NEW YORK (AP) _ Fortress Transportation and Infrastructure Investors LLC (FTAI) on Wednesday reported a loss of $30 million in its second quarter.
On a per-share basis, the New York-based company said it had a loss of 42 cents. Losses, adjusted to extinguish debt, were 38 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
The transportation infrastructure company posted revenue of $96.9 million in the period.
Fortress Transportation shares have increased 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.34, more than doubling in the last 12 months.
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