Fortress Transportation and Infrastructure Investors LLC (FTAI) Q4 2019 Earnings Call Transcript

Fortress Transportation and Infrastructure Investors LLC (FTAI) Q4 2019 Earnings Call Transcript

Fortress Transportation and Infrastructure Investors LLC ( NYSE:FTAI ) Q4 2019 Earnings Call Feb 28, 2020 , 8:00 a.m. ET. I would like to welcome everyone to the Fourth Quarter and Year End Fortress Transportation Infrastructure Investors Conference Call.. I would like to welcome you all to the Fortress Transportation and Infrastructure fourth quarter and year-end 2019 earnings call.. Joining me today are Joe Adams, our Chief Executive Officer and Scott Christopher, our Chief Financial Officer.. , we will be discussing some non-GAAP financial measures during the call today, including FAD.. Before I turn the call over to Joe, I would like to point out that certain statements made today will be forward-looking statements, including regarding future earnings.. Infrastructure business FAD included $94.1 million from discontinued operations, resulting from the sale of CMQR rail assets during the quarter.. For the fourth quarter 2019, annualized adjusted EBITDA excluding asset sale gains was $431 million, up from $359 million in Q3 2019 and $291 million in Q4 of 2018.. Including gains from asset sales of $21 million in Q4 2019, $37 million in Q3 of 2019 and a loss of $1 million in Q4 of 2018, adjusted EBITDA from aviation