Press release
FTAI Aviation Ltd. Reports Second Quarter 2024 Results, Declares Dividend of $0.30 per Ordinary Share
NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the “Company” or “FTAI”) today reported financial results for the second
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the “Company” or “FTAI”) today reported financial results for the second quarter 2024. The Company’s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release. Financial Overview (in thousands, except per share data) Selected Financial Results Q2’24Net Loss Attributable to Shareholders $(228,205)Basic Earnings per Ordinary Share $(2.26)Diluted Earnings per Ordinary Share $(2.26)Adjusted EBITDA(1) $213,904 _______________________________(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. Second Quarter 2024 Dividends On July 23, 2024, the Company’s Board of Directors (the “Board”) declared a cash dividend on our ordinary shares of $0.30 per share for the quarter ended June 30, 2024, payable on August 20, 2024 to the holders of record on August 12, 2024. Additionally, on July 23, 2024, the Board declared cash dividends on its Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (“Series A Preferred Shares”), Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (“Series B Preferred Shares”), Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (“Series C Preferred Shares”) and Fixed-Rate Reset Series D Cumulative Perpetual Redeemable Preferred Shares (“Series D Preferred Shares”) of $0.51563, $0.50000, $0.51563 and $0.59375 per share, respectively, for the quarter ended June 30, 2024, payable on September 16, 2024 to the holders of record on September 6, 2024. Business Highlights Aerospace Products reaches new Adjusted EBITDA high of $91.2mm for Q2. (1)FTAI has inducted 20 V2500 engines year to date and expects to induct an additional 30 by year end.FTAI’s Module Factory™ now has over 50 active customers worldwide. (1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. Additional Information For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Center section of the Company’s website, https://www.ftaiaviation.com, and the Company’s Quarterly Report on Form 10-Q, when available on the Company’s website. Nothing on th...