Fortress Transportation: 1Q Earnings Snapshot

NEW YORK (AP) _ Fortress Transportation and Infrastructure Investors LLC (FTAI) on Thursday reported a loss of $2.9 million in its first quarter.

The New York-based company said it had a loss of 3 cents per share. Earnings, adjusted for one-time gains and costs, were less than 1 cent on a per-share basis.

The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The transportation infrastructure company posted revenue of $112.8 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $139.9 million.

Fortress Transportation shares have declined 40% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.69, a decline of 29% 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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