Ferrovial publishes Q3 2026 earnings call transcript
FER•Ferrovial said it ruled out a corporate equity raise for I-24 and I-285 East, while major equity injections are expected mainly in 2033–2035. I-285 East Phase 1 has a proposed USD 23.1 billion concession payment, and JFK New Terminal One targets an initial opening in March 2027.
1. Project financing and timelines
Ferrovial management ruled out a corporate equity raise for I-24 and I-285 East, saying major equity injections fall mainly in 2033–2035. I-24 concession payments total USD 21 billion in present value, with separate revenue-sharing mechanisms above defined performance thresholds. I-285 East Phase 1 carries a proposed USD 23.1 billion concession payment, with financial close due in October 2027 and opening expected in 2034.
2. JFK terminal plans
JFK New Terminal One cannot distribute dividends until June 2033. Its initial opening remains targeted for March 2027, subject to contractor execution.
