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FTAI Aviation Ltd. Reports Fourth Quarter and Full Year 2024 Results, Declares Dividend of $0.30 per Ordinary Share, Announces Agreement to Expand Maintenance Capacity with QuickTurn Europe
FTAIFTAI Aviation(FTAI) GlobeNewswire·2025-02-26 21:15

Financial Overview - FTAI Aviation Ltd. reported a net income attributable to shareholders of 86.692millionforQ42024,withbasicearningspershareof86.692 million for Q4 2024, with basic earnings per share of 0.85 and diluted earnings per share of 0.84[2][21]−ThecompanyachievedanAdjustedEBITDAof0.84 [2][21] - The company achieved an Adjusted EBITDA of 252.015 million for Q4 2024 [2][21] Dividends - The Board declared a cash dividend of 0.30perordinaryshareforQ42024,payableonMarch24,2025[3]−CashdividendsforSeriesCandSeriesDPreferredSharesweredeclaredat0.30 per ordinary share for Q4 2024, payable on March 24, 2025 [3] - Cash dividends for Series C and Series D Preferred Shares were declared at 0.51563 and 0.59375pershare,respectively,payableonMarch17,2025[4]BusinessHighlights−AsubsidiaryofFTAIenteredintoanagreementtoacquirea500.59375 per share, respectively, payable on March 17, 2025 [4] Business Highlights - A subsidiary of FTAI entered into an agreement to acquire a 50% stake in IAG Engine Center, forming a joint venture named Quick Turn Engine Center Europe [6] - The new joint venture is expected to add capacity to maintain 450 modules (150 engines) per year, increasing FTAI's total maintenance capacity to 1,800 CFM56 modules (600 engines) [7] Growth and Financial Performance - FTAI's Aerospace Products segment reported a net income of 346 million for fiscal year 2024, a 92% increase year-over-year, with Adjusted EBITDA up 138% year-over-year [9] - The company targets an adjusted free cash flow of approximately 650millionfor2025,followingsignificantgrowthinvestmentsin2024[9]Outlook−FTAIexpects2025AdjustedEBITDAofapproximately650 million for 2025, following significant growth investments in 2024 [9] Outlook - FTAI expects 2025 Adjusted EBITDA of approximately 1.1 to 1.15billion,with1.15 billion, with 500 million from Aviation Leasing and 600to600 to 650 million from Aerospace Products [11] - The 2026 Adjusted EBITDA forecast has been increased from 1.25billiontoapproximately1.25 billion to approximately 1.4 billion, reflecting expected incremental upside from the Strategic Capital Initiative [12] Key Performance Measures - Adjusted EBITDA is utilized as a key performance measure, providing insights into operational performance and resource allocation decisions [27][28]