FTAI Infrastructure Inc. Reports Third Quarter 2024 Results, Declares Dividend of $0.03 per Share of Common Stock

FTAI制造行业公司报告2024年第三季度业绩，宣布每股普通股股息为0.03美元。

NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the "Company" or "FTAI Infrastructure") today reported financial results for the third quarter 2024. The Company's consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release.

Financial Overview

(in thousands, except per share data)
Selected Financial Results	Q3'24
Net Loss Attributable to Stockholders	$	(49,971)
Basic and Diluted Loss per Share of Common Stock	$	(0.45)
Adjusted EBITDA (1)	$	36,928
Adjusted EBITDA - Four core segments (1)(2)	$	42,543

_______________________________

(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.
(2) Excludes Sustainability and Energy Transition and Corporate and Other segments.

Third Quarter 2024 Dividends

On October 30, 2024, the Company's Board of Directors (the "Board") declared a cash dividend on its common stock of $0.03 per share for the quarter ended September 30, 2024, payable on November 19, 2024 to the holders of record on November 12, 2024.

Business Highlights

Signed long-term contract and additional LOI at Repauno and commenced construction for phase 2 transloading system.
Construction projects at Jefferson progressing on schedule, on budget for contracts commencing in 2025.
Long Ridge power plant operated at a 99% capacity factor; new capacity pricing for 2025-26 season represents $16 million of incremental annual Adj. EBITDA and expected to continue for foreseeable future(1).

(1) Represents management's estimates; actual results may vary.

Additional Information

For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Relations section of the Company's website, , and the Company's Quarterly Report on Form 10-Q, when available on the Company's website. Nothing on the Company's website is included or incorporated by reference herein.

Conference Call

In addition, management will host a conference call on Thursday, October 31, 2024 at 8:00 A.M. Eastern Time. The conference call may be accessed by registering via the following link . Once registered, participants will receive a dial-in and unique pin to access the call.

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at . Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.

A replay of the conference call will be available after 11:30 A.M. on Thursday, October 31, 2024 through 11:30 A.M. on Thursday, November 7, 2024 on .

The information contained on, or accessible through, any websites included in this press release is not incorporated by reference into, and should not be considered a part of, this press release.

About FTAI Infrastructure Inc.

FTAI Infrastructure primarily invests in critical infrastructure with high barriers to entry across the rail, ports and terminals, and power and gas sectors that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI Infrastructure is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Transtar's continued momentum, and Long Ridge's potential ability to add substantial EBITDA for mid-2025 to mid-2026 period. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company's control. The Company can give no assurance that its expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company's website (). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

For further information, please contact:

Alan Andreini
Investor Relations
FTAI Infrastructure Inc.
(646) 734-9414
aandreini@fortress.com

Exhibit - Financial Statements

FTAI INFRASTRUCTURE INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(Dollar amounts in thousands, except share and per share data)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenues
Total revenues	$	83,311	$	80,706	$	250,733	$	239,032

Expenses
Operating expenses		62,766		68,416		188,566		196,353
General and administrative		2,989		2,485		10,690		9,388
Acquisition and transaction expenses		2,526		649		4,373		1,554
Management fees and incentive allocation to affiliate		2,807		3,238		8,584		9,304
Depreciation and amortization		19,492		20,150		60,176		60,577
Asset impairment		—		—		—		743
Total expenses		90,580		94,938		272,389		277,919

Other (expense) income
Equity in losses of unconsolidated entities		(14,308)		(9,914)		(38,998)		(7,173)
Gain (loss) on sale of assets, net		2,758		(263)		2,595		260
Gain (loss) on modification or extinguishment of debt		747		(2,020)		(8,423)		(2,020)
Interest expense		(31,513)		(25,999)		(88,796)		(73,431)
Other income		6,537		2,387		15,865		3,978
Total other expense		(35,779)		(35,809)		(117,757)		(78,386)
Loss before income taxes		(43,048)		(50,041)		(139,413)		(117,273)
(Benefit from) provision for income taxes		(92)		8		1,980		2,560
Net loss		(42,956)		(50,049)		(141,393)		(119,833)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries		(9,963)		(9,932)		(32,053)		(30,101)
Less: Dividends and accretion of redeemable preferred stock		16,978		15,984		51,563		45,811
Net loss attributable to stockholders	$	(49,971)	$	(56,101)	$	(160,903)	$	(135,543)

Loss per share:
Basic	$	(0.45)	$	(0.55)	$	(1.51)	$	(1.32)
Diluted	$	(0.45)	$	(0.55)	$	(1.51)	$	(1.32)
Weighted average shares outstanding:
Basic		109,723,831		102,820,651		106,317,677		102,800,818
Diluted		109,723,831		102,820,651		106,317,677		102,800,818

FTAI INFRASTRUCTURE INC.
CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollar amounts in thousands, except share and per share data)

	(Unaudited)
	September 30, 2024		December 31, 2023
Assets
Current assets:
Cash and cash equivalents	$	20,295	$	29,367
Restricted cash		124,338		58,112
Accounts receivable, net		55,168		55,990
Other current assets		47,266		42,034
Total current assets		247,067		185,503
Leasing equipment, net		36,173		35,587
Operating lease right-of-use assets, net		68,859		69,748
Property, plant, and equipment, net		1,624,906		1,630,829
Investments		54,148		72,701
Intangible assets, net		47,237		52,621
Goodwill		275,367		275,367
Other assets		83,732		57,253
Total assets	$	2,437,489	$	2,379,609

Liabilities
Current liabilities:
Accounts payable and accrued liabilities	$	152,957	$	130,796
Operating lease liabilities		7,270		7,218
Other current liabilities		13,449		12,623
Total current liabilities		173,676		150,637
Debt, net		1,535,679		1,340,910
Operating lease liabilities		61,651		62,441
Other liabilities		46,379		87,530
Total liabilities		1,817,385		1,641,518

Commitments and contingencies		—		—

Redeemable preferred stock ($0.01 par value per share; 200,000,000 shares authorized; 300,000 shares issued and outstanding as of September 30, 2024 and December 31, 2023; redemption amount of $436.8 million and $446.5 million at September 30, 2024 and December 31, 2023)		366,913		325,232

Equity
Common stock ($0.01 par value per share; 2,000,000,000 shares authorized; 113,745,115 and 100,589,572 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively)		1,137		1,006
Additional paid in capital		785,734		843,971
Accumulated deficit		(291,513)		(182,173)
Accumulated other comprehensive loss		(124,587)		(178,515)
Stockholders' equity		370,771		484,289
Non-controlling interest in equity of consolidated subsidiaries		(117,580)		(71,430)
Total equity		253,191		412,859
Total liabilities, redeemable preferred stock and equity	$	2,437,489	$	2,379,609

