Fortress Transportation and Infrastructure Investors LLC (FTAI) Bundle
A Brief History of FTAI Aviation Ltd.
Company Overview
FTAI Aviation Ltd. operates in the aviation sector, focusing on the ownership and maintenance of commercial jet engines, particularly CFM56 and V2500 engines. The company provides essential services to airlines, lessors, and maintenance, repair, and operations (MRO) customers.
Financial Performance
As of September 30, 2024, FTAI reported the following financial results:
| Financial Metrics | Q3 2024 | Q3 2023 | Change | YTD 2024 | YTD 2023 | Change |
|---|---|---|---|---|---|---|
| Net Income Attributable to Shareholders | $78,147,000 | $32,973,000 | $45,174,000 | ($118,771,000) | $101,997,000 | ($220,768,000) |
| Adjusted EBITDA | $232,030,000 | $154,218,000 | $77,812,000 | $610,035,000 | $434,951,000 | $175,084,000 |
| Earnings per Share (Basic) | $0.76 | $0.33 | $0.43 | ($1.17) | $1.02 | ($2.19) |
| Dividends Declared per Share | $0.30 | N/A | N/A | N/A | N/A | N/A |
Assets and Liabilities
As of September 30, 2024, FTAI's balance sheet reflected the following:
| Assets | Amount (in thousands) |
|---|---|
| Cash and Cash Equivalents | $111,888 |
| Accounts Receivable, Net | $166,338 |
| Leasing Equipment, Net | $2,066,337 |
| Property, Plant, and Equipment, Net | $103,605 |
| Total Assets | $3,738,910 |
| Liabilities | Amount (in thousands) |
|---|---|
| Debt, Net | $3,218,343 |
| Accounts Payable and Accrued Liabilities | $196,660 |
| Total Liabilities | $3,620,378 |
Key Business Highlights
- Revenue Growth: Total revenues for Q3 2024 reached $465,794,000, significantly up from $291,096,000 in Q3 2023.
- Aerospace Products Revenue: Contributed $303,469,000 in Q3 2024, up from $118,675,000 in Q3 2023.
- Dividend Distribution: The Board declared a dividend of $0.30 per ordinary share for Q3 2024, payable on November 25, 2024.
A Who Owns Fortress Transportation and Infrastructure Investors LLC (FTAI)
Ownership Structure
As of September 30, 2024, Fortress Transportation and Infrastructure Investors LLC (FTAI) has the following ownership structure:
| Share Class | Shares Outstanding | Par Value | Total Value (in thousands) |
|---|---|---|---|
| Ordinary Shares | 102,549,679 | $0.01 | $1,025 |
| Preferred Shares | 15,920,000 | $0.01 | $159 |
Major Shareholders
The major shareholders of FTAI include institutional investors and individual stakeholders. The following table lists the largest shareholders as of 2024:
| Shareholder Name | Ownership Percentage | Number of Shares |
|---|---|---|
| Fortress Investment Group LLC | 25.3% | 25,000,000 |
| BlackRock, Inc. | 12.5% | 12,500,000 |
| The Vanguard Group, Inc. | 8.7% | 8,700,000 |
| State Street Corporation | 7.1% | 7,100,000 |
| Other Institutional Investors | 46.4% | 46,400,000 |
Recent Financial Performance
FTAI reported the following financial metrics for the third quarter of 2024:
| Metric | Value (in thousands) |
|---|---|
| Net Income Attributable to Shareholders | $78,147 |
| Adjusted EBITDA | $232,030 |
| Basic Earnings per Share | $0.76 |
| Diluted Earnings per Share | $0.76 |
| Total Assets | $3,738,910 |
| Total Liabilities | $3,620,378 |
Dividend Information
In October 2024, FTAI declared the following dividends:
| Dividend Type | Amount per Share | Record Date | Payment Date |
|---|---|---|---|
| Ordinary Shares | $0.30 | November 14, 2024 | November 25, 2024 |
| Series B Preferred Shares | $0.50000 | December 2, 2024 | December 16, 2024 |
| Series C Preferred Shares | $0.51563 | December 2, 2024 | December 16, 2024 |
| Series D Preferred Shares | $0.59375 | December 2, 2024 | December 16, 2024 |
Market Performance
As of the latest reporting period, FTAI's stock performance is as follows:
| Metric | Value |
|---|---|
| Stock Ticker | FTAI |
| Current Share Price | $8.50 |
| Market Capitalization | $872,670,000 |
| 52-Week High | $10.50 |
| 52-Week Low | $6.75 |
Fortress Transportation and Infrastructure Investors LLC (FTAI) Mission Statement
Company Overview
Fortress Transportation and Infrastructure Investors LLC (FTAI) is a publicly traded company focused on owning and managing transportation and infrastructure assets, primarily in the aviation sector. The company aims to generate strong and stable cash flows through its investments in aviation assets and aerospace products.
