Fortress Transportation (FTAI) Reports Q1 EPS of $0.10

Fortress Transportation (NYSE: FTAI) reported Q1 EPS of $0.10, versus $0.03 reported last year. Revenue for the quarter came in at $33.97 million, versus $7.7 million reported last year.

Initial Public Offering

On May 20, 2015, FTAI closed its initial public offering of 20,000,000 common shares. The total gross proceeds of the offering were approximately $340 million. Of the proceeds, approximately $21.25 million was used to pay underwriting discounts and commissions. The Company intends to use the net proceeds from the offering, together with other sources of capital and liquidity, for the acquisition of infrastructure and equipment assets in its target sectors—aviation, energy, intermodal transport and rail—as well as to opportunistically acquire assets across the transportation and transportation-related infrastructure markets. In addition, the Company intends to use the net proceeds for follow-on investments in existing assets, working capital and other general corporate purposes.

For earnings history and earnings-related data on Fortress Transportation (FTAI) click here.

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