FTAI INFRASTRUCTURE INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(Dollar amounts in thousands, unless otherwise noted)

	Nine Months Ended September 30,
	2024		2023
Cash flows from operating activities:
Net loss	$	(141,393)	$	(119,833)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity in losses of unconsolidated entities		38,998		7,173
Gain on sale of assets, net		(2,595)		(260)
Loss on modification or extinguishment of debt		8,423		2,020
Gain on sale of easement		(3,486)		—
Equity-based compensation		6,768		5,814
Depreciation and amortization		60,176		60,577
Asset impairment		—		743
Change in deferred income taxes		1,187		2,148
Change in fair value of non-hedge derivative		—		1,125
Amortization of deferred financing costs		6,370		4,910
Amortization of bond discount		4,419		3,472
Provision for credit losses		569		1,661
Change in:
Accounts receivable		253		(5,547)
Other assets		(5,982)		17,387
Accounts payable and accrued liabilities		17,676		15,130
Other liabilities		1,394		1,266
Net cash used in operating activities		(7,223)		(2,214)

Cash flows from investing activities:
Investment in unconsolidated entities		(2,273)		(6,070)
Investment in convertible promissory notes		(31,500)		(51,044)
Acquisition of business, net of cash acquired		—		(4,448)
Acquisition of leasing equipment		(1,627)		—
Acquisition of property, plant and equipment		(53,322)		(78,712)
Investment in equity instruments		(5,000)		—
Proceeds from sale of leasing equipment		—		116
Proceeds from sale of property, plant and equipment		598		1,148
Proceeds from sale of easement		3,486		—
Net cash used in investing activities		(89,638)		(139,010)

Cash flows from financing activities:
Proceeds from debt, net		449,689		162,100
Repayment of debt		(247,594)		(75,131)
Payment of financing costs		(10,397)		(6,472)
Cash dividends - common stock		(9,707)		(9,254)
Cash dividends - redeemable preferred stock		(9,723)		—
Settlement of equity-based compensation		(3,214)		(90)
Distributions to non-controlling interests		(15,039)		(1,647)
Net cash provided by financing activities		154,015		69,506

Net increase (decrease) in cash and cash equivalents and restricted cash		57,154		(71,718)
Cash and cash equivalents and restricted cash, beginning of period		87,479		149,642
Cash and cash equivalents and restricted cash, end of period	$	144,633	$	77,924

Key Performance Measures

The Chief Operating Decision Maker ("CODM") utilizes Adjusted EBITDA as our key performance measure.

Adjusted EBITDA provides the CODM with the information necessary to assess operational performance, as well as make resource and allocation decisions. Adjusted EBITDA is defined as net income (loss) attributable to stockholders, adjusted (a) to exclude the impact of provision for (benefit from) income taxes, equity-based compensation expense, acquisition and transaction expenses, losses on the modification or extinguishment of debt and capital lease obligations, changes in fair value of non-hedge derivative instruments, asset impairment charges, incentive allocations, depreciation and amortization expense, interest expense, interest and other costs on pension and other pension expense benefits ("OPEB") liabilities, dividends and accretion of redeemable preferred stock, and other non-recurring items, (b) to include the impact of our pro-rata share of Adjusted EBITDA from unconsolidated entities, and (c) to exclude the impact of equity in earnings (losses) of unconsolidated entities and the non-controlling share of Adjusted EBITDA.

The following table sets forth a reconciliation of net loss attributable to stockholders to Adjusted EBITDA for the three and nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,				Change		Nine Months Ended September 30,				Change
(in thousands)	2024		2023		Change		2024		2023		Change
Net loss attributable to stockholders	$	(49,971)	$	(56,101)	$	6,130	$	(160,903)	$	(135,543)	$	(25,360)
Add: (Benefit from) provision for income taxes		(92)		8		(100)		1,980		2,560		(580)
Add: Equity-based compensation expense		2,629		4,277		(1,648)		6,768		5,814		954
Add: Acquisition and transaction expenses		2,526		649		1,877		4,373		1,554		2,819
Add: (Gains) losses on the modification or extinguishment of debt and capital lease obligations		(747)		2,020		(2,767)		8,423		2,020		6,403
Add: Changes in fair value of non-hedge derivative instruments		—		—		—		—		1,125		(1,125)
Add: Asset impairment charges		—		—		—		—		743		(743)
Add: Incentive allocations		—		—		—		—		—		—
Add: Depreciation and amortization expense (1)		20,725		20,150		575		63,418		60,577		2,841
Add: Interest expense		31,513		25,999		5,514		88,796		73,431		15,365
Add: Pro-rata share of Adjusted EBITDA from unconsolidated entities (2)		5,625		5,554		71		15,090		20,630		(5,540)
Add: Dividends and accretion of redeemable preferred stock		16,978		15,984		994		51,563		45,811		5,752
Add: Interest and other costs on pension and OPEB liabilities		(248)		480		(728)		214		1,440		(1,226)
Add: Other non-recurring items (3)		—		1,131		(1,131)		—		2,470		(2,470)
Less: Equity in losses of unconsolidated entities		14,308		9,914		4,394		38,998		7,173		31,825
Less: Non-controlling share of Adjusted EBITDA (4)		(6,318)		(5,410)		(908)		(20,305)		(15,577)		(4,728)
Adjusted EBITDA (non-GAAP)	$	36,928	$	24,655	$	12,273	$	98,415	$	74,228	$	24,187

_______________________________

(1)	Includes the following items for the three months ended September 30, 2024 and 2023: (i) depreciation and amortization expense of $19,492 and $20,150 and (ii) capitalized contract costs amortization of $1,233 and $—, respectively. Includes the following items for the nine months ended September 30, 2024 and 2023: (i) depreciation and amortization expense of $60,176 and $60,577 and (ii) capitalized contract costs amortization of $3,242 and $—, respectively.

(2)	Includes the following items for the three months ended September 30, 2024 and 2023: (i) net loss of $(14,352) and $(9,941), (ii) interest expense of $10,826 and $8,830, (iii) depreciation and amortization expense of $6,911 and $6,965, (iv) acquisition and transaction expenses of $47 and $50, (v) changes in fair value of non-hedge derivative instruments of $(2,572) and $(352), (vi) equity-based compensation of $— and $2, (vii) asset impairment of $24 and $—, (viii) equity method basis adjustments of $17 and $— and (ix) loss on modification or extinguishment of debt of $4,724 and $—, respectively. Includes the following items for the nine months ended September 30, 2024 and 2023: (i) net loss of $(39,132) and $(7,283), (ii) interest expense of $32,901 and $25,166, (iii) depreciation and amortization expense of $20,091 and $20,598, (iv) acquisition and transaction expenses of $97 and $307, (v) changes in fair value of non-hedge derivative instruments of $(4,394) and $(18,162), (vi) equity-based compensation of $2 and $4, (vii) asset impairment of $274 and $—, (viii) equity method basis adjustments of $49 and $—, (ix) loss on modification or extinguishment of debt of $4,724 and $— and (x) other non-recurring items of $478 and $—, respectively.

