6. FTAI Infrastructure Inc. (NASDAQ:FIP)
Number of Hedge Fund Holders: 20
Share Price as of the Close of May 15: $1.73
FTAI Infrastructure Inc. (NASDAQ:FIP) reported its Q1 2026 earnings on May 7. During the earnings call, CEO and President Kenneth Nicholson discussed the planned sale of Long Ridge, stating that FTAI had reached an agreement to sell the asset to MARA Holdings for $1.52 billion. He said the transaction was expected to close in the third quarter of 2026, pending regulatory approvals, with no other significant conditions remaining. Nicholson also noted that the existing debt tied to Long Ridge would either be repaid or taken over by the buyer, which should leave FTAI with more than $300 million in net proceeds.
According to Nicholson, the sale aligns with two major company goals: lowering leverage and sharpening the focus on the core freight rail business. He added that management expects 2026 to be a busy year for the railroad segment and said the company is currently evaluating several rail-related opportunities.
On the balance sheet, Nicholson said FTAI plans to reduce parent-level debt by at least $300 million while cutting annual parent-level interest expense by roughly $30 million. He noted that those moves should strengthen the company’s leverage profile. Nicholson also expressed confidence in the company’s Jefferson and Repauno terminal assets. He said management remains focused on improving earnings at both facilities before eventually pursuing monetization opportunities. He also pointed to improved financial performance during the quarter, with adjusted EBITDA rising to $70.6 million from $35.2 million in the first quarter of 2025.
Nicholson added that results were affected by a 25-day outage at Long Ridge, which weighed on both revenue and EBITDA during the quarter. He said consolidated Q1 EBITDA would have topped $80 million without the outage impact.
FTAI Infrastructure Inc. (NASDAQ:FIP) develops, acquires, and operates infrastructure assets that support customers in the transportation, energy, and industrial sectors.
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