Financial Performance - Net income attributable to shareholders for Q1 2025 was $89.9 million, compared to $31.3 million in Q1 2024, representing a significant increase of 187%[6] - Basic earnings per ordinary share for Q1 2025 was $0.88, up from $0.31 in Q1 2024, reflecting a growth of 184%[14] - Total revenues for Q1 2025 reached $502.1 million, a 54% increase from $326.7 million in Q1 2024[15] - Adjusted EBITDA for Q1 2025 was $268.6 million, with a margin of 36% for Aerospace Products, which generated $131 million[6] - Adjusted EBITDA for Q1 2025 reached $268,558,000, representing a 63.7% increase compared to $164,101,000 in Q1 2024[23] - In the Aerospace Products segment, net income attributable to shareholders for Q1 2025 was $106,643,000, up 60.5% from $66,433,000 in Q1 2024[26] - Adjusted EBITDA for Aerospace Products in Q1 2025 was $130,945,000, a 86.3% increase from $70,277,000 in Q1 2024[26] Assets and Liabilities - Total current assets increased to $1.87 billion as of March 31, 2025, compared to $1.23 billion at the end of 2024[18] - Long-term debt increased to $3.64 billion as of March 31, 2025, up from $3.44 billion at the end of 2024[18] - The company reported a total of $4.27 billion in assets as of March 31, 2025, compared to $4.04 billion at the end of 2024[18] Expenses - Provision for income taxes in Q1 2025 was $22,859,000, compared to $5,572,000 in Q1 2024, reflecting a change of $17,287,000[23] - Depreciation and amortization expense increased to $68,387,000 in Q1 2025 from $59,122,000 in Q1 2024, a rise of $9,265,000[23] - Equity-based compensation expense rose to $4,889,000 in Q1 2025, compared to $510,000 in Q1 2024, indicating an increase of $4,379,000[23] - Interest expense and dividends on preferred shares increased to $68,155,000 in Q1 2025 from $56,042,000 in Q1 2024, an increase of $12,113,000[23] - Acquisition and transaction expenses for Q1 2025 were $7,292,000, up from $6,179,000 in Q1 2024, reflecting a change of $1,113,000[23] Market Demand and Operations - FTAI's Module Factory has over 100 customers worldwide, indicating strong market demand[6] - As of March 31, 2025, FTAI owned or had letters of intent for 98 aircraft under its Strategic Capital Initiative 2025 partnership[6] Dividends - The company declared a cash dividend of $0.30 per ordinary share for the quarter ended March 31, 2025[3] Other Financial Metrics - The pro-rata share of Adjusted EBITDA from unconsolidated entities improved to $41,000 in Q1 2025 from a loss of $548,000 in Q1 2024, a change of $589,000[23]
FTAI AVIATION(FTAIM) - 2025 Q1 - Quarterly Results