1 million and $72.1 million for the three and six months ended June 30, 2022, respectively [204]. - Total revenues increased by $10.2 million during the three months ended June 30, 2022, primarily due to an increase in other revenues from the acquisition of a majority interest in FYX [212]. Operating Expenses - Operating expenses for the three months ended June 30, 2022, were $49.229 million, an increase of $31.920 million from $17.309 million in the same period of 2021 [173]. - Total expenses increased by $44.0 million for the three months ended June 30, 2022, driven by higher operating expenses, depreciation and amortization, and acquisition and transaction expenses [180]. - Operating expenses rose by $31.9 million, primarily due to an increase of $12.3 million in compensation and benefits related to the acquisition of Transtar [181]. - Total expenses increased by $20.5 million for the six months ended June 30, 2022, driven by higher operating expenses and acquisition-related costs [213]. - Operating expenses increased by $9.8 million, reflecting higher costs of sales and compensation related to the consolidation of FYX [213]. Net Loss - Net loss attributable to the Parent for the three months ended June 30, 2022, was $29.480 million, compared to a net loss of $25.435 million in the same period of 2021 [173]. - Net loss increased by $5.9 million and $41.9 million during the three and six months ended June 30, 2022, respectively [183]. - Net loss attributable to Parent was $(29,480) thousand for the three months ended June 30, 2022, compared to $(25,435) thousand for the same period in 2021, reflecting an increase of $4,045 thousand [175]. - Net loss attributable to Parent was $(18,011) thousand for the three months ended June 30, 2022, compared to $(12,211) thousand for the same period in 2021, representing a change of $(5,800) thousand [197]. - The company reported a net loss of $(48,237) thousand for the six months ended June 30, 2022, compared to $(7,790) thousand for the same period in 2021, indicating a significant increase in losses [195]. - Net loss attributable to Parent was $(14,526) thousand for the three months ended June 30, 2022, compared to $(6,039) thousand for the same period in 2021, reflecting an increase of $(8,487) thousand [210]. Cash Flow and Investments - Cash used for investments was $120.5 million during the six months ended June 30, 2022, compared to $73.7 million in the same period of 2021 [218]. - Net cash used in operating activities was $(55,390) thousand for the six months ended June 30, 2022, a decrease of $2.4 million from $(57,780) thousand in 2021 [218]. - Cash flows from financing activities decreased by $25.2 million, primarily due to a decrease in contributions from Parent and proceeds from debt [218]. - Funds available for distribution (FAD) were $(7,698) thousand for the six months ended June 30, 2022, compared to $(21,543) thousand for the same period in 2021 [220]. Debt and Obligations - The company entered into subscription agreements to issue $300 million of preferred stock and warrants, and sold $500 million of 10.500% senior secured notes due 2027 in connection with the spin-off [164]. - As of June 30, 2022, the company had outstanding principal and interest payment obligations of $0.7 billion and $0.3 billion, respectively [222]. - Operating lease obligations amounted to $172.9 million, with $6.0 million due in the next twelve months [222]. - A hypothetical 100-basis point increase in variable interest rates would result in an increase of approximately $0.3 million in interest expense over the next 12 months [228]. Future Outlook - The Jefferson Terminal business has been adversely affected by COVID-19, but throughput is expected to return to pre-pandemic levels in 2022 [166]. - The company expects to continue investing in critical infrastructure sectors and pursue additional investment opportunities [162]. - The company is evaluating several potential infrastructure transactions and related financings that could occur within the next 12 months [218]. - Management believes adequate capital and borrowings are available from various sources to fund commitments as required [224]. - The Jefferson Terminal segment is expected to generate positive Adjusted EBITDA in future years, despite delays in certain anticipated contracts [225].