Financial Performance - Revenue for Q1 2025 was $1,435.6 million, a 16.2% increase from $1,235.7 million in Q1 2024[4] - Net income rose to $62.9 million, up $59.8 million year-over-year, resulting in a net income margin of 4.4%[5][8] - Adjusted EBITDA increased by 19.7% to $198.2 million, with an Adjusted EBITDA margin of 13.8%, up 40 basis points from the prior year[6][8] - Revenue for Q1 2025 increased to $1,435,588, up 16.2% from $1,235,723 in Q1 2024[32] - Net income for Q1 2025 was $62,943, compared to $3,187 in Q1 2024, representing a significant increase[32] - Adjusted EBITDA for Q1 2025 was $221,370, with a margin that reflects the company's core operating performance[35] - Total revenue for the three months ended March 31, 2025, was $1,435,588,000, a 16.2% increase from $1,235,723,000 in the same period of 2024[37] - Adjusted EBITDA for Q1 2025 was $198,227,000, compared to $165,568,000 in Q1 2024, reflecting a margin of 13.8%[37] - Net income for Q1 2025 was $62,943,000, significantly up from $3,187,000 in Q1 2024, resulting in a net income margin of 4.4%[37] Segment Performance - Engine Services segment revenue grew by 15.6% to $1,268.3 million, driven by high aftermarket demand[9] - Component Repair Services segment revenue increased by 20.9% to $167.3 million, including $21.9 million from the ATI acquisition[11] - Segment revenue from Engine Services was $1,286,276, while Repair Services contributed $149,312, totaling $1,435,588[35] - Segment revenue for Engine Services increased to $1,268,313,000 in Q1 2025 from $1,097,392,000 in Q1 2024, maintaining an Adjusted EBITDA margin of 13.7%[38] - Component Repair Services segment revenue rose to $167,275,000 in Q1 2025, with an Adjusted EBITDA margin improving to 28.3% from 25.9% in Q1 2024[38] Guidance and Projections - Full Year 2025 revenue guidance raised to $5,825 to $5,975 million, up from the previous range of $5,800 to $5,950 million[13] - Adjusted EBITDA guidance for 2025 increased to $775 to $795 million, reflecting a positive demand outlook[13] - Free Cash Flow for 2025 is projected to be between $155 to $175 million[13] Cash Flow and Debt - Cash flow from operations for Q1 2025 was negative at $(24,000,000), an improvement from $(83,600,000) in Q1 2024[38] - Free cash flow for Q1 2025 was $(64,000,000), compared to $(101,600,000) in Q1 2024, indicating a reduction in cash burn[38] - Net debt decreased to $2,233.0 million from $3,304.4 million year-over-year, with a net debt to Adjusted EBITDA ratio of 3.1x[7] - Net debt as of March 31, 2025, was $2,233,000,000, down from $3,304,400,000 a year earlier, with a Net Debt to Adjusted EBITDA ratio of 3.1x[37] Assets and Liabilities - Total current assets rose to $2,794,562 as of March 31, 2025, compared to $2,485,134 at the end of 2024, indicating improved liquidity[30] - Total liabilities increased to $4,058,106 as of March 31, 2025, up from $3,840,197 at the end of 2024[30] - Cash at the end of Q1 2025 was $140,818, a significant increase from $34,155 at the end of Q1 2024[34] - Accounts receivable increased to $733,272 as of March 31, 2025, from $580,668 at the end of 2024, reflecting higher sales[30] Business Transformation Costs - The company incurred $12,917 in business transformation costs related to new product industrialization[35] - Business transformation costs related to LEAP and CFM amounted to $12,917,000 in Q1 2025, up from $10,244,000 in Q1 2024[37] - The company incurred integration costs and severance of $1,379,000 in Q1 2025, compared to $290,000 in Q1 2024, reflecting ongoing restructuring efforts[37]
StandardAero, Inc.(SARO) - 2025 Q1 - Quarterly Results