$SARO

StandardAero, Inc.

CIK:0002025410|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 1,599,693	$ 1,528,943	$ 3,226,550	$ 2,964,531
Cost of revenue	1,330,915	1,292,768	2,718,400	2,510,626
Selling, general and administrative expense	75,597	76,002	147,539	140,477
Amortization of intangible assets	24,698	24,603	49,030	48,935
Operating income	168,483	135,570	311,581	264,493
Interest expense	41,279	43,835	79,430	87,626
Income before income taxes	127,204	91,735	232,151	176,867
Income tax expense	29,926	24,022	54,943	46,211
Net income	$ 97,278	$ 67,713	$ 177,208	$ 130,656
Earnings per share:
Basic	$ 0.3	$ 0.21	$ 0.54	$ 0.4
Diluted	$ 0.29	$ 0.2	$ 0.53	$ 0.39
Weighted-average shares of common stock outstanding
Basic	326,261	328,445	326,756	328,442
Diluted	332,310	334,300	332,858	334,227

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 177,208	$ 130,656
Adjustments to reconcile net income from operations to net cash used in operating activities:
Depreciation and amortization	93,504	97,223
Amortization of deferred finance charges and discounts	3,246	3,288
Amortization of interest cap premiums	3,379	5,467
Payment of interest rate cap premiums	(3,473)	(5,524)
Stock compensation expense	9,725	5,875
Loss (gain) from disposals, net	(622)	3,449
Non-cash lease expense	902	866
Deferred income taxes	(4,731)	(11,560)
Foreign exchange gain (loss), net	679	431
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	(160,101)	(96,589)
Contract assets, net	(130,753)	(155,634)
Inventories, net	55,770	(4,579)
Prepaid expenses and other current assets	6,237	(24,422)
Accounts payable, accrued expenses, and other current liabilities	27,750	25,885
Contract liabilities	(99,051)	20,204
Due to/from related parties	(438)	(649)
Income taxes payable and receivable	(26,458)	(15,490)
Net cash used in operating activities	(47,227)	(21,103)
Investing activities:
Acquisitions, net of cash and other	(33,263)	1,254
Purchase of property, plant and equipment	(36,641)	(47,262)
Payments for purchase of intangible assets	(476)	(30,000)
Proceeds from disposal of property, plant and equipment	828	3,637
Net cash used in investing activities	(69,552)	(72,371)
Financing activities:
Proceeds from long-term debt	235,000	345,000
Repayment of long-term debt	(126,774)	(261,785)
Repurchase of common stock	(100,085)
Repayments of long-term agreements	(911)	(1,501)
Net cash provided by financing activities	7,230	81,714
Effect of exchange rate changes on cash	(1,105)	692
Net decrease in cash	(110,654)	(11,068)
Cash at beginning of the period	289,717	102,581
Cash at end of the period	179,063	91,513
Supplemental disclosure of non-cash investing activities:
Acquisition of property, plant and equipment, liability incurred, but not paid	2,782	$ 839
Acquisition of intangible assets, liability incurred but not paid	$ 180,777

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash	$ 179,063		$ 289,717
Accounts receivable (less allowance for expected credit losses of $9,911 and $13,484, respectively)	815,633		654,390
Contract assets, net	1,202,456		1,071,703
Inventories	772,104		827,691
Prepaid expenses and other current assets	34,833		42,776
Income tax receivable	25,173		10,182
Total current assets	3,029,262		2,896,459
Property, plant and equipment, net	589,485		579,971
Operating lease right of use asset, net	224,421		222,151
Customer relationships, net	884,236		920,432
Other intangible assets, net	403,141		244,877
Goodwill	1,710,805		1,684,255
Other assets	5,932		6,434
Deferred income tax assets	2,832		2,832
Total assets	6,850,114		6,557,411
Current liabilities:
Accounts payable	711,647		679,772
Accrued expenses and other current liabilities	263,191		91,499
Accrued employee costs	81,488		74,008
Operating lease liabilities, current	25,834		22,308
Contract liabilities	312,270		411,321
Income taxes payable, current	1,317		13,547
Long-term debt, current portion	23,322		23,444
Total current liabilities	1,419,069		1,316,337
Long-term debt	2,301,848		2,191,161
Operating lease liabilities, non-current	212,041		212,365
Deferred income tax liabilities	152,437		157,206
Income taxes payable, non-current	6,533		5,770
Other non-current liabilities	4,693		7,261
Total liabilities	4,096,621		3,890,100
Commitments and contingencies (Note 11)
Stockholders' equity
Common stock ($0.01 par value, 3,500,000,000 shares authorized; 334,653,783 issued and 330,910,687 outstanding as of June 30, 2026 and 334,461,630 issued and 334,294,245 outstanding as of December 31, 2025)	3,309		3,345
Additional paid-in capital	3,967,764		3,958,039
Accumulated deficit	(1,108,696)		(1,285,904)
Accumulated other comprehensive loss	(7,884)		(8,169)
Treasury stock (at cost, 2,195,745 and 176,019 shares as of March 31, 2026 and December 31, 2025)	(101,000)
Total stockholders' equity	2,753,493	$ 2,689,724	2,667,311
Total liabilities and stockholders' equity	$ 6,850,114		6,557,411
Related Parties
Current liabilities:
Due to related parties			$ 438