FTAI Infrastructure reported record third-quarter revenue and adjusted EBITDA, and expects to close its approved Long Ridge sale by month-end to use most proceeds to repay debt. Selling Long Ridge gives up an asset, but record rail results and lower expected interest costs point to a brighter outlook.
Lower debt would reduce interest costs after the sale closes. Record rail activity and management’s expected growth add support. Selling Long Ridge gives up an asset, and planned terminal improvements have not yet shown results. The rail results and planned debt repayment are the clearest positive signs.
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