Long Ridge energy terminal returns to full operations but expects Q4 2022 operating loss

FTAI Infrastructure Inc.

50.1%-owned Long Ridge power plant returned to full operational status at end of Q4 2022 after extended outage for gas turbine repair.
Turbine damage discovered during planned maintenance; caused by construction debris left in air intake prior to commissioning.
Long Ridge expects to report an operating loss for Q4 2022 due to revenue interruption from the outage.
All repair costs expected to be covered under warranty; management views it as one-time event.
CEO says outage won't affect long-term revenue and profitability; sees upside in incremental gas production and developments.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FTAI Infrastructure Inc. reported preliminary financial results for the fourth quarter ended December 31, 2022.

Period: the fourth quarter ended December 31, 2022
Result: preliminary results

Exact text from the filing

Long Ridge expects to report an operating loss for the fourth quarter ended December 31, 2022.

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Source: SEC EDGAR

accession 0001140361-23-002576

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