Filing Flows › FTAI Infrastructure (FIP) › Q2 2025
FTAI Infrastructure (FIP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 15, 2025
FTAI Infrastructure (FIP) reported revenue of $122M for the second quarter 2025 (Q2 2025), +44% from a year earlier and +27% from the quarter before. Operating margin was -5.6%, net loss $70.0M (57.2% of revenue).
FTAI Infrastructure, Q2 2025: revenue $122M (+44% year over year), operating margin -5.6%, net loss $70.0M, operating cash flow −$5.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $122M | +27% | +44% |
| Operating profit | −$6.8M | — | — |
| Net earnings | −$70.0M | -158% | — |
| Operating cash flow | −$5.2M | — | — |
What changed
Revenue was $122.3M in Q2 2025, up 44% year over year and up 27% from the previous quarter. Rail revenues was the largest line at 35% of revenue. Lease income added $62K year over year (up 5%), 0% of the total change. Rail revenues declined 7%.
Operating costs exceeded revenue by $6.8M, an operating margin of -5.6%. Total costs grew 47% against revenue growth of 44%. The fastest-growing cost line was Other operating costs (+47%). The quarter ended with a net loss of $70.0M, after a profit of $120.2M the previous quarter. Net interest and other expense of $62.2M was the main reason.
Operating cash flow was −$5.2M. Non-cash charges added back $34.0M of depreciation and amortization and $910K of share-based compensation. Working capital and other items added $29.8M. Capital expenditures of $81.8M exceeded it, leaving free cash flow of −$87.0M.
Questions
What was FTAI Infrastructure's revenue in the second quarter 2025?
FTAI Infrastructure (FIP) reported revenue of $122M for the second quarter 2025 (Q2 2025), +44% from a year earlier and +27% from the quarter before.
Was FTAI Infrastructure profitable in the second quarter 2025?
Operating loss was $6.8M (-5.6% of revenue) and net loss $70.0M.