FTAI Aviation Ltd - Class A

FTAI Aviation delivered a sharp earnings turnaround in the third quarter of 2023, posting diluted EPS of $0.33 from continuing operations compared to a loss of $0.11 in the year-ago period, while total revenues climbed to $291.10 million from $230.37 million a year earlier. The company swung to GAAP net income of $32.97 million, reversing a net loss of $22.85 million in Q3 2022, as its Aerospace Products segment emerged as the quarter's clearest growth engine. That business nearly doubled its revenue to $107.08 million from $53.40 million in the prior-year period, selling 41 modules to 11 customers and generating $40.60 million in Adjusted EBITDA at a 38% margin. Companywide Adjusted EBITDA reached $154.22 million, up from $108.86 million a year ago, reflecting broad operating improvement across the portfolio. FTAI also closed on 23 engines and 10 aircraft during the quarter, pushing leasing equipment on the balance sheet to $1.92 billion, while the board declared a quarterly dividend of $0.30 per ordinary share.