NEW YORK (AP) _ Fortress Transportation and Infrastructure Investors LLC (FTAI) on Thursday reported a second-quarter loss of $15.7 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 18 cents per share. Losses, adjusted for asset impairment costs, were 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The transportation infrastructure company posted revenue of $94.3 million in the period.
Fortress Transportation shares have declined 23% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.10, a rise of slightly more than 1% in the last 12 months.