(3)	Includes the following item for the three and nine months ended September 30, 2023: certain non-cash expenses related to cancellation of RSUs and Railroad severance expense of $1,131 and $2,470, respectively.

(4)	Includes the following items for the three months ended September 30, 2024 and 2023: (i) equity-based compensation of $240 and $718, (ii) benefit from income taxes of $(98) and $(19), (iii) interest expense of $3,078 and $1,821, (iv) depreciation and amortization expense of $3,274 and $2,870, (v) acquisition and transaction expense of $— and $19, (vi) interest and other costs on pension and OPEB liabilities of $(1) and $1 and (vii) loss on modification or extinguishment of debt of $(175) and $—, respectively. Includes the following items for the nine months ended September 30, 2024 and 2023: (i) equity-based compensation of $939 and $904, (ii) (benefit from) provision for income taxes of $(374) and $69, (iii) interest expense of $7,906 and $5,558, (iv) depreciation and amortization expense of $9,855 and $8,950, (v) changes in fair value of non-hedge derivative instruments of $— and $61, (vi) acquisition and transaction expense of $3 and $27, (vii) interest and other costs on pension and OPEB liabilities of $1 and $3, (viii) asset impairment of $— and $2, (ix) loss on modification or extinguishment of debt of $1,975 and $— and (x) other non-recurring items of $— and $3, respectively.

The following tables sets forth a reconciliation of net income (loss) attributable to stockholders to Adjusted EBITDA for our four core segments for the three months ended September 30, 2024:

	Three Months Ended September 30, 2024
(in thousands)	Railroad		Jefferson Terminal		Repauno		Power and Gas		Four Core Segments
Net income (loss) attributable to stockholders	$	14,528	$	(8,009)	$	(4,987)	$	(8,562)	$	(7,030)
Add: Provision for (benefit from) income taxes		1,174		(426)		(73)		—		675
Add: Equity-based compensation expense		547		673		1,306		—		2,526
Add: Acquisition and transaction expenses		95		—		—		1,681		1,776
Add: Gains on the modification or extinguishment of debt and capital lease obligations		—		(747)		—		—		(747)
Add: Changes in fair value of non-hedge derivative instruments		—		—		—		—		—
Add: Asset impairment charges		—		—		—		—		—
Add: Incentive allocations		—		—		—		—		—
Add: Depreciation and amortization expense (1)		4,936		13,221		2,489		—		20,646
Add: Interest expense		78		13,107		92		—		13,277
Add: Pro-rata share of Adjusted EBITDA from unconsolidated entities (2)		—		—		—		7,512		7,512
Add: Dividends and accretion of redeemable preferred stock		—		—		—		—		—
Add: Interest and other costs on pension and OPEB liabilities		(248)		—		—		—		(248)
Add: Other non-recurring items		—		—		—		—		—
Less: Equity in losses of unconsolidated entities		—		—		—		10,474		10,474
Less: Non-controlling share of Adjusted EBITDA (3)		(30)		(6,055)		(233)		—		(6,318)
Adjusted EBITDA (non-GAAP)	$	21,080	$	11,764	$	(1,406)	$	11,105	$	42,543

_______________________________

(1)	Jefferson Terminal
	Includes the following items for the three months ended September 30, 2024: (i) depreciation and amortization expense of $11,988 and (ii) capitalized contract costs amortization of $1,233.

(2)	Power and Gas
	Includes the following items for the three months ended September 30, 2024: (i) net loss of $(10,489), (ii) interest expense of $9,544, (iii) depreciation and amortization expense of $6,217, (iv) acquisition and transaction expenses of $47, (v) changes in fair value of non-hedge derivative instruments of $(2,572), (vi) asset impairment of $24, (vii) equity method basis adjustments of $17 and (viii) loss on modification or extinguishment of debt of $4,724.

(3)	Railroad
	Includes the following items for the three months ended September 30, 2024: (i) equity-based compensation of $3, (ii) provision for income taxes of $6, (iii) depreciation and amortization expense of $22 and (iv) interest and other costs on pension and OPEB liabilities of $(1).

	Jefferson Terminal
	Includes the following items for the three months ended September 30, 2024: (i) equity-based compensation of $157, (ii) benefit from income taxes of $(100), (iii) interest expense of $3,073, (iv) depreciation and amortization expense of $3,100, and (v) loss on modification or extinguishment of debt of $(175).

	Repauno
	Includes the following items for the three months ended September 30, 2024: (i) equity-based compensation of $80, (ii) benefit from income taxes of $(4), (iii) interest expense of $5 and (iv) depreciation and amortization expense of $152.

纽约，2024年10月30日（环球新闻社） - FTAI基础设施公司（纳斯达克：FIP）（"公司"或"FTAI基础设施"）今天公布了2024年第三季度的财务业绩。公司的合并比较财务报表和关键绩效指标已作为本新闻稿的附件。

Financial Overview

财务总览

(in thousands, except per share data)
Selected Financial Results	Q3'24
Net Loss Attributable to Stockholders	$	(49,971)
Basic and Diluted Loss per Share of Common Stock	$	(0.45)
Adjusted EBITDA (1)	$	36,928
Adjusted EBITDA - Four core segments (1)(2)	$	42,543

(以千为单位，除每股数据外)
精选财务结果	2024年第三季度
归属股东的净亏损	$	(49,971)
普通股每股基本和摊薄损失	$	(0.45)
调整后的EBITDA（1）	$	36,928
调整后的EBITDA-四个核心部门（1）（2）	$	42,543

_______________________________

(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.
(2) Excludes Sustainability and Energy Transition and Corporate and Other segments.

（1）有关非GAAP措施的定义和调和，请参阅本新闻稿的附件。
（2）不包括可持续性与能源转型、企业和其他部门。

Third Quarter 2024 Dividends

2024年第三季度股息

2024年10月30日，公司董事会宣布，截至2024年9月30日的季度，每股普通股分红$0.03，将于2024年11月19日支付给2024年11月12日记录持有人。

Business Highlights

业务亮点

Signed long-term contract and additional LOI at Repauno and commenced construction for phase 2 transloading system.
Construction projects at Jefferson progressing on schedule, on budget for contracts commencing in 2025.
Long Ridge power plant operated at a 99% capacity factor; new capacity pricing for 2025-26 season represents $16 million of incremental annual Adj. EBITDA and expected to continue for foreseeable future(1).

