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Fortress Transportation: 4Q Earnings Snapshot – San Francisco Chronicle


NEW YORK (AP) _ Fortress Transportation and Infrastructure Investors LLC (FTAI) on Thursday reported a fourth-quarter loss of $55.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of 70 cents. Losses, adjusted for asset impairment costs, were 52 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.

The transportation infrastructure company posted revenue of $75.6 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $92.1 million.

For the year, the company reported a loss of $87.2 million, or $1.22 per share, swinging to a loss in the period. Revenue was reported as $366.5 million.

Fortress Transportation shares have climbed 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.83, a rise of 36% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTAI at https://www.zacks.com/ap/FTAI



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