FTAI Aviation (FTAI) Q2 2024 Earnings

No. FTAI Aviation reported Q2 2024 earnings of $-2.26 a share on Jul 23, 2024, missing the $0.32 consensus estimate by 806.3%. Revenue was $443.6M against a $362.2M estimate.

FTAI Aviation posted a headline GAAP loss of $2.26 per diluted share in Q2 2024, a sharp reversal from earnings of $0.46 per share a year ago, as a one-time $300.00 million internalization fee paid to an affiliate overwhelmed otherwise strong operational results. Total revenue climbed to $443.59 million from $274.35 million in Q2 2023, driven largely by Aerospace Products, where revenue more than doubled to $245.20 million from $92.72 million. Beneath the GAAP headline, adjusted EBITDA rose to $213.90 million from $153.08 million, reflecting broad-based growth across the business. The company's Module Factory now counts more than 50 active customers globally, and V2500 engine activity remained a key growth driver, with FTAI having inducted 20 engines through the first half of the year and expecting to induct an additional 30 before year end. Net debt stood at $3.08 billion as of June 30, 2024, up from $2.52 billion at year-end 2023, while the board maintained its quarterly dividend of $0.30 per ordinary share.