签署了长期合同及Repаuno的额外LOI，并开始第2阶段过渡系统的施工。
杰斐逊的施工项目按计划进行，2025年合同开始时符合预算。
Long Ridge发电厂运转率达到99％；2025-26赛季的新容量定价代表1600万美元的年增量调整EBITDA，并预计会持续到可预见的未来(1)。

(1) Represents management's estimates; actual results may vary.

(1) 代表管理层的估计；实际结果可能会有所不同。

Additional Information

附加信息

有关管理层认为对投资者有用的附加信息，请参阅公司网站的投资者关系部分的演示文稿，以及公司的第10-Q表格季度报告，在公司网站上提供时可得。公司网站上的任何内容均不包括或被引用在此。

Conference Call

电话会议

此外，管理层将于2024年10月31日星期四上午8:00举行电话会议。可通过以下链接注册并参加电话会议。一旦注册，参与者将收到拨号和唯一代码以接入通话。

同时，电话会议的同步网络广播将公开提供，仅供听取，网址为。请在通话之前留出额外的时间访问该网站并下载必要的软件以便收听网络广播。

A replay of the conference call will be available after 11:30 A.M. on Thursday, October 31, 2024 through 11:30 A.M. on Thursday, November 7, 2024 on .

2024年10月31日星期四上午11:30至2024年11月7日星期四上午11:30将提供电话会议回放。

The information contained on, or accessible through, any websites included in this press release is not incorporated by reference into, and should not be considered a part of, this press release.

本新闻稿所包含或可访问的任何网站上的信息均不构成参考，并且不应视为本新闻稿的一部分。

About FTAI Infrastructure Inc.

关于FTAI基础设施公司。

FTAI基础设施主要投资于铁路、港口和码头、以及电力和燃气领域具有高进入壁垒的关键基础设施，这些基础设施在合并基础上产生强大稳定的现金流，并具有收益增长和资产增值的潜力。FTAI基础设施由Fortress投资集团LLC的子公司外部管理，这是一家领先的多元化全球投资公司。

Cautionary Note Regarding Forward-Looking Statements

关于前瞻性声明的警示说明

本新闻稿中的某些声明可能构成根据1995年《私人证券诉讼改革法》的前瞻性声明，包括但不限于Transtar持续的势头，以及Long Ridge有潜力在2025年中期至2026年中期为EBITDA带来实质性增长。这些声明基于管理层当前的期望和信念，受到一些可能导致实际结果与前瞻性声明描述有实质差异的趋势和不确定性影响，其中许多超出公司的控制范围。公司不能保证其期望会实现，这些差异可能是重大的。因此，您不应过于依赖本新闻稿中包含的任何前瞻性声明。关于可能影响这些前瞻性声明的一些风险和重要因素的讨论，请参阅公司最近一份《10-k表格》的年度报告和《10-Q表格》的季度报告中名为“风险因素”和“管理对财务状况和经营成果的讨论与分析”的部分，这些报告可在公司网站（）上获得。此外，新的风险和不确定性不时出现，公司无法预测或评估可能导致其实际结果与任何前瞻性声明不同的因素的影响。此类前瞻性声明仅适用于本新闻稿日期。公司明确声明不承担公开发表任何更新或修订本新闻稿中包含的任何前瞻性声明以反映公司期望方面的任何变化或声明基础的事件、状况或环境变化的义务。本发布不构成销售要约或要约购买任何证券。

For further information, please contact:

如需更多信息，请联系：

Alan Andreini
Investor Relations
FTAI Infrastructure Inc.
(646) 734-9414
aandreini@fortress.com

Alan Andreini
投资者关系
FTAI 制造行业公司。
（646）734-9414
aandreini@fortress.com

Exhibit - Financial Statements

陈列-基本报表

FTAI INFRASTRUCTURE INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(Dollar amounts in thousands, except share and per share data)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenues
Total revenues	$	83,311	$	80,706	$	250,733	$	239,032

Expenses
Operating expenses		62,766		68,416		188,566		196,353
General and administrative		2,989		2,485		10,690		9,388
Acquisition and transaction expenses		2,526		649		4,373		1,554
Management fees and incentive allocation to affiliate		2,807		3,238		8,584		9,304
Depreciation and amortization		19,492		20,150		60,176		60,577
Asset impairment		—		—		—		743
Total expenses		90,580		94,938		272,389		277,919

Other (expense) income
Equity in losses of unconsolidated entities		(14,308)		(9,914)		(38,998)		(7,173)
Gain (loss) on sale of assets, net		2,758		(263)		2,595		260
Gain (loss) on modification or extinguishment of debt		747		(2,020)		(8,423)		(2,020)
Interest expense		(31,513)		(25,999)		(88,796)		(73,431)
Other income		6,537		2,387		15,865		3,978
Total other expense		(35,779)		(35,809)		(117,757)		(78,386)
Loss before income taxes		(43,048)		(50,041)		(139,413)		(117,273)
(Benefit from) provision for income taxes		(92)		8		1,980		2,560
Net loss		(42,956)		(50,049)		(141,393)		(119,833)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries		(9,963)		(9,932)		(32,053)		(30,101)
Less: Dividends and accretion of redeemable preferred stock		16,978		15,984		51,563		45,811
Net loss attributable to stockholders	$	(49,971)	$	(56,101)	$	(160,903)	$	(135,543)

Loss per share:
Basic	$	(0.45)	$	(0.55)	$	(1.51)	$	(1.32)
Diluted	$	(0.45)	$	(0.55)	$	(1.51)	$	(1.32)
Weighted average shares outstanding:
Basic		109,723,831		102,820,651		106,317,677		102,800,818
Diluted		109,723,831		102,820,651		106,317,677		102,800,818

FTAI 制造行业公司。
合并营业收入表（未经审计）
（金额以千为单位，股份和每股数据除外）

	截至9月30日的三个月				截至9月30日的九个月
	2024		2023		2024		2023
收入
总收入	$	83,311	$	80,706	$	250,733	$	239,032

费用
营业费用		62,766		68,416		188,566		196,353
ZSCALER, INC.		2,989		2,485		10,690		9,388
收购和交易费用		2,526		649		4,373		1,554
管理费和激励分配给附属机构		2,807		3,238		8,584		9,304
折旧和摊销		19,492		20,150		60,176		60,577
资产减值		—		—		—		743
总支出		90,580		94,938		272,389		277,919

