FTAI Aviation Ltd (FTAI) Reports Q3 2023 Earnings and Declares Dividend
FTAI Aviation Ltd (NASDAQ:FTAI) reported a net income attributable to shareholders of $32,973,000 for Q3 2023.
The company declared a dividend of $0.30 per ordinary share, payable on November 28, 2023.
FTAI's total revenues for Q3 2023 stood at $291,096,000, a significant increase from Q3 2022.
The company's Adjusted EBITDA for Q3 2023 was $154,218,000.
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FTAI Aviation Ltd (NASDAQ:FTAI) released its Q3 2023 earnings report on October 25, 2023. The company reported a net income attributable to shareholders of $32,973,000, with basic and diluted earnings per ordinary share from continuing operations standing at $0.33. The company's Adjusted EBITDA for the quarter was $154,218,000.
Financial Performance
FTAI's total revenues for the quarter amounted to $291,096,000, a significant increase from the $230,365,000 reported in Q3 2022. The revenue was generated from various sources including lease income, maintenance revenue, asset sales revenue, aerospace products revenue, and other revenue.
Dividends
On October 25, 2023, FTAI's Board of Directors declared a cash dividend on FTAIs ordinary shares of $0.30 per share for the quarter ended September 30, 2023. The dividend is payable on November 28, 2023 to the holders of record on November 14, 2023.
Financial Statements
The company's consolidated balance sheet as of September 30, 2023, shows total assets of $2,633,786,000 and total liabilities of $2,538,724,000. The total equity stood at $95,062,000. The company's cash and cash equivalents at the end of the period were $52,879,000.
The consolidated statement of operations shows a net income attributable to shareholders of $32,973,000 for the three months ended September 30, 2023, and $101,997,000 for the nine months ended September 30, 2023.
Company Overview
FTAI Aviation Ltd owns and maintains commercial jet engines with a focus on CFM56 engines. The company's propriety portfolio of products enables it to provide cost savings and flexibility to its airline, lessor, and maintenance, repair, and operations customer base. FTAI also owns and leases jet aircraft which often facilitates the acquisition of engines at attractive prices.
Explore the complete 8-K earnings release (here) from FTAI Aviation Ltd for further details.
This article first appeared on GuruFocus.
