10-K · February 27, 2026
FTAI positions itself as a focused engine maintenance platform (CFM56-5B/7B and V2500) that is pivoting to an asset-light model via its Strategic Capital Initiative. Operational scale expanded in 2025 (290 aviation…
Earnings analysis · 10-Q
FTAI earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
FTAI Aviation Ltd. reported stronger than anticipated revenue results for Q1 2026, with revenues reaching $830.7 million, exceeding estimates by 10.98%. However, the company's EPS came in at $1.29, missing estimates by…
Read full summary
FTAI Aviation Ltd. reported stronger than anticipated revenue results for Q1 2026, with revenues reaching $830.7 million, exceeding estimates by 10.98%. However, the company's EPS came in at $1.29, missing estimates by 19.37%. The Aerospace Products segment showed significant growth driven by increased engine sales, while the Aviation Leasing segment faced revenue declines. Management noted challenges due to rising costs but remains focused on liquidity preservation and strategic initiatives.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.29
- Segment
- Aerospace Products
- Segment
- Aviation Leasing
What stood out
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Revenue Beats Estimates
Revenue for Q1 2026 was $830.7M, exceeding estimates of $748.5M by 10.98%.
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Aerospace Products Revenue Surge
Aerospace Products segment revenue increased to $522.6M from $264.4M, a significant rise of $258.2M year-over-year.
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EPS Decline
Reported EPS for Q1 2026 was $1.29, missing the estimate of $1.60 by 19.37%.
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Improved Operating Performance
Operating income increased to $169.4M compared to $125.2M in Q1 2025, reflecting effective cost management.
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Strong Liquidity Position
Management confirmed available liquidity to meet operational needs, with cash flows from operations at $152.6M.
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Strategic Capital Initiative
The company plans to focus on its Strategic Capital Initiative for investing in aviation assets.
What to watch
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Declining Aviation Leasing Revenue
Aviation Leasing revenue decreased to $86.9M from $137.0M year-over-year, a decline of $50.1M.
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Higher Operating Costs
Total operating expenses surged to $660.3M due to increased costs of sales, reflecting a rise of $309.2M.
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Interest Expense Pressure
Interest expense remained high at $61.4M, slightly decreased from $62.0M but continues to pressure margins.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · July 31, 2025
FTAI reported a strong operational quarter: revenue rose to $676,237 (three months ended June 30, 2025) and diluted EPS was $1.57, a large improvement versus the prior-year quarter. Aerospace Products drove the revenue…
10-K · March 3, 2025
FTAI’s 10‑K describes a two‑pillar strategy (Aviation Leasing and Aerospace Products) with a new Strategic Capital Initiative to shift toward an asset‑light model via third‑party partnerships. The filing discloses a…
10-Q · November 12, 2024
FTAI reported strong quarter with revenue of $465,794,000 in Q3 2024, up 59.9% from $291,096,000 in Q3 2023, driven primarily by Aerospace Products. Diluted EPS was $0.76 versus $0.33 a year ago and operating margin…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.