Key Points – Q2 performance improved significantly: Adjusted EBITDA rose to $76.1 million from $45.9 million year over year, while EBITDA excluding Long Ridge reached a record $48.7 million. – Long Ridge sale is expected by the end of Q3: The transaction would eliminate…
proximately $1.4 billion of debt and reduce annual parent-level debt service by about $25 million, freeing capital for investments—particularly in freight rail. – Rail and terminal growth continued: The rail segment posted record results, acquired Tidewater Logistics for $45 million, and expects roughly $9 million of annual EBITDA from the deal. Jefferson delivered record refined-products and ammonia volumes, while Repauno’s second phase remains on track for completion by year-end and revenue service in early 2027
FTAI Infrastructure (NASDAQ:FIP) reported second-quarter adjusted EBITDA of $76.1 million, compared with $45.9 million in the prior-year period, as the company advanced plans to sell its Long Ridge energy asset, expanded its rail platform and continued development work at its terminal operations. Excluding Long Ridge, which is now accounted for as an asset held for sale, adjusted EBITDA was a quarterly record of $48.7 million, equating to an annualized run rate of just under $200 million, Chief Executive Officer Ken Nicholson said on the company’s second-quarter earnings call. “We made good progress” during the quarter on the company’s three priorities for 2026: selling Long Ridge and reducing debt, growing the railroad portfolio, and preparing the Jefferson and Repauno terminals for potential monetizations next year, Nicholson said. Long Ridge Sale Expected by End of Third Quarter FTAI Infrastructure announced the sale of Long Ridge in late April and currently expects the transaction to close by the end of the third quarter, according to Nicholson.
The sale is expected to eliminate roughly $1.4 billion of debt, including more than $1.1 billion at the Long Ridge level and about $300…