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FTAI Aviation (FTAI) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · FTAI Aviation (FTAI) Q3 2026 earnings results →
Q3 2026 Revenue up 47% year over year to $978M · 15¢ of every $1 of revenue kept as net profit · operating margin 22.4%
FTAI Aviation made $978M in Q3 2026 (+47% Y/Y): Aerospace products revenue $781M, MRE Contract revenue $129M, Maintenance revenue $27.3M. Operating margin 22.4%, net earnings $149M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
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What changed this quarter
Revenue was $977.7M in Q3 2026, up 47% year over year and up 3% from the previous quarter. Aerospace products revenue was the largest line at 80% of revenue. Aerospace products revenue added $321.4M year over year (up 70%), 103% of the total change. Asset sales revenue declined 85%.
Operating profit was $218.9M, a 22.4% margin (down 7.7 points year over year). Of the extra revenue versus Q3 2025, 6% reached operating profit, below the 30% margin then. Total costs grew 63% against revenue growth of 47%. The fastest-growing cost line was Cost of revenue (+72%). Net earnings were $149.1M, up 31% year over year. The effective tax rate was 12.9%.
Operating cash flow was −$67.7M. Non-cash charges added back $43.3M of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items used $269.4M. Capital expenditures of $42.4M exceeded it, leaving free cash flow of −$110.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $978M | +47% | 22.4% | $149M | −$67.7M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $953M | +41% | 20.4% | $118M | −$105M |
| Q1 2026 | 10-Q | May 1, 2026 | $831M | +66% | 20.5% | $134M | −$160M |
| Q4 2025 | 10-K | Feb 27, 2026 | $662M | +33% | 27.0% | $112M | −$179M |
| Q3 2025 | 10-Q | Oct 29, 2025 | $667M | +43% | 30.1% | $114M | $4.6M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $676M | +52% | 31.1% | $162M | −$110M |
| Q1 2025 | 10-Q | May 5, 2025 | $502M | +54% | 30.1% | $89.9M | −$26.0M |
Charts
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📈Investments: gains and what it boughtinteractive
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About FTAI Aviation
FTAI Aviation Ltd. (Nasdaq: FTAI) is a Cayman Islands exempted company. Except as otherwise specified, “we”, “us”, “our”, “FTAI”, “FTAI Aviation” or “the Company” refer to us and our consolidated subsidiaries. We are a leading independent engine maintenance platform focused on the CFM56-5B, CFM56-7B and V2500 aircraft engines which power the 737NG and A320ceo aircraft. We repair and rebuild engines in our maintenance facilities and with our joint venture partners, and sell or lease the engines to airlines and asset owners around the world. Our primary business model is to sell or lease engines via exchange through our proprietary Maintenance, Repair and Exchange (“MRE”) model which is reported under our Aerospace Products segment.
In its own words, from its 10-K, filed Feb 27, 2026.
FTAI Aviation against its Services-Miscellaneous Equipment Rental & Leasing peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +47% against the peers' median +11%. Operating margin: 22.4% against the peers' median 21.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FTAI FTAI Aviation | Q3 2026 | $978M | +47% | 22.4% |
| HRI Herc Holdings | Q3 2026 | $1.4B | +5% | 8.8% |
| WSC WillScot Holdings | Q3 2026 | $601M | +6% | 21.0% |
| NPKI NPK International | Q3 2026 | $76.3M | +11% | 12.0% |
Source: FTAI Aviation 10-Q on SEC EDGAR · CIK 1590364 · Services-Miscellaneous Equipment Rental & Leasing
Guidance and outlook
More on FTAI
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results