FTAI Aviation Ltd.
For the period ended Sep 30, 2026. Filed Nov 2, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 2, 2026
FTAI$180.27+11.0%Stored close · as of Nov 6, 2026
Contents
Item 1. Consolidated Statements of Operations for the three and nine months ended September 30, 2026 and 2025
CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited)
(Dollars in thousands, except share and per share data)
| Three Months Ended September 30, · Nine Months Ended September 30, | |||||
|---|---|---|---|---|---|
| Notes | 2026 | 2025 | 2026 | 2025 | |
| Revenues | |||||
| Aerospace products revenue | 2 | $780,598 | $459,206 | $1,995,412 | $1,144,317 |
| MRE Contract revenue - affiliate | 2, 10 | 129,408 | 58,663 | 533,437 | 228,886 |
| Lease income | 2 | 25,281 | 55,072 | 92,938 | 185,951 |
| Maintenance revenue | 2 | 27,292 | 52,370 | 83,684 | 175,081 |
| Asset sales revenue | 2 | 5,886 | 38,461 | 32,995 | 105,315 |
| Other revenue (1) | 9,192 | 3,292 | 22,973 | 5,831 | |
| Total revenues | 11 | 977,657 | 667,064 | 2,761,439 | 1,845,381 |
| Expenses | |||||
| Cost of sales | 623,821 | 362,922 | 1,783,871 | 980,894 | |
| Operating expenses | 2 | 62,327 | 39,092 | 175,434 | 105,858 |
| Research and development | 2 | 22,014 | — | 41,461 | — |
| General and administrative | 2,305 | 1,829 | 6,963 | 7,387 | |
| Acquisition and transaction expenses | 5,030 | 7,066 | 27,090 | 18,847 | |
| Depreciation and amortization | 3, 5 | 43,295 | 55,278 | 142,570 | 170,076 |
| Total expenses | 758,792 | 466,187 | 2,177,389 | 1,283,062 | |
| Other (expense) income | |||||
| Interest expense | (65,119) | (60,784) | (190,628) | (186,789) | |
| Equity in earnings (losses) of unconsolidated entities (2) | 4 | 16,933 | (4,224) | 24,540 | (16,841) |
| Gain on sale to the 2025 Partnership - affiliate | 2 | — | 4,609 | 17,633 | 50,083 |
| Other income | 2,168 | 3,570 | 57,324 | 63,797 | |
| Total other expense | (46,018) | (56,829) | (91,131) | (89,750) | |
| Income before income taxes | 172,847 | 144,048 | 492,919 | 472,569 | |
| Provision for income taxes | 9 | 22,239 | 26,330 | 79,318 | 87,067 |
| Net income | 150,608 | 117,718 | 413,601 | 385,502 | |
| Less: Dividends on preferred shares | 1,544 | 3,709 | 8,962 | 13,533 | |
| Less: Loss on redemption of preferred shares | — | — | 3,800 | 6,327 | |
| Net income attributable to shareholders | $149,064 | $114,009 | $400,839 | $365,642 | |
| Earnings per share: | 12 | ||||
| Basic | $1.45 | $1.11 | $3.91 | $3.57 | |
| Diluted | $1.43 | $1.10 | $3.85 | $3.52 | |
| Weighted average shares outstanding: | |||||
| Basic | 102,667,105 | 102,569,415 | 102,613,229 | 102,560,285 | |
| Diluted | 104,106,460 | 103,966,650 | 104,059,963 | 103,951,713 | |
(2)Includes the profit elimination of $(5,055) and $(21,652) for the three and nine months ended September 30, 2026, respectively (2025 - $(3,908) and $(15,793), respectively), for sales to the SCI Partnerships.
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