FTAI Third-Quarter 2026 Diluted EPS Rises to $1.43

The Tip Desk · October 31, 2026 · 3 min read

Third-quarter 2026 revenue was $977.7 million and net income attributable to shareholders was $149.1 million, up 26.8% from the second quarter, as Aerospace Products Adjusted EBITDA reached $282.4 million.

FTAI Aviation Ltd. (FTAI) reported revenue of $977.7 million and net income attributable to shareholders of $149.1 million for the third quarter of 2026, with attributable net income up 26.8% from the second quarter. Diluted earnings were $1.43 a share, compared with $1.10 a year earlier.

Consolidated Adjusted EBITDA rose about 19.5% from the second quarter to $348.3 million. Total revenues were $977.7 million, up from $667.1 million a year earlier. Aerospace products revenue was $780.6 million and MRE contract revenue $129.4 million.

Chairman and CEO Joe Adams said Aerospace Products delivered outstanding growth with margins in line with guidance, that Strategic Capital’s new vehicle is now investing, and that the Mod-1 has cleared critical testing milestones ahead of first deliveries next year.

Aerospace Products generated revenue of $910.0 million and Adjusted EBITDA of $282.4 million, increases of 76% and 57% versus the third quarter of 2025, with a 31% Adjusted EBITDA margin in line with the company’s 30% margin guidance. Aerospace Products Adjusted EBITDA increased to $282.4 million from $249.7 million in the second quarter. The unit produced 311 CFM56 modules across the global MRE network, up 50% versus the third quarter of 2025. Year-to-date production totaled 877 modules toward a 2026 outlook of 1,200.

Aviation Leasing Adjusted EBITDA was $104.0 million, down from $134.4 million a year earlier. Lease income fell to $25.3 million from $55.1 million a year earlier; maintenance revenue fell to $27.3 million from $52.4 million; asset sales revenue fell to $5.9 million from $38.5 million. Strategic Capital now represents more than 50% of Aviation Leasing, the company said, reflecting its planned transition to an asset-light model. SCI I had closed 212 of 301 committed aircraft through September 30, 2026 and is expected to close substantially all committed aircraft by year end; it paid a 5.0% distribution in the third quarter, bringing year-to-date distributions to 17.5% of commitments. SCI II started investing in September and ended the quarter with 109 aircraft committed; it closed a $2.0 billion committed warehouse facility in August.

Corporate & Other Adjusted EBITDA loss widened to $(38.1) million from $(17.4) million a year earlier, including $22.0 million of FTAI Power pre-commercial research and development. Power had more than 100 units under contract for delivery in 2027 and 2028 to customers in the U.S. and Canada. The Mod-1 completed critical testing, meeting targets of 25MW for peak power and 23MW for continuous baseload power on both natural gas and liquid fuel. The company entered a joint venture to develop a mobile combined-cycle add-on that increases Mod-1 output by 9MW and raises efficiency to above 50% with no additional fuel, emissions or water; first test units are expected in the second half of 2027.

On October 27, the board approved a $500.0 million increase to the share repurchase program, bringing the total authorization to $1.0 billion. Under the program, initially authorized on September 15, 2026, the company has repurchased approximately $80.0 million of ordinary shares at a weighted average price of $178.73 a share, including $50.0 million during the third quarter. In connection with the increased authorization, the company intends to enter an accelerated share repurchase with Royal Bank of Canada for $500.0 million and expects to complete the transaction during the fourth quarter of 2026. Following completion, approximately $420.0 million will remain available under the program, which expires in 2027.

The company reaffirmed 2026 and 2027 Adjusted EBITDA guidance across all business lines. The board declared a cash dividend of $0.50 a share for the quarter ended September 30, 2026, payable November 23, 2026.