FTAI Aviation Ltd. (FTAI) Earnings
FTAI Aviation Ltd. is expected to report next earnings on July 28, 2026 (in NaN days), with a consensus EPS estimate of $1.68. FTAI has beaten EPS estimates in 3 of its last 12 reported quarters (average surprise -4.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $1.61 | $1.29 | -19.9% | $831M | +10.8% |
| Feb 26, 2026 | $1.22 | $1.08 | -11.5% | $658M | -13.6% |
| Jul 29, 2025 | $1.29 | $1.57 | +21.7% | $676M | +18.9% |
| Apr 30, 2025 | $0.95 | $0.87 | -8.9% | $502M | -0.5% |
| Feb 26, 2025 | $0.90 | $0.84 | -6.4% | $499M | +0.8% |
| Jul 23, 2024 | $0.47 | $0.26 | -44.5% | $447M | +23.3% |
| Apr 25, 2024 | $0.38 | $0.31 | -18.4% | $331M | +9.5% |
| Feb 22, 2024 | $0.44 | $1.09 | +147.7% | $317M | +2.1% |
| Oct 25, 2023 | $0.42 | $0.33 | -21.4% | $291M | -6.1% |
| Jul 26, 2023 | $0.30 | $0.46 | +53.3% | $274M | -3.2% |
| Feb 23, 2023 | $0.50 | $0.20 | -60.0% | $274M | +12.7% |
| Oct 27, 2022 | $0.57 | $0.05 | -91.2% | $230M | +52.8% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2025 · February 26, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- 2025 was a defining year with launch of strategic capital initiative (SCI), raising $2B in equity commitments for SCI I, closing 130 aircraft by Dec 31, and starting fundraising for SCI II. - Aerospace Products had strong momentum with production surpassing 2025 goal, multiyear materials agreement with CFM. - Priorities for 2026 include completing SCI I deployment, revising aerospace products production target to 1,050 modules, progress on FTAI Power including facility retrofitting, inventory build-up, and customer engagement. - Strengthening workforce with training academy, integration of facilities, and investment in component repair capacity.
Guidance
- Updated 2026 total business segment guidance to $1.625B, up from $1.525B, with $1.05B from Aerospace Products and $575M from aviation leasing. - Expect 2026 free cash flow of approximately $915M, reflecting additional EBITDA, increased SCI investments, and additional Power working capital. - Increased dividend from $0.35 to $0.40 per share per quarter, paid on March 23.
Segment performance
Aerospace Products finished Q4 2025 with adjusted EBITDA of $195 million at a 35% margin, up ~66% YOY and 8% QOQ. Full-year 2025 Aerospace Products adjusted EBITDA was $671 million, in line with revised target of $650M - $700M. Leasing had Q4 2025 adjusted EBITDA of ~$113 million, including $20M from SCI through management fees and co-investment returns and $93M from leasing assets on balance sheet. Full-year 2025 Leasing EBITDA was $609 million. 2025 adjusted free cash flow was $724 million, adjusted for investments in strategic capital, FTAI Power, and hot section parts.
Analyst Q&A
Q: On AP margins, how does access to PMA blades, CFM materials deal support margin profile?
A: Margins expected to grow from 35% to 40% via PMA HPT blade approval, additional lower-cost parts supplies from CFM deal and used service material, and continued growth in piece part repair capability.
Q: On FTAI Power, steps to achieve 100 units in 2027?
A: Leveraging existing infrastructure, feedstock of engines, and turbine and module exchange model for maintenance.
Q: On sourcing environment for SCI I, SCI II, and production?
A: Sourcing from market with high engine shop visit intensity, 2% - 3% annual retirement rate of CFM56 engines, and SCI II likely around $6B.
Q: On module production exceeding target, drivers?
A: People (training academy, in-house training), parts (investments in repair capabilities), process (optimization via Palantir, collaboration across shops).
Q: On cash flow and investments in 2026?
A: $1.2B free cash flow before growth initiatives, investments in SCI II, FTAI Power, and hot section parts.
Q: On Power initiative margins and M&A strategy?
A: Expect margins as good or better than Aerospace Products due to repurposing assets, and M&A strategy is organic with potential to explore acceleration opportunities.
Q: On partnership with CFM?
A: Multiyear deal covering parts supply, piece part repairs, component repairs and thrust, benefiting both parties.
Q: On hiring and pace in 2026?
A: Continued growth in workforce with training academy, expansion of shops, and opportunities in regions like Middle East and Southeast Asia.
Q: On demand for SCI II?
A: Positive demand for asset-based uncorrelated cash flow, in good position with fully invested SCI I and launching SCI II.
Q: On FTAI Power customer demand?
A: Active discussions with hyperscalers and data center operators, focusing on long-term durable deployment.