FTAI Aviation (FTAI) Q3 2026 earnings summary

Executive summary

• Q3 revenue reached $977.7M, up 47% YoY; Adjusted EBITDA was $348.3M, up 17%, and net income attributable to shareholders was $149.1M.

• Aerospace Products growth more than offset lower Aviation Leasing revenue, while Strategic Capital expanded and SCI II began investing.

• 2026 and 2027 Adjusted EBITDA guidance was reaffirmed across business lines.

Financial highlights

• Q3 revenue was $977.7M versus $667.1M in Q3 2025; 9M revenue was $2.76B versus $1.85B.

• Q3 Adjusted EBITDA was $348.3M versus $297.4M; 9M Adjusted EBITDA was $984.8M versus $913.7M.

• Q3 net income attributable to shareholders was $149.1M; diluted EPS was $1.43 versus $1.10 YoY.

• Adjusted free cash flow was $724M for 9M 2026, before growth initiatives.

• Cash used in operations was $333.0M for 9M, primarily reflecting inventory growth.

Outlook and guidance

• Reaffirmed 2026 Adjusted EBITDA guidance of $1.05B for Aerospace Products and $475M for Aviation Leasing.

• 2027 Adjusted EBITDA guidance is $2.3B: Aerospace Products $1.4B, FTAI Power $450M–$750M and Aviation Leasing $450M; total reflects the lower end of Power's range.

• 2026 free cash flow before growth initiatives is expected to be $1.107B, down $61M due primarily to engine feedstock purchases; growth initiatives are projected at $463M versus $290M initially.

• FTAI Power targets 100 units in 2027 and a production pace of 10–15 units monthly by year-end; more than 100 Mod-1 units are under contract for delivery in 2027–2028.

• Aerospace Products targets 1,200 CFM56 modules in 2026 and 1,700 in 2027; no formal 2027 free cash flow guidance was provided.