FTAI Aviation reported strong first quarter with results, with net income more than doubling from $39.6 million to $102.4 million in the period.
Revenues jumped from $326.7 million to $502.1 million, while expenses climbed from $233.8 million to $351.1 million. The company's adjusted EBITDA was $268.6 million, up from $164.1 million a year prior.
The company's lease income revenue climbed from $53.2 million to $68.3 million in the first quarter, while its aerospace products revenues jumped from $189.1 million last year to $365.1 million.
The aerospace products segment generated $131 million adjusted EBITDA at a margin of 36%. In addition, the company said its module factory now has over 100 customers globally.
The company's board declared a cash dividend of $0.30 per share for the first quarter, payable on May 23, 2025. Additionally, the board declared cash dividends on its fixed-rate series C and series D preferred shares of $0.51563 and $0.59375 per share, respectively, for the first quarter, payable on May 19, 2025.