其他（费用）收入
未纳入合并的实体的损失中的股权		(14,308)		(9,914)		(38,998)		(7,173)
资产售卖所得(损失)净额		2,758		(263)		2,595		260
债务修改或熄灭的获利（损失）		747		(2,020)		(8,423)		(2,020)
利息支出		(31,513)		(25,999)		(88,796)		(73,431)
其他收入		6,537		2,387		15,865		3,978
其他费用总计		(35,779)		(35,809)		(117,757)		(78,386)
税前亏损		(43,048)		(50,041)		(139,413)		(117,273)
所得税（收益）费用)		(92)		8		1,980		2,560
净损失		(42,956)		(50,049)		(141,393)		(119,833)
非控股子公司其他股东损失减少		(9,963)		(9,932)		(32,053)		(30,101)
减少：分红和赎回优先股溢价		16,978		15,984		51,563		45,811
股东应占净亏损	$	(49,971)	$	(56,101)	$	(160,903)	$	(135,543)

每股亏损:
Basic	$	(0.45)	$	(0.55)	$	(1.51)	$	(1.32)
Diluted	$	(0.45)	$	(0.55)	$	(1.51)	$	(1.32)
加权平均股数：
Basic		109,723,831		102,820,651		106,317,677		102,800,818
Diluted		109,723,831		102,820,651		106,317,677		102,800,818

FTAI INFRASTRUCTURE INC.
CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollar amounts in thousands, except share and per share data)

	(Unaudited)
	September 30, 2024		December 31, 2023
Assets
Current assets:
Cash and cash equivalents	$	20,295	$	29,367
Restricted cash		124,338		58,112
Accounts receivable, net		55,168		55,990
Other current assets		47,266		42,034
Total current assets		247,067		185,503
Leasing equipment, net		36,173		35,587
Operating lease right-of-use assets, net		68,859		69,748
Property, plant, and equipment, net		1,624,906		1,630,829
Investments		54,148		72,701
Intangible assets, net		47,237		52,621
Goodwill		275,367		275,367
Other assets		83,732		57,253
Total assets	$	2,437,489	$	2,379,609

Liabilities
Current liabilities:
Accounts payable and accrued liabilities	$	152,957	$	130,796
Operating lease liabilities		7,270		7,218
Other current liabilities		13,449		12,623
Total current liabilities		173,676		150,637
Debt, net		1,535,679		1,340,910
Operating lease liabilities		61,651		62,441
Other liabilities		46,379		87,530
Total liabilities		1,817,385		1,641,518

Commitments and contingencies		—		—

Redeemable preferred stock ($0.01 par value per share; 200,000,000 shares authorized; 300,000 shares issued and outstanding as of September 30, 2024 and December 31, 2023; redemption amount of $436.8 million and $446.5 million at September 30, 2024 and December 31, 2023)		366,913		325,232

Equity
Common stock ($0.01 par value per share; 2,000,000,000 shares authorized; 113,745,115 and 100,589,572 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively)		1,137		1,006
Additional paid in capital		785,734		843,971
Accumulated deficit		(291,513)		(182,173)
Accumulated other comprehensive loss		(124,587)		(178,515)
Stockholders' equity		370,771		484,289
Non-controlling interest in equity of consolidated subsidiaries		(117,580)		(71,430)
Total equity		253,191		412,859
Total liabilities, redeemable preferred stock and equity	$	2,437,489	$	2,379,609

FTAI 制造行业公司。
联合资产负债表（未经审计）
（金额以千为单位，股份和每股数据除外）

	（未经审计）
	2024年9月30日		2023年12月31日
资产
流动资产：
现金及现金等价物	$	20,295	$	29,367
受限现金		124,338		58,112
2,687,823		55,168		55,990
其他资产		47,266		42,034
总流动资产		247,067		185,503
Leasing equipment, net		36,173		35,587
经营租赁使用权资产，净值		68,859		69,748
固定资产净额		1,624,906		1,630,829
投资		54,148		72,701
无形资产, 净额		47,237		52,621
商誉		275,367		275,367
其他		Table of Contents		57,253
资产总额	$	2,437,489	$	2,379,609

负债
流动负债:
应付账款及应计费用	$		$	130,796
营业租赁负债		7,270		7,218
其他流动负债		13,449		12,623
流动负债合计		173,676		150,637
净债务		1,535,679		1,340,910
经营租赁负债		61,651		62,441
其他负债		46,379		87,530
负债合计		1,817,385		1,641,518

承诺和 contingencies		—		—

每股面值$0.01的可赎回优先股；截至2024年9月30日和2023年12月31日，授权发行2亿股，发行并流通股份30万股；2024年9月30日和2023年12月31日的赎回金额分别为$43680万和$44650万。				325,232

股权
普通股（每股面值0.01美元；授权2,000,000,000股；截至2024年9月30日和2023年12月31日分别发行和流通113,745,115股和100,589,572股）		百万美元，并用于减少欧元、以色列新谢克尔（“NIS”）、英镑、日元、韩元和人民币的外币风险。关于这些衍生工具，获得了$		1,006
股票认购应收款项。		785,734		843,971
累积赤字		(291,513)		(182,173)
累计其他综合损失		(124,587)		(178,515)
股东权益		370,771		484,289
非控制股权参股子公司的权益		(117,580)		(71,430)
股东权益总计		253,191		412,859
总负债、可赎回优先股和股权	$	2,437,489	$	2,379,609

FTAI INFRASTRUCTURE INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(Dollar amounts in thousands, unless otherwise noted)

	Nine Months Ended September 30,
	2024		2023
Cash flows from operating activities:
Net loss	$	(141,393)	$	(119,833)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity in losses of unconsolidated entities		38,998		7,173
Gain on sale of assets, net		(2,595)		(260)
Loss on modification or extinguishment of debt		8,423		2,020
Gain on sale of easement		(3,486)		—
Equity-based compensation		6,768		5,814
Depreciation and amortization		60,176		60,577
Asset impairment		—		743
Change in deferred income taxes		1,187		2,148
Change in fair value of non-hedge derivative		—		1,125
Amortization of deferred financing costs		6,370		4,910
Amortization of bond discount		4,419		3,472
Provision for credit losses		569		1,661
Change in:
Accounts receivable		253		(5,547)
Other assets		(5,982)		17,387
Accounts payable and accrued liabilities		17,676		15,130
Other liabilities		1,394		1,266
Net cash used in operating activities		(7,223)		(2,214)

Cash flows from investing activities:
Investment in unconsolidated entities		(2,273)		(6,070)
Investment in convertible promissory notes		(31,500)		(51,044)
Acquisition of business, net of cash acquired		—		(4,448)
Acquisition of leasing equipment		(1,627)		—
Acquisition of property, plant and equipment		(53,322)		(78,712)
Investment in equity instruments		(5,000)		—
Proceeds from sale of leasing equipment		—		116
Proceeds from sale of property, plant and equipment		598		1,148
Proceeds from sale of easement		3,486		—
Net cash used in investing activities		(89,638)		(139,010)

