What caused FIP's earnings decline in 2024?

The earnings of FTAI Infrastructure Inc. (FIP) declined in 2024 primarily due to several operational and financial challenges within its segments:

1. **Significant Expenses**: FTAI Infrastructure reported substantial expenses, including operating expenses of $62.77 million and interest expenses of $31.51 million, which significantly contributed to the net loss.
2. **Equity in Losses of Unconsolidated Entities**: The increase in net loss was attributed to higher equity in losses of unconsolidated entities and increased asset impairment charges.
3. **Scheduled Maintenance Outages**: Long Ridge's revenue was impacted by a scheduled maintenance outage in May, which temporarily affected its operational efficiency and revenue generation.

In summary, FTAI Infrastructure's earnings decline in 2024 was primarily caused by significant expenses, equity in losses of unconsolidated entities, asset impairment charges, and the impact of scheduled maintenance outages on its operations.