Q2 2024 FTAI Aviation Ltd Earnings Call Transcript
Key Points
- FTAI Aviation Ltd (FTAI) announced its 37th dividend as a public company, marking its 52nd consecutive dividend since inception.
- Adjusted EBITDA for Q2 2024 was $213.9 million, up 30% from Q1 2024 and 40% from Q2 2023.
- Leasing segment posted approximately $125 million of EBITDA, with strong demand for assets and a robust summer travel season.
- Aerospace products segment achieved $91.2 million of EBITDA with an overall margin of 37%, showing tremendous growth.
- FTAI Aviation Ltd (FTAI) raised its 2024 EBITDA estimates for aerospace products from $250 million to $325-$350 million.
- Corporate and other segments posted a negative EBITDA of $2.3 million.
- The company faces challenges in the supply chain, which could impact material availability and turn times.
- There is uncertainty regarding the exact timing of PMA part approvals, which could affect future margins.
- The market for older equipment and engines is highly competitive, potentially impacting acquisition costs.
- FTAI Aviation Ltd (FTAI) needs to manage its debt levels carefully to maintain a strong BB rating and leverage ratio.
Ladies and gentlemen, thank you for standing by. Welcome to the second quarter 2024 FTAI Aviation's earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would like now to turn your conference over to Alan Andreini, Investor Relations. Please go ahead.
Thank you, Michelle. I would like to welcome you all to the FTAI Aviation second-quarter 2024 earnings call. Joining me here today are Joe Adams, our Chief Executive Officer; Angela Nam, our Chief Financial Officer; and David Moreno, our Chief Operating Officer. We have posted an investor presentation in our press release on our website, which we encourage you to download if you have not already done so.
Also, please note that this call is open to the public in listen-only mode and is being webcast. In addition, we will be discussing some non-GAAP financial measures during the call today, including EBITDA. The reconciliation of those measures to the most directly comparable GAAP measures can
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