Cash flows from financing activities:
Proceeds from debt, net		449,689		162,100
Repayment of debt		(247,594)		(75,131)
Payment of financing costs		(10,397)		(6,472)
Cash dividends - common stock		(9,707)		(9,254)
Cash dividends - redeemable preferred stock		(9,723)		—
Settlement of equity-based compensation		(3,214)		(90)
Distributions to non-controlling interests		(15,039)		(1,647)
Net cash provided by financing activities		154,015		69,506

Net increase (decrease) in cash and cash equivalents and restricted cash		57,154		(71,718)
Cash and cash equivalents and restricted cash, beginning of period		87,479		149,642
Cash and cash equivalents and restricted cash, end of period	$	144,633	$	77,924

FTAI 制造行业公司。
合并现金流量表（未经审计）
(金额以千为单位，除非另有注明)

	截至9月30日的九个月
	2024		2023
经营活动现金流量：
净损失	$	(141,393)	$	(119,833)
调整为净损失到经营活动现金流量净使用：
未纳入合并的实体的损失中的股权		38,998		7,173
出售资产的收益净额		(2,595)		(260)
债务修改或熄灭的损失		8,423		2,020
出售通行权益的收益		(3,486)		—
以股票为基础的补偿		6,768		5,814
折旧和摊销		60,176		60,577
资产减值		—		743
递延所得税负债变动		1,187		2,148
非套保衍生工具公允价值变动		—		1,125
推迟融资成本的摊销		6,370		4,910
债券型折价摊销		4,419		3,472
拨备		569		1,661
变化
应收账款		253		(5,547)
其他		(5,982)		17,387
应付账款及应计费用		17,676		15,130
其他负债		1,394		1,266
经营活动使用的净现金流量		(7,223)		(2,214)

投资活动现金流量：
对未合并实体的投资		(2,273)		(6,070)
投资于可转换的应付票据		(31,500)		(51,044)
业务收购，扣除现金收购		—		(4,448)
租赁设备的收购		(1,627)		—
购置固定资产		(53,322)
股权工具投资		(5,000)		—
出售租赁设备的收入		—		279
出售固定资产收益		598		1,148
易地交易的收入		3,486		—
投资活动产生的净现金流出		(89,638)		(139,010)

筹集资金的现金流量：
债务净收益		449,689		162,100
偿还债务		(247,594)		(75,131)
支付融资成本		(10,397)		(6,472)
普通股的现金分红		(9,707)		(9,254)
现金股息 - 可赎回优先股		(9,723)		—
股权激励报酬的结算		(3,214)		(90)
分配给非控股股权的股东		(15,039)		(1,647)
筹资活动产生的现金净额		154,015		69,506

现金及现金等价物和受限制的现金净增（减）额		（14,329）		(71,718)
现金及现金等价物和受限制的现金期初余额		87,479		149,642
现金及现金等价物和受限制的现金期末余额	$	144,633	$	77,924

Key Performance Measures

关键绩效指标

The Chief Operating Decision Maker ("CODM") utilizes Adjusted EBITDA as our key performance measure.

首席营运决策者（"CODM"）将调整后的EBITDA用作我们的关键绩效指标。

调整后的EBITDA为CODM提供了评估运营绩效以及制定资源和分配决策所必要的信息。调整后的EBITDA被定义为归属股东的净收益（损失），经调整，（a）排除了所得税贷项（收益），股权报酬支出，收购和交易费用，债务和资本租赁义务修改或摊销损失，非对冲衍生工具公允价值变动，资产减值损失，激励分配，折旧及摊销费用，利息费用，养老金和其他养老金费用的利息和其他费用（"OPEB"）负债，股息和可赎回优先股的累计，以及其他非经常性项目，（b）包含我们按比例计算的未合并实体调整后EBITDA的影响，以及（c）排除未合并实体的权益收益（损失）及未控制的调整后EBITDA的影响。

The following table sets forth a reconciliation of net loss attributable to stockholders to Adjusted EBITDA for the three and nine months ended September 30, 2024 and 2023:

以下表格列出了2024年和2023年9月30日结束的三个月和九个月的归属股东净亏损与调整后EBITDA之间的调整。

	Three Months Ended September 30,				Change		Nine Months Ended September 30,				Change
(in thousands)	2024		2023		Change		2024		2023		Change
Net loss attributable to stockholders	$	(49,971)	$	(56,101)	$	6,130	$	(160,903)	$	(135,543)	$	(25,360)
Add: (Benefit from) provision for income taxes		(92)		8		(100)		1,980		2,560		(580)
Add: Equity-based compensation expense		2,629		4,277		(1,648)		6,768		5,814		954
Add: Acquisition and transaction expenses		2,526		649		1,877		4,373		1,554		2,819
Add: (Gains) losses on the modification or extinguishment of debt and capital lease obligations		(747)		2,020		(2,767)		8,423		2,020		6,403
Add: Changes in fair value of non-hedge derivative instruments		—		—		—		—		1,125		(1,125)
Add: Asset impairment charges		—		—		—		—		743		(743)
Add: Incentive allocations		—		—		—		—		—		—
Add: Depreciation and amortization expense (1)		20,725		20,150		575		63,418		60,577		2,841
Add: Interest expense		31,513		25,999		5,514		88,796		73,431		15,365
Add: Pro-rata share of Adjusted EBITDA from unconsolidated entities (2)		5,625		5,554		71		15,090		20,630		(5,540)
Add: Dividends and accretion of redeemable preferred stock		16,978		15,984		994		51,563		45,811		5,752
Add: Interest and other costs on pension and OPEB liabilities		(248)		480		(728)		214		1,440		(1,226)
Add: Other non-recurring items (3)		—		1,131		(1,131)		—		2,470		(2,470)
Less: Equity in losses of unconsolidated entities		14,308		9,914		4,394		38,998		7,173		31,825
Less: Non-controlling share of Adjusted EBITDA (4)		(6,318)		(5,410)		(908)		(20,305)		(15,577)		(4,728)
Adjusted EBITDA (non-GAAP)	$	36,928	$	24,655	$	12,273	$	98,415	$	74,228	$	24,187

