Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Summary of Selected Financial Information for Each Segment

Selected financial information for each segment is as follows:


	Three months ended June 30, 2026
	Engine Services			Component Repair Services		Total Segments
	(in thousands)
Revenue from external customers	$	1,424,678		$	175,015	$	1,599,693
Intersegment revenue		(19,594	)		19,594		—
Total segment revenue		1,405,084			194,609		1,599,693
Other segment items (1)		1,200,871			143,411		1,344,282
Segment Adjusted EBITDA	$	204,213		$	51,198	$	255,411
Corporate (2)							25,534
Depreciation and amortization							47,043
Interest expense							41,279
Business transformation costs (LEAP and CFM) (3)							3,698
Non-cash stock compensation expense							6,267
Integration costs and severance (4)							346
Other (5)							4,040
Income before income taxes						$	127,204

(1)

Other segment items for each reportable segment primarily includes cost of sales and other selling, general and administrative expenses.

(2)

Corporate primarily consists of costs related to executive and staff functions, including Information Technology, Human Resources, Legal, Finance, Marketing, Supply Chain, Engineering and Quality, which benefit the enterprise as a whole. These costs are primarily related to the general management of these functions on a corporate level and the design and development of programs, policies, and procedures that are then implemented in the individual segments, with each segment bearing its own cost of implementation. The Corporate function also includes expenses associated with the Company’s debt.

(3)

Represents new product industrialization costs with the business transformation of the LEAP 1A/1B engine line in San Antonio, Texas and the expansion of the Company’s CFM56 capabilities into Dallas, Texas.

(4)

Represents integration costs incurred, including any facility or platform consolidation associated with the integration of an acquisition that does not meet capitalization criteria and severance related to reduction in workforce or acquisitions. Examples of integration costs may include lease breakage or run-off fees, consulting costs, demolition costs or training costs.

(5)

Represents professional fees related to business transformation, secondary offering costs and quarterly management fees payable to Carlyle Investment Management L.L.C. and Beamer Investment Inc. under consulting services agreements, representation and warranty insurance costs associated with acquisitions, that are the result of other, non-comparable events to measure operating performance as these events arise outside of the Company’s ordinary course of continuing operations. See Note 13, “Related Party Transactions” for descriptions of the consulting services agreements with Carlyle Investment Management L.L.C. and Beamer Investment Inc.


	Six months ended June 30, 2026
	Engine Services			Component Repair Services		Total Segments
	(in thousands)
Revenue from external customers	$	2,891,257		$	335,293	$	3,226,550
Intersegment revenue		(39,029	)		39,029		—
Total segment revenue		2,852,228			374,322		3,226,550
Other segment items (1)		2,469,382			270,723		2,740,105
Segment Adjusted EBITDA	$	382,846		$	103,599	$	486,445
Corporate (2)							53,412
Depreciation and amortization							93,504
Interest expense							79,430
Business transformation costs (LEAP and CFM) (3)							10,320
Non-cash stock compensation expense							9,725
Integration costs and severance (4)							687
Other (5)							7,216
Income before income taxes						$	232,151

(1)

Other segment items for each reportable segment primarily includes cost of sales and other selling, general and administrative expenses.

(2)

(3)

(4)

(5)


	Three months ended June 30, 2025
	Engine Services			Component Repair Services		Total Segments
	(in thousands)
Revenue from external customers	$	1,373,701		$	155,242	$	1,528,943
Intersegment revenue		(23,024	)		23,024		—
Total segment revenue		1,350,677			178,266		1,528,943
Other segment items (1)		1,172,168			126,626		1,298,794
Segment Adjusted EBITDA	$	178,509		$	51,640	$	230,149
Corporate (2)							25,512
Depreciation and amortization							48,547
Interest expense							43,835
Business transformation costs (LEAP and CFM) (3)							5,264
Non-cash stock compensation expense							3,830
Integration costs and severance (4)							1,360
Other (5)							10,066
Profit before tax						$	91,735

(1)

Other segment items for each reportable segment primarily includes cost of sales and other selling general and administrative expenses.

(2)

(3)

(4)

(5)


	Six months ended June 30, 2025
	Engine Services			Component Repair Services		Total Segments
	(in thousands)
Revenue from external customers	$	2,659,977		$	304,554	$	2,964,531
Intersegment revenue		(40,987	)		40,987		—
Total segment revenue		2,618,990			345,541		2,964,531
Other segment items (1)		2,266,472			246,540		2,513,012
Segment Adjusted EBITDA	$	352,518		$	99,001	$	451,519
Corporate (2)							48,655
Depreciation and amortization							97,223
Interest expense							87,626
Business transformation costs (LEAP and CFM) (3)							18,181
Non-cash stock compensation expense							5,875
Integration costs and severance (4)							2,740
Other (5)							14,352
Income before income taxes						$	176,867

(1)

Other segment items for each reportable segment primarily includes cost of sales and other selling, general and administrative expenses.

(2)

Corporate primarily consists of costs related to executive and staff functions, including Information Technology, Human Resources, Legal, Finance, Marketing, Supply Chain and Engineering and Quality, which benefit the enterprise as a whole. These costs are primarily related to the general management of these functions on a corporate level and the design and development of programs, policies, and procedures that are then implemented in the individual segments, with each segment bearing its own cost of implementation. The Corporate function also includes expenses associated with the Company’s debt.

(3)

(4)

(5)

Represents professional fees related to business transformation, secondary offering costs, and quarterly management fees payable to Carlyle Investment Management L.L.C. and Beamer Investment Inc. under consulting services agreements, representation and warranty insurance costs associated with acquisitions, that are the result of other, non-comparable events to measure operating performance as these events arise outside of the Company’s ordinary course of continuing operations. See Note 13, “Related Party Transactions” for descriptions of the consulting services agreements with Carlyle Investment Management L.L.C. and Beamer Investment Inc.

Summary of Revenues from External Customers by Geographic Area

The following table presents revenues from external customers by geographic area based on location of the customer:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	(in thousands)
United States	$	969,988	$	817,941	$	1,922,626	$	1,652,600
United Kingdom		69,369		132,872		155,046		267,449
Canada		179,152		210,560		384,382		386,614
Rest of Europe (1)		136,578		124,241		315,149		241,688
Asia (1)		143,062		130,418		271,030		212,892
Rest of the world (1)		101,544		112,911		178,317		203,288
Total revenue	$	1,599,693	$	1,528,943	$	3,226,550	$	2,964,531

(1)

Countries grouped within Rest of Europe, Asia, and Rest of world are individually immaterial as compared to total revenue with no country representing more than 3% of total revenue for the three and six months ended June 30, 2026 and 2025.