FTAI Aviation Ltd 2Q26, Review: Focus on off balance sheet SCI investments is driving lower near-term leasing earnings and guidance, but newly established 2027 outlook points to nearly 60% adjusted EBITDA growth; increased Power segment disclosure should support a less volatile and high

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FTAI Aviation Ltd 2Q26, Review: Focus on off balance sheet SCI investments is driving lower near-term leasing earnings and guidance, but newly established 2027 outlook points to nearly 60% adjusted EBITDA growth; increased Power segment disclosure should support a less volatile and high

in some conservatism on production and earnings ramp, affording Price Performance Exchange-NYSE

potential upside to the newly minted guidance. When combined with corporate expense that we 52 Week range USD 323.51-113.43

suspect could be reduced roughly $8-10mm a quarter next year (given reduced R&D spending

on Power), we see our updated consolidated adjusted EBITDA shaking out to roughly $2.2bn in

2027, which is nearly identical to our prior estimate, with Power having lower than previously

expected contribution but offset by higher contribution from the core Aerospace Products

business. While some bullish investors may have been looking for more, we nonetheless see

forecast adjusted EBITDA growth of over 60% as more than compelling, especially considering

FTAI shares trade roughly 11x EV / 2027E EBITDA. Importantly, we see EPS potentially more than

Source: LSEG Data & Analytics, Bloomberg

doubling over the course of the next year. Beyond the updated 2026 outlook and new 2027 Link to Barclays Live for interactive charting

guidance, the company also provided greater details on the recently announced $1.465bn

customer backlog in the Power business, expanded shop capacity in the core Aerospace

North America TransportationProducts business with partnerships in Egypt and Indonesia, and launched the second SCI fund

Brandon R. Oglenski

which began making aircraft acquisition commitments. We realize the near-term guidance

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