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FTAI Aviation(FTAI) - 2024 Q3 - Quarterly Results
FTAIFTAI Aviation(FTAI)2024-10-30 20:16

Financial Performance - Net Income Attributable to Shareholders for Q3 2024 was 78.1million,withBasicandDilutedEarningsperOrdinaryShareat78.1 million, with Basic and Diluted Earnings per Ordinary Share at 0.76[1] - Adjusted EBITDA for Q3 2024 reached 232.0million[1]−TotalRevenuesforQ32024were232.0 million[1] - Total Revenues for Q3 2024 were 465.8 million, a significant increase from 291.1millioninQ32023[11]−AdjustedEBITDAforQ32024was291.1 million in Q3 2023[11] - Adjusted EBITDA for Q3 2024 was 232,030, a 77,812increasecomparedto77,812 increase compared to 154,218 in Q3 2023[16] - Net income attributable to shareholders for Q3 2024 was 78,147,up78,147, up 45,174 from 32,973inQ32023[16]−AdjustedEBITDAfortheninemonthsendedSeptember30,2024,was32,973 in Q3 2023[16] - Adjusted EBITDA for the nine months ended September 30, 2024, was 610,035, a 175,084increasefrom175,084 increase from 434,951 in the same period in 2023[16] Aerospace Products Segment - Aerospace Products segment reported over 100millioninAdjustedEBITDA[4]−AerospaceProductsRevenueforQ32024was100 million in Adjusted EBITDA[4] - Aerospace Products Revenue for Q3 2024 was 303.5 million, up from 118.7millioninQ32023[11]BalanceSheetandFinancialPosition−TotalAssetsasofSeptember30,2024,were118.7 million in Q3 2023[11] Balance Sheet and Financial Position - Total Assets as of September 30, 2024, were 3.74 billion, compared to 2.96billionasofDecember31,2023[12]−Debt,netasofSeptember30,2024,stoodat2.96 billion as of December 31, 2023[12] - Debt, net as of September 30, 2024, stood at 3.22 billion, up from 2.52billionasofDecember31,2023[12]−CashandCashEquivalentsasofSeptember30,2024,were2.52 billion as of December 31, 2023[12] - Cash and Cash Equivalents as of September 30, 2024, were 111.9 million, compared to 90.8millionasofDecember31,2023[12]−Shareholders′equitydecreasedto90.8 million as of December 31, 2023[12] - Shareholders' equity decreased to 118,532 from 175,349,reflectingasignificantreductioninequity[13]−Totalliabilitiesandequityincreasedto175,349, reflecting a significant reduction in equity[13] - Total liabilities and equity increased to 3,738,910 from 2,964,685,indicatinggrowthinthecompany′sfinancialobligations[13]DividendsandShareholderReturns−Thecompanydeclaredacashdividendof2,964,685, indicating growth in the company's financial obligations[13] Dividends and Shareholder Returns - The company declared a cash dividend of 0.30 per ordinary share for Q3 2024[2] - Dividends on Series B, C, and D Preferred Shares were declared at 0.50000,0.50000, 0.51563, and 0.59375pershare,respectively,forQ32024[3]ExpensesandCharges−DepreciationandamortizationexpenseforQ32024was0.59375 per share, respectively, for Q3 2024[3] Expenses and Charges - Depreciation and amortization expense for Q3 2024 was 69,453, a 10,073increasefrom10,073 increase from 59,380 in Q3 2023[16] - Interest expense and dividends on preferred shares rose to 66,272inQ32024,up66,272 in Q3 2024, up 17,753 from 48,519inQ32023[16]−AssetimpairmentchargesfortheninemonthsendedSeptember30,2024,were48,519 in Q3 2023[16] - Asset impairment charges for the nine months ended September 30, 2024, were 962, a 258decreasefrom258 decrease from 1,220 in the same period in 2023[16] Other Financial Metrics - Internalization fee to affiliate contributed 300,000toAdjustedEBITDAfortheninemonthsendedSeptember30,2024[16]−Pro−ratashareofAdjustedEBITDAfromunconsolidatedentitieswas300,000 to Adjusted EBITDA for the nine months ended September 30, 2024[16] - Pro-rata share of Adjusted EBITDA from unconsolidated entities was (382) in Q3 2024, compared to $642 in Q3 2023[16]