FTAI Aviation Ltd - Class A
Q4 2024 Earnings
Market Reaction
S&P 500 over the same 30 days: −6.54%.
Did FTAI Beat Earnings? Q4 2024 Results
FTAI Aviation delivered a mixed fourth quarter, falling short of Wall Street expectations on both the top and bottom lines as revenue of $498.82 million, up 57.6% year over year, came in 3.52% below the $517.02 million consensus, while diluted EPS of $0.84 missed the $0.87 estimate by 3.85%. The headline shortfall, however, obscured genuine operational momentum; Adjusted EBITDA climbed 55% to $252.01 million in the quarter, powered largely by the Aerospace Products segment, which more than doubled its full-year Adjusted EBITDA to $380.64 million. Net income attributable to shareholders declined to $86.69 million from $110.03 million a year ago, a comparison distorted by a $67.39 million tax benefit that had bolstered the prior-year figure. The results arrive amid heightened investor scrutiny following short-seller allegations of accounting irregularities, which the company's Audit Committee has characterized as groundless. Looking ahead, FTAI guided 2025 Adjusted EBITDA of approximately $1.10 to $1.15 billion and raised its 2026 target to $1.40 billion, underpinned by expanding maintenance capacity and the newly launched Strategic Capital Initiative.
- Aerospace Products segment net income up 92% YoY to $346 million for FY 2024
- Aerospace Products Adjusted EBITDA up 138% YoY for FY 2024
- Total revenue growth of 60% YoY in Q4 2024
- Expansion of Maintenance, Repair and Exchange capabilities
“In the last quarter, we delivered outstanding financial performance across the board, and I am pleased to see the continued strength of our Aerospace Products and Aviation Leasing segments. We significantly expanded our Maintenance, Repair and Exchange capabilities and added financial firepower and flexibility with the successful launch of our Strategic Capital Initiative. Looking ahead to 2025, we are confident in our ability to take advantage of the tremendous market opportunity in our Aerospace Products business and deliver strong returns for our shareholders.”
FTAI Aviation CEO, on the earnings call
Forward Guidance & Outlook
FTAI expects 2025 Adjusted EBITDA of approximately $1.1 to $1.15 billion from its reportable segments, comprised of approximately $500 million from Aviation Leasing and approximately $600 to $650 million from Aerospace Products. This guidance assumes an average of 100 modules per quarter produced at the Montréal facility, net Aerospace margins in line with or better than FY 2024, and 25 to 35 V2500 engine MRE transactions. The company targets approximately $650 million in 2025 adjusted free cash flow. FTAI increased its 2026 Adjusted EBITDA target to approximately $1.4 billion from the previously projected $1.25 billion, reflecting expected incremental upside from the Strategic Capital Initiative.
FTAI YoY Financials
FTAI Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.