FTAI Aviation (FTAI) Q4 2024 earnings summary

Executive summary

• FY 2024 revenue reached $1.73 billion, with Adjusted EBITDA of $862.1 million, up 44% from 2023, and net income attributable to shareholders of $212 million.

• Q4 2024 Adjusted EBITDA was $252 million, up 55% year-over-year, and net income for Q4 was $86.7 million.

• Announced 39th public and 54th consecutive dividend of $0.30 per share, payable March 24, 2025.

• Strategic Capital Initiative (SCI) launched, securing $2.5 billion in debt financing and ongoing equity raise.

• Expanded global footprint with new Rome facility and QuickTurn Europe JV, increasing CFM56 maintenance capacity.

Financial highlights

• Full-year 2024 Adjusted EBITDA was $862.1 million, up from $597 million in 2023; Adjusted Net Income was $276 million.

• Q4 2024 revenues were $498.8 million, with full-year revenues at $1.73 billion.

• Generated $672 million in adjusted free cash flow in 2024, with $1.3 billion invested in growth initiatives.

• Aerospace Products segment delivered $380.6 million FY 2024 Adjusted EBITDA, up 138% year-over-year.

• Aviation Leasing segment reported $500 million FY 2024 Adjusted EBITDA, up from $467 million in 2023.

Outlook and guidance

• 2025 Adjusted EBITDA expected to be $1.1–$1.15 billion, with $500 million from Aviation Leasing and $600–$650 million from Aerospace Products.

• 2025 adjusted free cash flow projected at approximately $650 million.

• 2026 annual aviation EBITDA forecast raised to $1.4 billion.

• Plans to generate ~$550 million from the sale of 46 aircraft to the 2025 SCI Partnership.

• Net Debt/Run-Rate Adjusted EBITDA targeted at 3.0x–3.5x for FY 2025.