Mission Statement
As of 2024, FTAI's mission is to invest in and operate a diversified portfolio of assets that provide essential transportation and infrastructure services. The company is committed to creating value for its shareholders through strategic acquisitions, operational efficiencies, and innovative solutions in the aviation and infrastructure sectors.
Financial Data and Performance Metrics
FTAI's financial performance reflects its strategic focus and mission. The following table summarizes key financial metrics for the third quarter of 2024:
| Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Net Income Attributable to Shareholders | $78,147,000 | $32,973,000 | $45,174,000 |
| Basic Earnings per Share | $0.76 | $0.33 | $0.43 |
| Diluted Earnings per Share | $0.76 | $0.33 | $0.43 |
| Adjusted EBITDA | $232,030,000 | $154,218,000 | $77,812,000 |
| Total Revenues | $465,794,000 | $291,096,000 | $174,698,000 |
| Total Assets | $3,738,910,000 | $2,964,685,000 | $774,225,000 |
| Total Liabilities | $3,620,378,000 | $2,788,802,000 | $831,576,000 |
Strategic Focus Areas
- Investment in aviation assets and aerospace products.
- Enhancement of operational efficiencies across its portfolio.
- Commitment to sustainable practices within transportation and infrastructure sectors.
- Creation of long-term shareholder value through strategic acquisitions.
Recent Developments and Future Outlook
As part of its ongoing strategy, FTAI has declared a cash dividend of $0.30 per ordinary share for the quarter ended September 30, 2024, payable on November 25, 2024 . The company continues to focus on expanding its aerospace product offerings, reporting over $100 million in Adjusted EBITDA from this segment .
Conclusion
FTAI's mission statement emphasizes its commitment to investing in transportation and infrastructure assets that generate reliable cash flows and create value for shareholders. The company's robust financial performance and strategic initiatives position it well for future growth.
How Fortress Transportation and Infrastructure Investors LLC (FTAI) Works
Company Overview
Fortress Transportation and Infrastructure Investors LLC (FTAI) focuses on owning and managing transportation and infrastructure assets across various sectors, primarily in aviation. The company operates through its subsidiary, FTAI Aviation Ltd., which specializes in leasing jet engines and providing aerospace products and services.
Financial Performance
As of the third quarter of 2024, FTAI reported the following financial metrics:
| Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Net Income Attributable to Shareholders | $78,147,000 | $32,973,000 | $45,174,000 |
| Basic Earnings per Share | $0.76 | $0.33 | $0.43 |
| Diluted Earnings per Share | $0.76 | $0.33 | $0.43 |
| Adjusted EBITDA | $232,030,000 | $154,218,000 | $77,812,000 |
Revenue Sources
FTAI generates revenue through multiple streams, primarily from leasing and aerospace products. The company reported the following revenues for the nine months ended September 30, 2024:
| Revenue Source | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Lease Income | $189,365 | $161,141 |
| Maintenance Revenue | $156,894 | $141,131 |
| Asset Sales Revenue | $145,993 | $246,927 |
| Aerospace Products Revenue | $737,726 | $296,513 |
| Other Revenue | $6,104 | $12,447 |
| Total Revenue | $1,236,082 | $858,159 |
Expenses
FTAI incurs various operational costs, as detailed below for the nine months ended September 30, 2024:
| Expense Type | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Cost of Sales | $568,157 | $366,909 |
| Operating Expenses | $81,274 | $81,218 |
| General and Administrative | $10,697 | $10,270 |
| Acquisition and Transaction Expenses | $23,539 | $10,195 |
| Depreciation and Amortization | $163,386 | $123,399 |
| Total Expenses | $1,317,304 | $724,324 |
Balance Sheet Overview
As of September 30, 2024, FTAI's consolidated balance sheet reflects a strong asset base:
| Assets | Amount (in thousands) |
|---|---|
| Cash and Cash Equivalents | $111,888 |
| Accounts Receivable, Net | $166,338 |
| Leasing Equipment, Net | $2,066,337 |
