Companies /Industrials

FTAI Aviation Ltd - Class A

NASDAQ: FTAI Aerospace & Defense
$198.34
▼ $2.93 (−1.45%) today
Markets open · 2:14pm ET

Q3 2024 Earnings

Reported Oct 30, 2024, 4:16pm ET · SEC source
$0.76
Miss −1.30%
EPS · est. $0.77
$465.8M
Beat +10.26%
Revenue · est. $422.5M
+13.7%
Beating market
FTAI vs S&P since report
4 quarters
Consecutive EPS misses

Market Reaction

% change · around the report
−12%−8%−4%0Oct 30Oct 31report 4:16pm ETearnings−1.8%−7.2%
−12%−8%−4%0Oct 30Oct 31earnings−1.8%−7.2%
FTAI −7.2%S&P 500 −1.8%
−12%−8%−4%0Oct 30Oct 31report 4:16pm ETearnings−2.2%−7.2%
−12%−8%−4%0Oct 30Oct 31earnings−2.2%−7.2%
FTAI −7.2%NASDAQ −2.2%
−10%−5%0+5%Oct 29Nov 7report 4:16pm ETearnings+2.8%+4.0%
−10%−5%0+5%Oct 29Nov 7earnings+2.8%+4.0%
FTAI +4.0%S&P 500 +2.8%
−10%−5%0+5%Oct 29Nov 7report 4:16pm ETearnings+3.5%+4.0%
−10%−5%0+5%Oct 29Nov 7earnings+3.5%+4.0%
FTAI +4.0%NASDAQ +3.5%
−7.47%
Day of report
+5.97%
Next session
+11.59%
One week
+19.92%
30 days

S&P 500 over the same 30 days: +6.20%.

Did FTAI Beat Earnings? Q3 2024 Results

FTAI Aviation delivered a mixed but broadly strong third quarter, with revenue well ahead of expectations even as earnings came in just shy of estimates. The company posted revenue of $465.79 million for Q3 2024, a 58.0% jump from $291.10 million a year earlier and comfortably ahead of the $422.45 million consensus, representing a 10.26% beat. Earnings per diluted share came in at $0.76, fractionally below the $0.77 analyst estimate by 1.30%. The headline driver behind the revenue strength was a near-tripling of Aerospace Products revenue, which climbed to $303.47 million from $118.67 million in the year-ago period, fueled by the company's expanding Module Factory operations and PMA joint venture. Adjusted EBITDA grew to $232.03 million from $154.22 million, while net income attributable to shareholders more than doubled to $78.15 million versus $32.97 million in Q3 2023. The board declared a quarterly dividend of $0.30 per ordinary share, payable November 25, 2024.

Key Takeaways
  • Aerospace Products revenue more than doubled year-over-year to $303.5 million
  • Aerospace Products Adjusted EBITDA exceeded $100 million
  • Lease income grew to $65.5 million from $45.6 million year-over-year
  • Adjusted EBITDA increased to $232.0 million from $154.2 million year-over-year

FTAI YoY Financials

Q3 2024 vs Q3 2023 · SEC filings Q3 2023 Q3 2024
$0$200.0M$400.0M$294.8M$465.8MRevenue$102.1M$246.3MGross Profit$88.9M$91.3MOperating Income$41.3M$86.5MNet Income
$0$200.0M$400.0MRevenueGross ProfitOperating IncomeNet Income

FTAI Revenue by Segment

Aerospace Products$303.5M
MRE Contract Revenue
Aviation Leasing
Aviation Leasing - Maintenance Revenue
Lease Income$65.5M
Aviation Leasing - Lease Income
Maintenance Revenue$59.9M
Aviation Leasing - Asset Sales Revenue

Figures from SEC filings and company reports. Not investment advice.