FTAI Aviation falls after Muddy Waters says it is short on company

FTAI Aviation

15/01/2025 19:00

** Shares of aircraft lessor FTAI Aviation  FTAI.O  fall
25.2% to $114.44 in afternoon trade
    ** Muddy Waters says it is short on FTAI, claiming financial
reporting at the company to be "highly misleading"
    ** Short seller alleges that FTAI's revenue from true
maintenance and individual off-the-rack module sales are
materially lower than reported 
    ** "FTAI, in our view, is misleading investors by reporting
one-time engine sales as Maintenance Repair & Overhaul
(MRO) revenue in its Aerospace Products (AP) segment" - Muddy
Waters
    ** Company did not immediately respond to a Reuters request
for comment
    ** According to data compiled by LSEG, 3.79% of FTAI's float
was sold short as of Dec. 31, 2024
    ** FTAI shares soared 210.4% in 2024
    ** Twelve of 13 brokerages rate the stock "buy" or higher,
and one rates it "hold"; their median PT is $182.57
    ** FTAI beat topline estimates but marginally missed
bottomline when it reported Q3 results in October; it is
scheduled to report its Q4 results on Feb. 20  

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))