Filing Flows › FTAI Infrastructure (FIP) › Q3 2026
FTAI Infrastructure (FIP) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
FTAI Infrastructure (FIP) reported revenue of $219M for the third quarter 2026 (Q3 2026), +56% from a year earlier and +17% from the quarter before. Operating margin was 9.0%, net loss $123M (56.2% of revenue).
FTAI Infrastructure, Q3 2026: revenue $219M (+56% year over year), operating margin 9.0%, net loss $123M, operating cash flow $22.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $219M | +17% | +56% |
| Operating profit | $19.7M | — | -4% |
| Net earnings | −$123M | — | — |
| Operating cash flow | $22.0M | -44% | — |
What changed
Revenue was $219.0M in Q3 2026, up 56% year over year and up 17% from the previous quarter. Rail revenues was the largest line at 43% of revenue. Rail revenues added $51.9M year over year (up 121%), 66% of the total change.
Operating profit was $19.7M, a 9.0% margin (down 5.6 points year over year). Operating profit fell $877K even though revenue rose $78.4M versus Q3 2025, so costs grew faster than sales. Total costs grew 66% against revenue growth of 56%. The fastest-growing cost line was Other operating costs (+67%). The quarter ended with a net loss of $123.1M, narrower than the previous quarter's $139.4M loss. Net interest and other expense of $140.6M was the main reason.
Operating cash flow was $22.0M. Non-cash charges added back $35.3M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items added $106.1M. Capital expenditures of $85.4M exceeded it, leaving free cash flow of −$63.4M.
Questions
What was FTAI Infrastructure's revenue in the third quarter 2026?
FTAI Infrastructure (FIP) reported revenue of $219M for the third quarter 2026 (Q3 2026), +56% from a year earlier and +17% from the quarter before.
Was FTAI Infrastructure profitable in the third quarter 2026?
Operating profit was $19.7M (9.0% of revenue) and net loss $123M.