FTAI Infrastructure (NASDAQ:FIP) used its first-quarter 2026 earnings call to focus heavily on the pending sale of its Long Ridge power and gas asset, a transaction CEO Ken Nicholson said is expected to materially improve the company’s leverage profile and sharpen its strategic…
phasis on freight rail growth. Long Ridge sale: $1.52 billion transaction value, expected Q3 close Nicholson said the company signed an agreement “just over a week ago” to sell Long Ridge to MARA Holdings for an aggregate transaction value of $1.52 billion
The company expects to close in the third quarter of 2026, subject to regulatory approval. Nicholson told analysts the primary approval is from the Federal Energy Regulatory Commission (FERC) for a change of control, and that the filing was expected imminently. He guided to “the middle of the third quarter” for approval, adding the company is focused on closing as soon as possible because earlier repayment would reduce interest expense.
According to Nicholson, existing Long Ridge debt will be repaid or assumed by the buyer, and expected net proceeds to FTAI Infrastructure are anticipated to be in excess of $300 million. He said the company plans to use the bulk of those proceeds to repay higher-cost parent-level debt and to increase focus on its core freight rail operations. On deleveraging, Nicholson said the company expects to reduce parent debt by “at least $300 million” and lower parent-level interest expense by about $30 million per year.