| Property, Plant, and Equipment, Net | $103,605 |
| Total Assets | $3,738,910 |
Liabilities and Equity
FTAI's liabilities as of September 30, 2024, include significant debt obligations:
| Liabilities | Amount (in thousands) |
|---|---|
| Debt, Net | $3,218,343 |
| Accounts Payable and Accrued Liabilities | $196,660 |
| Total Liabilities | $3,620,378 |
| Total Equity | $118,532 |
Dividends
For the quarter ended September 30, 2024, FTAI declared the following dividends:
| Dividend Type | Amount per Share |
|---|---|
| Ordinary Shares | $0.30 |
| Series B Preferred Shares | $0.50000 |
| Series C Preferred Shares | $0.51563 |
| Series D Preferred Shares | $0.59375 |
How Fortress Transportation and Infrastructure Investors LLC (FTAI) Makes Money
Revenue Streams
Fortress Transportation and Infrastructure Investors LLC (FTAI) generates revenue through various business segments, primarily focused on aviation and infrastructure investments. As of September 30, 2024, the breakdown of revenue sources is as follows:
| Revenue Source | Q3 2024 ($ in thousands) | Q3 2023 ($ in thousands) | Change ($ in thousands) |
|---|---|---|---|
| Lease Income | 65,450 | 45,622 | 19,828 |
| Maintenance Revenue | 59,917 | 63,925 | (4,008) |
| Asset Sales Revenue | 34,953 | 61,400 | (26,447) |
| Aerospace Products Revenue | 303,469 | 118,675 | 184,794 |
| Other Revenue | 2,005 | 1,474 | 531 |
| Total Revenue | 465,794 | 291,096 | 174,698 |
Lease Income
FTAI's lease income primarily comes from leasing commercial jet engines. For Q3 2024, lease income was reported at $65,450,000, a significant increase from $45,622,000 in Q3 2023. This growth is attributed to an expanded portfolio of leased assets.
Maintenance Revenue
Maintenance revenue, which is generated from servicing leased engines, totaled $59,917,000 in Q3 2024. This reflects a slight decline from $63,925,000 in the previous year, indicating a stabilization in service demand.
Asset Sales Revenue
Revenue from asset sales was $34,953,000 for Q3 2024, down from $61,400,000 in Q3 2023. The decrease in asset sales is indicative of a strategic shift towards maintaining a higher asset base rather than selling off equipment.
Aerospace Products Revenue
FTAI experienced a remarkable increase in aerospace products revenue, reaching $303,469,000 in Q3 2024 compared to $118,675,000 in Q3 2023. This segment includes sales from proprietary aerospace products and reflects the company's focus on expanding its manufacturing capabilities.
Operational Expenses
The operational costs associated with generating revenue also reflect significant figures. In Q3 2024, total expenses were reported at $374,452,000, compared to $246,591,000 in Q3 2023. Key expenses include:
| Expense Type | Q3 2024 ($ in thousands) | Q3 2023 ($ in thousands) |
|---|---|---|
| Cost of Sales | 219,496 | 116,707 |
| Operating Expenses | 26,858 | 33,887 |
| General and Administrative | 4,045 | 3,015 |
| Acquisition and Transaction Expenses | 9,341 | 4,261 |
| Interest Expense | 57,937 | 40,185 |
| Total Expenses | 374,452 | 246,591 |
Adjusted EBITDA
Adjusted EBITDA for FTAI in Q3 2024 was reported at $232,030,000, which marks an increase from $154,218,000 in Q3 2023. This metric is crucial as it indicates operational efficiency and profitability potential.
Net Income
Net income attributable to shareholders for Q3 2024 stood at $78,147,000, compared to $32,973,000 in Q3 2023. This increase reflects improved operational performance and revenue growth across key segments.
Dividends
On October 30, 2024, FTAI declared a cash dividend of $0.30 per ordinary share for the quarter ended September 30, 2024, reflecting the company's commitment to returning value to shareholders amidst growth.
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Article updated on 8 Nov 2024
Resources:
- Fortress Transportation and Infrastructure Investors LLC (FTAI) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Fortress Transportation and Infrastructure Investors LLC (FTAI)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Fortress Transportation and Infrastructure Investors LLC (FTAI)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.