FTAI AVIATION(FTAIM) - 2024 Q3 - Quarterly Results

Financial Performance - FTAI Aviation Ltd. reported a net income attributable to shareholders of $78,147,000 for Q3 2024, compared to$32,973,000 in Q3 2023, representing a 137% increase year-over-year[2] - Total revenues for Q3 2024 were $465,794,000, a 60$291,096,000 in Q3 2023[14] - Aerospace products revenue surged to $303,469,000 in Q3 2024, compared to$118,675,000 in Q3 2023, reflecting a 156% increase[14] - Net income attributable to shareholders for Q3 2024 was $78,147, compared to$32,973 in Q3 2023, representing a change of $45,174[19] - For the nine months ended September 30, 2024, net income was$(118,771), a decrease of $220,768 compared to$101,997 in the same period of 2023[19] Adjusted EBITDA - The company achieved an Adjusted EBITDA of $232,030,000 in Q3 2024, with over$100 million generated from Aerospace Products[6][2] - Adjusted EBITDA for Q3 2024 was $232,030, an increase of$77,812 from $154,218 in Q3 2023[19] - Nine-month Adjusted EBITDA rose to$610,035, up $175,084 from$434,951 in the prior year[19] Asset and Liability Management - FTAI's total assets increased to $3,738,910,000 as of September 30, 2024, up from$2,964,685,000 at the end of 2023[16] - The company's total liabilities rose to $3,620,378,000 as of September 30, 2024, compared to$2,788,802,000 at the end of 2023[16] - Cash and cash equivalents increased to $111,888,000 as of September 30, 2024, from$90,756,000 at the end of 2023[16] - FTAI's accumulated deficit grew to $(175,551,000) as of September 30, 2024, compared to$(81,785,000) at the end of 2023[16] Income and Expense Analysis - Lease income increased to $65,450,000 in Q3 2024, up from$45,622,000 in Q3 2023, marking a 43% growth[14] - Depreciation and amortization expense for Q3 2024 was $69,453, an increase of$10,073 from $59,380 in Q3 2023[19] - Interest expense and dividends on preferred shares for Q3 2024 totaled$66,272, up $17,753 from$48,519 in Q3 2023[19] - Acquisition and transaction expenses for Q3 2024 were $9,341, an increase of$5,080 from $4,261 in Q3 2023[19] - Equity-based compensation expense for Q3 2024 was$1,430, compared to $510 in Q3 2023, reflecting an increase of$920[19] - Asset impairment charges for Q3 2024 were $962, down$258 from $1,220 in Q3 2023[19] Dividends - The company declared a cash dividend of$0.30 per ordinary share for the quarter ended September 30, 2024[3]