FTAI Aviation (FTAI) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and FTAI Aviation published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• FTAI Aviation reports no adjusted EPS. Its main non-GAAP measure is Adjusted EBITDA, which it reports by segment.
• FTAI is moving Aviation Leasing to an asset-light model: it sold on-lease aircraft (the Seed Assets) to its 2025 Partnership, which it accounts for as an affiliate, so lease and maintenance revenue are falling while sales of engines and modules to the partnerships appear as MRE Contract revenue from an affiliate.

Source: FTAI Aviation Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How FTAI Aviation splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• FTAI Aviation's Aerospace Products revenue was $910 million in Q3 2026, up 76% from $518 million in Q3 2025, 93% of total revenue.
• FTAI Aviation's Aviation Leasing revenue was $67.7 million in Q3 2026, down 55% from $149 million in Q3 2025, 7% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

FTAI's release says it reaffirmed its 2026 and 2027 Adjusted EBITDA guidance but does not restate the figures. It does give its module production outlook and its Aerospace Products margin guidance.

In its Q3 2026 release, FTAI Aviation said:

“Reaffirmed 2026 and 2027 Adjusted EBITDA guidance across all business lines”

“Delivered an Adjusted EBITDA margin of 31%, in line with the Company's 30% margin guidance”

“Year-to-date production now totals 877 modules toward the 2026 outlook of 1,200 modules”

Source: FTAI Aviation Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the FTAI forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenues and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for FTAI Aviation's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

FTAI Aviation's total revenues were $977.7 million in Q3 2026, against $667.1 million a year earlier. FTAI reports two segments. Aerospace Products brought in $910.0 million, up 76%, and Aviation Leasing brought in $67.7 million, down from $149.2 million. (FTAI Aviation Q3 2026 release, Oct 29, 2026; FTAI Aviation Form 10-Q, Q3 2026, Nov 2, 2026)

Aerospace Products sells CFM56-5B, CFM56-7B and V2500 engines, engine modules, spare parts and used material. Aerospace products revenue rose by $321.4 million to $780.6 million, primarily on a $313.8 million increase in engine and module sales, and MRE Contract revenue from affiliates rose by $70.7 million to $129.4 million on higher engine and module sales to the SCI Partnerships. FTAI produced 311 CFM56 modules across its network in the quarter, up 50% from Q3 2025. (FTAI Aviation Form 10-Q, Q3 2026, Nov 2, 2026; FTAI Aviation Q3 2026 release, Oct 29, 2026)

Aviation Leasing is shrinking on the balance sheet as FTAI shifts it to an asset-light model. Lease income fell by $29.8 million to $25.3 million, driven partly by the sale of on-lease aircraft (the Seed Assets) to the 2025 Partnership, and maintenance revenue fell to $27.3 million from $52.4 million. FTAI says Strategic Capital now represents more than 50% of Aviation Leasing. SCI I had closed 212 of 301 committed aircraft by September 30, 2026, and SCI II began investing in September with 109 aircraft committed and a $2.0 billion committed warehouse facility. (FTAI Aviation Form 10-Q, Q3 2026, Nov 2, 2026; FTAI Aviation Q3 2026 release, Oct 29, 2026)

By customer and lessee location, North America accounted for $801.7 million of revenue and Europe $101.1 million, and the United States alone represented 72% of total revenues. FTAI's 10-K says most of its target customers are small and medium sized airlines with narrowbody fleets powered by CFM56-5B, CFM56-7B and V2500 engines, served from owned facilities in Montréal, Miami, Lisbon and Orange and a 50% stake in QuickTurn Europe in Rome. (FTAI Aviation Form 10-Q, Q3 2026, Nov 2, 2026; FTAI Aviation Form 10-K, 2025, Feb 27, 2026)

FTAI Aviation's diluted EPS was $1.43 in Q3 2026, against $1.10 a year earlier, on net income attributable to shareholders of $149.1 million, against $114.0 million. FTAI does not report an adjusted EPS. Its headline non-GAAP measure, Adjusted EBITDA, was $348.3 million, against $297.4 million; it adds back taxes, interest, depreciation, equity-based compensation, acquisition costs and $22.0 million of FTAI Power pre-commercial research and development, a line that did not exist a year earlier. (FTAI Aviation Q3 2026 release, Oct 29, 2026)

Research and development expense of $22.0 million was new in Q3 2026, tied to the aeroderivative turbine FTAI Power has not yet launched. Interest expense rose to $65.1 million from $60.8 million, while depreciation and amortization fell to $43.3 million from $55.3 million as leasing assets left the balance sheet. Equity in earnings of unconsolidated entities, mainly the SCI Partnerships, was $16.9 million against a $4.2 million loss. Dividends on preferred shares fell to $1.5 million from $3.7 million after FTAI redeemed preferred shares, leaving 2,600,000 outstanding at September 30, 2026 against 6,800,000 at the end of 2025. (FTAI Aviation Q3 2026 release, Oct 29, 2026)

Diluted weighted average shares were 104,106,460, against 103,966,650 a year earlier. FTAI started a share repurchase program on September 15, 2026 and on October 27 raised the authorization by $500.0 million to $1.0 billion. It has bought back about $80.0 million of shares at a weighted average price of $178.73, $50.0 million of it in Q3, and plans a $500.0 million accelerated share repurchase with Royal Bank of Canada in Q4 2026. The quarterly dividend was $0.50 per ordinary share. (FTAI Aviation Q3 2026 release, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

FTAI Aviation said it reaffirmed its 2026 and 2027 Adjusted EBITDA guidance across all business lines, but the release does not repeat the figures. It does restate two operating targets: a 2026 outlook of 1,200 CFM56 modules, against 877 produced through September, and 30% Adjusted EBITDA margin guidance for Aerospace Products, which earned 31% in Q3 2026. (FTAI Aviation Q3 2026 release, Oct 29, 2026)

For FTAI Power, the release says more than 100 units are under contract for delivery in 2027 and 2028 to customers in the U.S. and Canada, and that the Mod-1 turbine met its targets of 25MW peak and 23MW continuous baseload power ahead of first deliveries next year. SCI I is expected to close substantially all committed aircraft by year end. (FTAI Aviation Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover FTAI Aviation, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones FTAI Aviation's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning FTAI is on is FTAI a buy or a sell?, what analysts expect next is on the FTAI forecast, and what the company does is on the FTAI Aviation (FTAI) stock page.

Every number on this page can be traced to a document FTAI Aviation published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.