FTAI Aviation(FTAI) - 2024 Q3 - Quarterly Results

Financial Performance - Net Income Attributable to Shareholders for Q3 2024 was $78.1 million, with Basic and Diluted Earnings per Ordinary Share at $0.76[1] - Adjusted EBITDA for Q3 2024 reached $232.0 million[1] - Total Revenues for Q3 2024 were $465.8 million, a significant increase from $291.1 million in Q3 2023[11] - Adjusted EBITDA for Q3 2024 was $232,030, a $77,812 increase compared to $154,218 in Q3 2023[16] - Net income attributable to shareholders for Q3 2024 was $78,147, up $45,174 from $32,973 in Q3 2023[16] - Adjusted EBITDA for the nine months ended September 30, 2024, was $610,035, a $175,084 increase from $434,951 in the same period in 2023[16] Aerospace Products Segment - Aerospace Products segment reported over $100 million in Adjusted EBITDA[4] - Aerospace Products Revenue for Q3 2024 was $303.5 million, up from $118.7 million in Q3 2023[11] Balance Sheet and Financial Position - Total Assets as of September 30, 2024, were $3.74 billion, compared to $2.96 billion as of December 31, 2023[12] - Debt, net as of September 30, 2024, stood at $3.22 billion, up from $2.52 billion as of December 31, 2023[12] - Cash and Cash Equivalents as of September 30, 2024, were $111.9 million, compared to $90.8 million as of December 31, 2023[12] - Shareholders' equity decreased to $118,532 from $175,349, reflecting a significant reduction in equity[13] - Total liabilities and equity increased to $3,738,910 from $2,964,685, indicating growth in the company's financial obligations[13] Dividends and Shareholder Returns - The company declared a cash dividend of $0.30 per ordinary share for Q3 2024[2] - Dividends on Series B, C, and D Preferred Shares were declared at $0.50000, $0.51563, and $0.59375 per share, respectively, for Q3 2024[3] Expenses and Charges - Depreciation and amortization expense for Q3 2024 was $69,453, a $10,073 increase from $59,380 in Q3 2023[16] - Interest expense and dividends on preferred shares rose to $66,272 in Q3 2024, up $17,753 from $48,519 in Q3 2023[16] - Asset impairment charges for the nine months ended September 30, 2024, were $962, a $258 decrease from $1,220 in the same period in 2023[16] Other Financial Metrics - Internalization fee to affiliate contributed $300,000 to Adjusted EBITDA for the nine months ended September 30, 2024[16] - Pro-rata share of Adjusted EBITDA from unconsolidated entities was $(382) in Q3 2024, compared to $642 in Q3 2023[16]