|
|
|
(State or Other Jurisdiction of Incorporation)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Title of each class:
|
Trading
Symbol(s):
|
Name of each exchange on which registered:
|
|
|
|
|
|
|
|
|
|
Item 2.02 |
Results of Operations and Financial Condition
|
(in thousands)
|
Three Months Ended
June 30, 2020
|
Three Months Ended
June 30, 2020
|
Six Months Ended
June 30, 2020
|
Six Months Ended
June 30, 2020
|
||||||||||||
Low
|
High
|
Low
|
High
|
|||||||||||||
Total revenues
|
$
|
92,159
|
$
|
96,459
|
$
|
204,999
|
$
|
209,299
|
||||||||
Net loss attributable to shareholders from continuing operations
|
$
|
(17,845
|
)
|
$
|
(13,545
|
)
|
$
|
(22,039
|
)
|
$
|
(17,739
|
)
|
||||
Add: Provision for income taxes
|
(3,750
|
)
|
(3,750
|
)
|
(3,848
|
)
|
(3,848
|
)
|
||||||||
Add: Equity-based compensation expense
|
411
|
411
|
702
|
702
|
||||||||||||
Add: Acquisition and transaction expenses
|
3,661
|
3,661
|
6,855
|
6,855
|
||||||||||||
Add: Losses on the modification or extinguishment of debt and capital lease obligations
|
-
|
-
|
4,724
|
4,724
|
||||||||||||
Add: Changes in fair value of non-hedge derivative instruments
|
-
|
-
|
181
|
181
|
||||||||||||
Add: Asset impairment charges
|
10,476
|
10,476
|
10,476
|
10,476
|
||||||||||||
Add: Incentive allocations
|
-
|
-
|
-
|
-
|
||||||||||||
Add: Depreciation and amortization expense (1)
|
48,341
|
48,341
|
97,405
|
97,405
|
||||||||||||
Add: Interest expense
|
21,794
|
21,794
|
44,655
|
44,655
|
||||||||||||
Add: Pro-rata share of Adjusted EBITDA from unconsolidated entities (2)
|
126
|
126
|
(287
|
)
|
(287
|
)
|
||||||||||
Less: Equity in losses of unconsolidated entities
|
3,209
|
3,209
|
2,944
|
2,944
|
||||||||||||
Less: Non-controlling share of Adjusted EBITDA (3)
|
(2,101
|
)
|
(2,101
|
)
|
(5,451
|
)
|
(5,451
|
)
|
||||||||
Adjusted EBITDA (non-GAAP)
|
$
|
64,322
|
$
|
68,622
|
$
|
136,317
|
$
|
140,617
|
FORTRESS TRANSPORTATION AND
INFRASTRUCTURE INVESTORS LLC
|
||
By:
|
/s/ Scott Christopher
|
|
Name:
|
Scott Christopher
|
|
Title:
|
Chief Financial Officer
|
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