FORTRESS TRSP(FTAIN) - 2025 Q4 - Annual Results

Financial Performance - FTAI Aviation Ltd. reported a net income attributable to shareholders of $111,852,000 for Q4 2025, compared to $86,692,000 in Q4 2024, representing a year-over-year increase of 29%[2] - The company achieved basic earnings per ordinary share of $1.09 for Q4 2025, up from $0.85 in Q4 2024, reflecting a growth of 28.2%[2] - Total revenues for Q4 2025 were $662,028,000, a 32.7% increase from $498,819,000 in Q4 2024[15] - Adjusted EBITDA for the year ended December 31, 2025, was $1,190,922, an increase of 38.2% compared to $862,050 in 2024[21] - Net income attributable to shareholders for the year ended December 31, 2025, was $477,494, a decrease of 6.3% from $509,573 in 2024[21] Revenue and Growth - Adjusted EBITDA for FY2025 from Aerospace Products was $671.3 million, marking a 76% increase compared to FY2024 and a 320% increase compared to FY2023[6] - Aerospace products revenue for FY2025 was $1,600,456,000, compared to $1,079,821,000 in FY2024, indicating a growth of 48.1%[15] Dividends and Cash Flow - FTAI Aviation Ltd. increased its quarterly dividend from $0.35 to $0.40 per share, supported by strong free cash flow generation[6] Guidance and Future Plans - The company updated its 2026 Adjusted EBITDA guidance to a range of $1.525 billion to $1.625 billion, with $1.05 billion expected from Aerospace Products and $575 million from Aviation Leasing[6] - FTAI Power's first Aeroderivative product, FTAI Mod-1, is expected to be delivered by Q4 2026, with planned production of 100 units in 2027[6] - The company completed the deployment of the inaugural SCI I partnership and initiated fundraising for the SCI II partnership with anchor investor commitments[6] Assets and Liabilities - Total assets increased to $4,373,758, up from $4,037,952, representing a growth of 8.3% year-over-year[17] - Total current liabilities increased to $399,875 from $347,246, reflecting a rise of 15.2%[17] - Long-term debt remained stable at $3,448,891, slightly up from $3,440,478, indicating a marginal increase of 0.2%[17] Cash and Inventory - Cash and cash equivalents rose significantly to $300,476 from $115,116, marking an increase of 161.5%[17] - Inventory levels surged to $1,193,773, up from $551,156, representing a significant increase of 116.7%[17] Shareholders' Equity and Compensation - Shareholders' equity improved to $334,174 from $81,368, a substantial increase of 310.5%[17] - The company reported an increase in accounts receivable to $209,907 from $150,823, which is a growth of 39.0%[17] - The company recorded an increase in equity-based compensation expense to $21,733 from $6,006, a rise of 262.5%[21]