	截至三个月结束 9月30日,				Change		九个月结束九月三十日，				Change
（以千为单位）	2024		2023		Change		2024		2023		Change
股东应占净亏损	$	(49,971)	$	(56,101)	$	6,130	$	(160,903)	$	(135,543)	$	(25,360)
添加：从所得税准备中获益		(92)		8		(100)		1,980		2,560		(580)
加：基于股权的薪酬费用		2,629		4,277		(1,648)		6,768		5,814		954
加：收购和交易费用		2,526		649		1,877		4,373		1,554		2,819
添加：债务和资本租赁债务的修改或清偿产生的（获利）损失		(747)		2,020		(2,767)		8,423		2,020		6,403
加：非对冲衍生工具公平价值变动		—		—		—		—		1,125		(1,125)
加：资产减值损失		—		—		—		—		743		(743)
加：激励分配		—		—		—		—		—		—
增加：折旧及摊销费用（1）		20,725		20,150		575		63,418		60,577		2,841
Add: Interest expense		31,513		25,999		5,514		88,796		73,431		15,365
添加：未纳入合并范围实体的调整后息税折旧及摊销前利润之按比例份额 (2)		5625		5,554		71		15,090		20,630		（5,540）
添加：分红派息和可赎回优先股的累计		16,978		15,984		994		51,563		45,811		5,752
添加：养老金和OPEB责任的利息和其他成本		(248)		480		(728)		214		1,440		(1,226)
添加：其他非经常性项目（3）		—		1,131		（1,131）		—		2,470		(2,470)
减少：未纳入合并范围的实体的投资损失		14,308		9,914		4,394		38,998		7,173		31,825
减：非控股调整后的息税折旧及摊销前利润（4）		(6,318)		(5,410)		(908)		(20,305)		(15,577)		(4,728)
调整后的EBITDA（非GAAP）	$	36,928	$	24,655	$	12,273	$	98,415	$	74,228	$	24,187

_______________________________

(1)	Includes the following items for the three months ended September 30, 2024 and 2023: (i) depreciation and amortization expense of $19,492 and $20,150 and (ii) capitalized contract costs amortization of $1,233 and $—, respectively. Includes the following items for the nine months ended September 30, 2024 and 2023: (i) depreciation and amortization expense of $60,176 and $60,577 and (ii) capitalized contract costs amortization of $3,242 and $—, respectively.

(2)	Includes the following items for the three months ended September 30, 2024 and 2023: (i) net loss of $(14,352) and $(9,941), (ii) interest expense of $10,826 and $8,830, (iii) depreciation and amortization expense of $6,911 and $6,965, (iv) acquisition and transaction expenses of $47 and $50, (v) changes in fair value of non-hedge derivative instruments of $(2,572) and $(352), (vi) equity-based compensation of $— and $2, (vii) asset impairment of $24 and $—, (viii) equity method basis adjustments of $17 and $— and (ix) loss on modification or extinguishment of debt of $4,724 and $—, respectively. Includes the following items for the nine months ended September 30, 2024 and 2023: (i) net loss of $(39,132) and $(7,283), (ii) interest expense of $32,901 and $25,166, (iii) depreciation and amortization expense of $20,091 and $20,598, (iv) acquisition and transaction expenses of $97 and $307, (v) changes in fair value of non-hedge derivative instruments of $(4,394) and $(18,162), (vi) equity-based compensation of $2 and $4, (vii) asset impairment of $274 and $—, (viii) equity method basis adjustments of $49 and $—, (ix) loss on modification or extinguishment of debt of $4,724 and $— and (x) other non-recurring items of $478 and $—, respectively.

(3)	Includes the following item for the three and nine months ended September 30, 2023: certain non-cash expenses related to cancellation of RSUs and Railroad severance expense of $1,131 and $2,470, respectively.

(4)	Includes the following items for the three months ended September 30, 2024 and 2023: (i) equity-based compensation of $240 and $718, (ii) benefit from income taxes of $(98) and $(19), (iii) interest expense of $3,078 and $1,821, (iv) depreciation and amortization expense of $3,274 and $2,870, (v) acquisition and transaction expense of $— and $19, (vi) interest and other costs on pension and OPEB liabilities of $(1) and $1 and (vii) loss on modification or extinguishment of debt of $(175) and $—, respectively. Includes the following items for the nine months ended September 30, 2024 and 2023: (i) equity-based compensation of $939 and $904, (ii) (benefit from) provision for income taxes of $(374) and $69, (iii) interest expense of $7,906 and $5,558, (iv) depreciation and amortization expense of $9,855 and $8,950, (v) changes in fair value of non-hedge derivative instruments of $— and $61, (vi) acquisition and transaction expense of $3 and $27, (vii) interest and other costs on pension and OPEB liabilities of $1 and $3, (viii) asset impairment of $— and $2, (ix) loss on modification or extinguishment of debt of $1,975 and $— and (x) other non-recurring items of $— and $3, respectively.

(1)	报告包括2024年和2023年截至9月30日三个月的折旧和摊销费用分别为19,492美元和20,150美元；资本化合同成本摊销费用分别为1,233美元和$—。报告包括2024年和2023年截至9月30日九个月的折旧和摊销费用分别为60,176美元和60,577美元；资本化合同成本摊销费用分别为3,242美元和$—。

(2)	报告包括2024年和2023年截至9月30日三个月的净亏损分别为$(14,352)和$(9,941)；利息费用分别为10,826美元和8,830美元；折旧和摊销费用分别为6,911美元和6,965美元；收购和交易费用分别为47美元和50美元；非避险衍生工具公平价值变动分别为$（2,572）和$（352）；基于股权的补偿分别为$—和$2；资产减值分别为24美元和$—；股权法调整分别为17美元和$—；债务修改或灭债损失分别为4,724美元和$—。报告包括2024年和2023年截至9月30日九个月的净亏损分别为$(39,132)和$(7,283)；利息费用分别为32,901美元和25,166美元；折旧和摊销费用分别为20,091美元和20,598美元；收购和交易费用分别为97美元和307美元；非避险衍生工具公平价值变动分别为$(4,394)和$(18,162)；基于股权的补偿分别为$2和$4；资产减值分别为274美元和$—；股权法调整分别为49美元和$—；债务修改或灭债损失分别为4,724美元和$—；其他非经常性项目分别为478美元和$—。

(3)	包括以下项目，截至2023年9月30日的三个和九个月：与取消RSUs和铁路裁员支出相关的某些非现金费用分别为1,131美元和2,470美元。

(4)	包括以下项目，截至2024年9月30日的三个月和2023年：(i) 240美元和718美元的权益补偿，(ii) (98)美元和(19)美元的所得税收益，(iii) 3,078美元和1,821美元的利息费用，(iv) 3,274美元和2,870美元的折旧及摊销支出，(v) $— and $19的收购和交易费用，(vi) (1)美元和1美元的养老金和OPEb负债的利息和其他成本，以及 (vii) (175)美元和$—的债务修订或清偿的损失，分别。包括以下项目，截至2024年9月30日的九个月和2023年：(i) 939美元和904美元的权益补偿，(ii) (374)美元和69美元所得税的收益/(提存)，(iii) 7,906美元和5,558美元的利息费用，(iv) 9,855美元和8,950美元的折旧及摊销支出，(v) $— 和61美元的非套期衍生工具公允价值变动，(vi) 3美元和27 美元的收购和交易费用，(vii) 1美元和3美元的养老金和OPEb负债的利息和其他成本，(viii) $— 和2美元的资产减值，(ix) 1,975美元和$—的债务修订或清偿的损失和 (x) $—和3美元的其他非经常性项目，分别。

