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Visual21 Nov 2025
Data center suppliers
FTAI Infrastructure (FIP) investor relations material
FTAI Infrastructure Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary31 Oct, 2025
Executive summary
Adjusted EBITDA for Q3 2025 reached $70.9 million, up 54–55% sequentially and nearly double year-over-year, driven by strong rail and power segment performance and the Wheeling & Lake Erie Railway acquisition.
Net loss attributable to stockholders widened to $118.4 million in Q3 2025, reflecting higher expenses, integration costs, and increased interest expense.
Total assets rose to $5.5 billion as of September 30, 2025, with equity and redeemable preferred stock of $1.1 billion.
Major acquisitions included Long Ridge Energy & Power LLC and Wheeling & Lake Erie Railway, expanding the Power and Gas and Railroad segments.
Operations span five segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition.
Financial highlights
Q3 2025 revenues were $140.6 million, up from $96.2 million in Q2 2025 and $83.3 million in Q3 2024.
Adjusted EBITDA for Q3 2025 was $70.9 million, with nine-month Adjusted EBITDA at $272.1 million.
Rail segment Adjusted EBITDA was $29.1 million, including $8.4 million from Wheeling for five weeks; Long Ridge segment Adjusted EBITDA was $35.7 million.
Net loss for Q3 2025 was $118.4 million, with a loss per share of $1.38.
Cash and restricted cash at period end was $353.9 million.
Outlook and guidance
Management targets over $450 million in annual Adjusted EBITDA, contingent on successful integration, expansion, and contract execution.
Plans to refinance $1.55 billion of debt due in the next 12 months, including new term loans and senior notes.
Long Ridge annualized Adjusted EBITDA projected at $143–$160 million based on Q3 2025 results.
Combined Transtar and Wheeling EBITDA run rate targeted at ~$220 million by end of 2026.
Repauno phase two completion targeted by end of 2026; phase three cavern project permitted and expected to double storage capacity.
Long Ridge sale: What's the rationale?
Wheeling acquisition: Expected 2026 EBITDA?
Why did Q3 net loss worsen despite EBITDA growth?
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Next FTAI Infrastructure earnings date
Q4 202527 Feb, 2026
Next FTAI Infrastructure earnings date
Q4 202527 Feb, 2026
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Frequently asked questions
FTAI Infrastructure Inc. specializes in acquiring, developing, and operating infrastructure assets and businesses for customers in the transportation and energy industries across North America. With a strategic focus on critical infrastructure, the company operates through five key segments: Railroad, Jefferson Terminal, Repauno, Power and Gas, and Sustainability and Energy Transition. These sectors are chosen for their high barriers to entry and potential for stable cash flows, earnings growth, and asset appreciation. The company is headquartered in NYC and its shares are listed on the NASDAQ under the ticker symbol FIP.
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