DivestmentAug 10, 2026, 04:10 PM
FTAI Infrastructure to Sell Long Ridge for $1.52B
AI Summary
FTAI Infrastructure Inc. announced the proposed sale of Long Ridge Energy & Power LLC for a base purchase price of $1.52 billion, with the asset now classified as held-for-sale. The company reported a net loss attributable to common stockholders of $(166.5) million for Q2 2026 and $(321.0) million for the first half of 2026, despite a 52.7% increase in Q2 revenues to $186.8 million. Management expects the Long Ridge sale to improve liquidity and reduce debt, but noted that current liquidity is insufficient to satisfy the Jefferson Bridge Loan Credit Agreement, requiring refinancing.
Key Highlights
- FTAI Infrastructure to sell Long Ridge Energy & Power LLC for $1.52 billion.
- Q2 2026 net loss attributable to common stockholders was $(166.5) million.
- H1 2026 net loss attributable to common stockholders was $(321.0) million.
- Total revenues for Q2 2026 increased 52.7% to $186.8 million.
- Asset impairment of $63.2 million recorded for held-for-sale assets.
- Net cash used in operating activities was $(30.3) million for H1 2026.
- Current debt, net, increased to $476.8 million from $65.4 million.
- Company faces liquidity concerns regarding Jefferson Bridge Loan Credit Agreement.
Price Impact
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