The following tables sets forth a reconciliation of net income (loss) attributable to stockholders to Adjusted EBITDA for our four core segments for the three months ended September 30, 2024:

下表显示了2024年9月30日结束的三个月内，我们四个核心部门净利润（亏损）归属股东与调整后的EBITDA的对账

	Three Months Ended September 30, 2024
(in thousands)	Railroad		Jefferson Terminal		Repauno		Power and Gas		Four Core Segments
Net income (loss) attributable to stockholders	$	14,528	$	(8,009)	$	(4,987)	$	(8,562)	$	(7,030)
Add: Provision for (benefit from) income taxes		1,174		(426)		(73)		—		675
Add: Equity-based compensation expense		547		673		1,306		—		2,526
Add: Acquisition and transaction expenses		95		—		—		1,681		1,776
Add: Gains on the modification or extinguishment of debt and capital lease obligations		—		(747)		—		—		(747)
Add: Changes in fair value of non-hedge derivative instruments		—		—		—		—		—
Add: Asset impairment charges		—		—		—		—		—
Add: Incentive allocations		—		—		—		—		—
Add: Depreciation and amortization expense (1)		4,936		13,221		2,489		—		20,646
Add: Interest expense		78		13,107		92		—		13,277
Add: Pro-rata share of Adjusted EBITDA from unconsolidated entities (2)		—		—		—		7,512		7,512
Add: Dividends and accretion of redeemable preferred stock		—		—		—		—		—
Add: Interest and other costs on pension and OPEB liabilities		(248)		—		—		—		(248)
Add: Other non-recurring items		—		—		—		—		—
Less: Equity in losses of unconsolidated entities		—		—		—		10,474		10,474
Less: Non-controlling share of Adjusted EBITDA (3)		(30)		(6,055)		(233)		—		(6,318)
Adjusted EBITDA (non-GAAP)	$	21,080	$	11,764	$	(1,406)	$	11,105	$	42,543

	2024年9月30日止三个月
（以千为单位）	铁路		杰斐逊终端		Repauno		Power and 燃料币		Four Core 板块
归属于股东的净利润	$	14,528	$	(8,009)	$	(4,987)	$	(8,562)	$	(7,030)
添加：所得税的（受益）规定		1,174		(426)		(73)		—		675
加：基于股权的薪酬费用		547		673		1,306		—		2,526
加：收购和交易费用		95		—		—		1,681		1,776
添加：债务和资本租赁债务修改或清偿所产生的收益		—		(747)		—		—		(747)
加：非对冲衍生工具公平价值变动		—		—		—		—		—
加：资产减值损失		—		—		—		—		—
加：激励分配		—		—		—		—		—
增加：折旧及摊销费用（1）		4,936		13,221		2,489		—		20,646
Add: Interest expense		78		13,107		92		—		13,277
添加：未纳入合并范围实体的调整后息税折旧及摊销前利润之按比例份额 (2)		—		—		—		7,512		7,512
添加：分红派息和可赎回优先股的累计		—		—		—		—		—
添加：养老金和OPEB责任的利息和其他成本		(248)		—		—		—		(248)
添加：其他非经常性项目		—		—		—		—		—
减少：未纳入合并范围的实体的投资损失		—		—		—		10,474		10,474
减少：调整后的息税折旧及摊销前利润中非控股权益份额(3)		（30）		(6,055)		(233)		—		(6,318)
调整后的EBITDA（非GAAP）	$	21,080	$	11,764	$	(1,406)	$	11,105	$	42,543

_______________________________

(1)	Jefferson Terminal
	Includes the following items for the three months ended September 30, 2024: (i) depreciation and amortization expense of $11,988 and (ii) capitalized contract costs amortization of $1,233.

(2)	Power and Gas
	Includes the following items for the three months ended September 30, 2024: (i) net loss of $(10,489), (ii) interest expense of $9,544, (iii) depreciation and amortization expense of $6,217, (iv) acquisition and transaction expenses of $47, (v) changes in fair value of non-hedge derivative instruments of $(2,572), (vi) asset impairment of $24, (vii) equity method basis adjustments of $17 and (viii) loss on modification or extinguishment of debt of $4,724.

(3)	Railroad
	Includes the following items for the three months ended September 30, 2024: (i) equity-based compensation of $3, (ii) provision for income taxes of $6, (iii) depreciation and amortization expense of $22 and (iv) interest and other costs on pension and OPEB liabilities of $(1).

	Jefferson Terminal
	Includes the following items for the three months ended September 30, 2024: (i) equity-based compensation of $157, (ii) benefit from income taxes of $(100), (iii) interest expense of $3,073, (iv) depreciation and amortization expense of $3,100, and (v) loss on modification or extinguishment of debt of $(175).

	Repauno
	Includes the following items for the three months ended September 30, 2024: (i) equity-based compensation of $80, (ii) benefit from income taxes of $(4), (iii) interest expense of $5 and (iv) depreciation and amortization expense of $152.

(1)	杰斐逊码头
	包括截至2024年9月30日三个月的以下项目：(i) 折旧和摊销费用为$11,988，(ii) 资本化合同成本摊销为$1,233。

(2)	能源和燃料币
	包括2024年9月30日结束的三个月的以下项目：(i) 净亏损为$(10,489)，(ii) 利息费用为$9,544，(iii) 折旧和摊销费用为$6,217，(iv) 收购和交易费用为$47，(v) 非对冲衍生工具公允价值变动为$(2,572)，(vi) 资产减值为$24，(vii) 权益法调整为$17，和(viii)债务修改或摊销损失为$4,724。

(3)	铁路
	以下为截至2024年9月30日三个月的项目：(i) 3美元的股权报酬，(ii) 6美元的所得税准备，(iii) 22美元的折旧和摊销费用，以及(iv) 养老金和OPEb责任的利息和其他成本(-1美元)。

	杰斐逊终端
	包括截至2024年9月30日三个月的以下项目： (i) 157美元的股权报酬、 (ii) 100美元的所得税收益、 (iii) 3,073美元的利息费用、 (iv) 3,100美元的折旧及摊销费用、 (v) 175美元的债务修改或清偿损失。

	Repauno
	包括截至2024年9月30日三个月的以下项目： (i) 80美元的股权报酬、 (ii) 4美元的所得税收益、 (iii) 5美元的利息费用、 (iv) 152美元的折旧及摊销费用。

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FTAI Infrastructure Inc. Reports Third Quarter 2024 Results, Declares Dividend of $0.03 per Share of Common Stock

FTAI Infrastructure Inc. Reports Third Quarter 2024 Results, Declares Dividend of $0.03 per Share of Common Stock

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