Exchange Income Corporation Earnings Recaps
Q1 2026
May 15, 2026
Shares rose 7.5% as Exchange Income Corporation delivered revenue and adjusted EBITDA growth driven by strong Aerospace & Aviation performance, a robust debt issuance, and upwardly revised guidance near the top of its range.
Key takeaways
- Revenue rose 30% to $867 million in Q1, despite a 5% negative currency translation impact.
- Adjusted EBITDA increased 27% to $166 million, reflecting strong operational leverage.
- The Aerospace & Aviation segment benefited from acquisitions (Canadian North, Mach2), improved passenger loads, and contract expansions including ISR services.
- Issued $600 million of unsecured notes (above initial $400 million plan) at 4.324%, supported by investment-grade rating and strong demand amid geopolitical volatility.
- Management raised guidance toward the upper end of the $825–$875 million revenue range, citing accelerating momentum and stable business fundamentals.
Q3 2025
Nov 10, 2025
Exchange Income Corporation reported record third-quarter results, achieving all-time highs across key financial metrics including revenue, adjusted EBITDA, and free cash flow. The successful integration of Canadian North supports positive forward momentum and cash flow expectations.
Key takeaways
- Set all-time highs in revenue, adjusted EBITDA, and net earnings, underscoring robust operational performance.
- Completed acquisition of Canadian North has bolstered market position and is on track for integration success.
- Total leverage nearing historic lows enhances balance sheet flexibility post-convertible debenture redemption.
- Demand for aerospace services driven by NATO defense spending and critical resource mining trends indicate strong growth prospects ahead.
- Adjustments to cost structures and operational efficiencies underway across segments, aimed at optimizing profitability.