Press release
FTAI Aviation Ltd. Reports Third Quarter 2023 Results, Declares Dividend of $0.30 per Ordinary Share
NEW YORK, Oct. 25, 2023 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the “Company” or “FTAI”) today reported financial results for the third quarter
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"NEW YORK, Oct. 25, 2023 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) (the “Company” or “FTAI”) today reported financial results for the third quarter 2023. 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 ResultsQ3’23Net Income Attributable to Shareholders$32,973Basic Earnings per Ordinary Share from Continuing Operations$0.33Diluted Earnings per Ordinary Share from Continuing Operations$0.33Adjusted EBITDA(1)$154,218 _______________________________(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.Third Quarter 2023 Dividends On October 25, 2023, the Company’s Board of Directors (the “Board”) declared a cash dividend on FTAI’s ordinary shares of $0.30 per share for the quarter ended September 30, 2023, payable on November 28, 2023 to the holders of record on November 14, 2023. Additionally, on October 25, 2023, the Board declared cash dividends on FTAI’s 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 September 30, 2023, payable on December 15, 2023 to the holders of record on December 1, 2023. Business Highlights $107.1 million Aerospace Products revenue in Q3 2023 generating $40.6 million of Adjusted EBITDA(1) at a 38% margin.41 modules sold in Q3’23 to 11 unique customers including 2 new customers and 9 repeat customers.Generated $492 million year to date positive free cashflow available for asset acquisition & investment activity.Closed on 23 Engines & 10 Aircraft at attractive prices to help generate future growth in Aviation Leasing Adjusted EBITDA(1).(1) For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. Additional Information For additional information that ma...