Filing Flows › FTAI Infrastructure (FIP) › Q3 2025
FTAI Infrastructure (FIP) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 31, 2025
FTAI Infrastructure (FIP) reported revenue of $141M for the third quarter 2025 (Q3 2025), +69% from a year earlier and +15% from the quarter before. Operating margin was 14.6%, net loss $105M (74.4% of revenue).
FTAI Infrastructure, Q3 2025: revenue $141M (+69% year over year), operating margin 14.6%, net loss $105M, operating cash flow −$24.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $141M | +15% | +69% |
| Operating profit | $20.6M | — | — |
| Net earnings | −$105M | — | — |
| Operating cash flow | −$24.4M | — | — |
What changed
Revenue was $140.6M in Q3 2025, up 69% year over year and up 15% from the previous quarter. Power Revenues was the largest line at 40% of revenue. Terminal services revenues added $824K year over year (up 4%), 1% of the total change. Lease income declined 8%.
Operating profit was $20.6M, a 14.6% margin (up 23.3 points year over year). Total costs grew 32% against revenue growth of 69%. The fastest-growing cost line was Other operating costs (+33%). The quarter ended with a net loss of $104.5M, wider than the previous quarter's $70.0M loss. Net interest and other expense of $120.0M was the main reason.
Operating cash flow was −$24.4M. Non-cash charges added back $34.8M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items added $43.8M. Capital expenditures of $66.3M exceeded it, leaving free cash flow of −$90.7M.
Questions
What was FTAI Infrastructure's revenue in the third quarter 2025?
FTAI Infrastructure (FIP) reported revenue of $141M for the third quarter 2025 (Q3 2025), +69% from a year earlier and +15% from the quarter before.
Was FTAI Infrastructure profitable in the third quarter 2025?
Operating profit was $20.6M (14.6% of revenue) and net loss $105M.