Fri, May 16, 9:27 PM (35 days ago)
### Summary of FTAI Infrastructure Inc. (FIP) Q1 2025 Financial Performance **Revenue:** - **Total Revenue:** $96.2 million, up 17.2% from Q1 2024. - **Segment Performance:** - **Railroad:** $42.7 million, down 7.9%. - **Jefferson Terminal:** $19.4 million, up 4.5%. - **Repauno:** $3.8 million, down 6.6%. - **Power and Gas:** $17.3 million, new segment. - **Sustainability and Energy Transition:** $12.9 million, up 1.9%. **Expenses:** - **Total Expenses:** $104.6 million, up 11.9% from Q1 2024. - **Segment Performance:** - **Railroad:** $28.1 million, down 3.3%. - **Jefferson Terminal:** $29.3 million, down 6.8%. - **Repauno:** $9.5 million, up 9.4%. - **Power and Gas:** $13.5 million, new segment. - **Sustainability and Energy Transition:** $1.4 million, down 9.9%. **Net Income:** - **Net Income:** $120.2 million, up 339.5% from Q1 2024. - **Earnings per Share (EPS):** $0.95, up from $(0.54) in Q1 2024. **Cash Flow:** - **Operating Cash Flow:** $(85.7) million, down from $(3.9) million in Q1 2024. - **Investing Cash Flow:** $164.3 million, up from $(18.8) million in Q1 2024. - **Financing Cash Flow:** $(2.5) million, down from $(0.5) million in Q1 2024. **Key Metrics:** - **Adjusted EBITDA:** $155.2 million, up 571.6% from Q1 2024. - **Debt Obligations:** $2.8 billion in principal and $1.2 billion in interest payments due within the next twelve months. **Segment Performance Discussion:** - **Railroad:** Decreased revenues and expenses, stable Adjusted EBITDA. - **Jefferson Terminal:** Increased revenues and expenses, stable Adjusted EBITDA. - **Repauno:** Decreased revenues and increased expenses, slight increase in Adjusted EBITDA. - **Power and Gas:** New segment with significant revenue and expenses, substantial increase in Adjusted EBITDA. - **Sustainability and Energy Transition:** Decreased expenses, slight increase in Adjusted EBITDA. **Trends and Uncertainties:** - **Positive Trends:** Strong revenue growth in new segments, significant increase in net income and Adjusted EBITDA. - **Uncertainties:** High debt obligations, volatile cash flow from operations, and potential risks from economic conditions and regulatory changes. **Future Operations Impact:** - **Liquidity:** Management plans to accrue paid-in-kind dividends on Series A Preferred Stock, excluding the current common dividend. - **Debt and Financing:** Potential transactions and financings within the next 12 months, including increased debt capacity and refinancing options. **Conclusion:** FTAI Infrastructure Inc. (FIP) showed strong financial performance in Q1 2025, with significant revenue growth, increased net income, and substantial Adjusted EBITDA. However, the company faces challenges related to high debt obligations and volatile cash flow from operations. Management's strategic plans and potential future transactions will be crucial in maintaining liquidity and financial stability.