FTAI Infrastructure Inc. Reports Second Quarter 2025 Results, Declares Dividend of $0.03 per Share of Common Stock

Financial Overview - FTAI Infrastructure reported a net loss attributable to stockholders of $79.816 million for Q2 2025, compared to a loss of $54.350 million in Q2 2024 [2][24] - The basic and diluted loss per share for common stock was $0.73 for Q2 2025, compared to a loss of $0.52 in the same quarter of the previous year [2][24] - Adjusted EBITDA for Q2 2025 was $45.916 million, an increase from $34.256 million in Q2 2024 [2][24] Dividend Declaration - The Board of Directors declared a cash dividend of $0.03 per share for the quarter ended June 30, 2025, payable on September 8, 2025 [3] Business Highlights - The company agreed to acquire the Wheeling & Lake Erie Railway for $1.05 billion [9] - Plans to refinance existing 10.50% senior notes and Series A preferred stock upon closing of the acquisition [9] - Closed financing of $300 million of tax-exempt debt at Repauno with average coupons of 6.50%, with construction of phase 2 infrastructure fully underway [9] Key Performance Measures - Adjusted EBITDA is utilized as the key performance measure by the Chief Operating Decision Maker, providing insights into operational performance and resource allocation [21][22] - The reconciliation of net loss attributable to stockholders to Adjusted EBITDA for Q2 2025 indicates significant adjustments for various expenses, including interest and depreciation [23][24] Financial Position - Total assets as of June 30, 2025, were $4.407 billion, up from $2.374 billion as of December 31, 2024 [16][17] - Current assets increased to $539.045 million from $219.851 million year-over-year [16] - Total liabilities rose to $3.631 billion from $1.918 billion as of December 31, 2024 [17] Cash Flow Analysis - Net cash used in operating activities for the six months ended June 30, 2025, was $90.872 million, compared to $21.470 million in the same period of 2024 [19] - Cash flows from investing activities showed a net cash provided of $78.359 million, contrasting with a net cash used of $52.652 million in the previous year [19] - Net cash provided by financing activities was $313.480 million, up from $173.108 million in the same period of 2024 [19]