FTAI Infrastructure to Sell Long Ridge for $1.52B, Reports $70.6M Q1 EBITDA
FIP•FTAI Infrastructure agreed to sell its Long Ridge power plant to MARA Holdings for $1.52 billion, eliminating $1.16 billion of debt and enabling $300 million of parent‐level debt repayment. The company posted $70.6 million of Q1 2026 Adjusted EBITDA and said results excluding a 25-day outage would exceed $80 million.
1. Long Ridge Sale Agreement
On April 30, FTAI Infrastructure entered into a definitive agreement to sell its Long Ridge power plant to MARA Holdings in a $1.52 billion transaction. The deal will eliminate $1.16 billion of Long Ridge debt and allow repayment of about $300 million of parent‐level obligations, reducing interest expense.
2. Q1 2026 Financial Highlights
The company generated $70.6 million of Adjusted EBITDA in the first quarter. A 25-day planned outage at Long Ridge reduced segment results; excluding the outage, EBITDA would have surpassed $80 million, marking a new quarterly record. Contributions from the rail segment and the Jefferson facility supported performance.
3. Dividend Declaration and Growth Projects
The board declared a $0.03 per share dividend for Q1 2026, payable June 12. Expansion of the Repauno phase two terminal remains on schedule for early 2027 operation, positioning the company for future earnings growth.
