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FTAI Infrastructure Incorporation (FIP)
NASDAQ:FIP
Earnings Data
Report Date
May 13, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.34Last Year’s EPS
0.89Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational momentum and meaningful financial improvement: record quarterly adjusted EBITDA, substantial full-year EBITDA growth (+82% YoY), an end-of-year run-rate exceeding $320M, successful integration start of the Wheeling acquisition with significant early revenue and EBITDA upside, Jefferson ramp with new long-term ammonia contract and multiple high-probability commercial opportunities, progress on Repauno permitting and construction, and a refinancing that provides a path to deleveraging. Challenges include recent Long Ridge outages with a modest EBITDA hit (~$3.5M), some timing uncertainty for Repauno Phase 2 commissioning (guidance leaning to early 2027), elevated parent-level leverage with a 9.75% term loan, and dependence on the successful monetization of Long Ridge to materially improve the capital structure. Overall, the positives materially outweigh the negatives with clear plans to address leverage and to capture incremental growth.Company Guidance
Record Quarterly and Strong Annual Adjusted EBITDA
Adjusted EBITDA for Q4 was $80,200,000, a new quarterly record (up from $70,900,000 in the prior quarter, +13.1% QoQ) and up sharply vs. $29,200,000 in the comparable prior-year quarter (+174.7% YoY). Full-year 2025 adjusted EBITDA was $232,300,000, up from $127,600,000 in fiscal 2024 (+82%).
Year-End EBITDA Run-Rate Acceleration
Management exited the year at an EBITDA run-rate of just over $320,000,000 annually — materially above reported annual results — reflecting contributions from late-year transactions and new contracts.
Rail Segment Outperformance — Wheeling Integration
Rail segment Q4 adjusted EBITDA was $41,300,000 (total Rail revenue $86,400,000). Wheeling delivered strong early results: Q4 revenue $43,000,000 (+8% YoY) and Wheeling adjusted EBITDA $19,300,000 (+34% YoY). Transstar contributed $22,000,000 of Q4 EBITDA. Integration has already realized $10,000,000 of annualized cost savings with an additional $10,000,000 in process (50% implemented toward a $20,000,000 target). Management estimates >$50,000,000 of incremental future EBITDA from new revenue opportunities on the combined rail system.
Long Ridge Operational Momentum and Development Opportunities
Long Ridge set a new record for gas production at ~105,000 MMBtu/day in Q4 (well above the ~70,000 MMBtu/day plant requirement), and Q4 EBITDA was $36,200,000 (slightly up from $35,700,000 in Q3, +1.4% QoQ). Management is advancing a 20 MW generation upgrade (projected incremental $5M–$10M annual EBITDA) and pursuing land monetization and data center / PPA opportunities that could materially enhance value and support a planned monetization process.
Jefferson Terminal Ramp and Commercial Pipeline
Jefferson reported Q4 revenue of $23,500,000 (+11.4% QoQ vs $21,100,000) and adjusted EBITDA of $13,600,000 (vs $11,000,000 in Q3, +23.6% QoQ). The new 15-year ammonia export contract began in late November (one month of impact in Q4) and management is in advanced talks on three additional contracts that together could represent >$50,000,000 of incremental annual EBITDA with little to no incremental CapEx.
Repauno Phase Progress and Phase 3 Permitting
Phase 2 construction is progressing on plan; combined Phase 1 and Phase 2 capacity is expected to handle just over 80,000 barrels per day, representing ~ $80,000,000 of annual EBITDA at full utilization. Management secured permits for Phase 3 (two caverns, each 640,000 barrels) and is advancing commercial planning and construction preparation.
Refinancing to Stabilize Parent Capital Structure
Closed a new ~$1.3 billion term loan to repay the bridge used for the Wheeling acquisition; this is the only parent-level debt and carries a 9.75% coupon. The loan is prepayable with a declining premium and management expects proceeds from a potential Long Ridge sale may be used to repay at a lower premium, creating a path to meaningful deleveraging and improved free cash flow.
Non-Core Investment Upside (Clean Planet Energy)
Management executed an exchange that produced a ~$9,000,000 write-up of the Clean Planet Energy holding (excluded from adjusted EBITDA as non-recurring). Management expects Clean Planet to begin contributing regular EBITDA starting in 2027 as facilities under construction/advanced development come online.
FIP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FIP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $6.44 | $5.80 | -9.86% |
Oct 30, 2025 | $5.07 | $5.30 | +4.54% |
Aug 07, 2025 | $6.16 | $4.92 | -20.13% |
May 08, 2025 | $4.57 | $4.52 | -1.09% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does FTAI Infrastructure Incorporation (FIP) report earnings?
FTAI Infrastructure Incorporation (FIP) is schdueled to report earning on May 13, 2026, After Close (Confirmed).
What is FTAI Infrastructure Incorporation (FIP) earnings time?
FTAI Infrastructure Incorporation (FIP) earnings time is at May 13, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FIP EPS forecast?
FIP EPS forecast for the fiscal quarter 2026 (Q1) is -0.34.