Strong Full-Year Earnings Growth
Adjusted earnings available to common shareholders of $2.27 for 2025, up from $0.97 in 2024, representing a 134% increase year-over-year.
Quarterly EPS Improvement
Q4 adjusted earnings per common share of $0.57, up $0.23 or 68% versus Q4 2024, primarily driven by lower net interest expense.
Capital Return and Shareholder-Friendly Actions
Annual dividend increased from $0.32 to $0.44 (a 38% increase); announced quarterly dividend of $0.11 and commitment to purchase up to $100 million of shares over 4 years plus an NCIB (~2M shares).
Aggressive Share Buybacks Executed
Repurchased $85.2 million of shares in 2025 and $124 million since 2022, representing approximately 19% of outstanding shares repurchased since 2022.
M&A and Strategic Acquisitions
Agreement to acquire Kadex Aero Supply for ~ $50 million (~7.5x EBIT), $43 million funded at close; acquisition expected to be immediately accretive to earnings and free cash flow. Also completed acquisition of Elisen & Associates in 2025.
Solid Liquidity and Near-Term Cash Inflows
Year-end available liquidity of $169 million and expected realized net proceeds of ~USD 56 million (~CAD 78 million) from sales of remaining Dash 8-400s between Feb–Jul 2026.
Guidance and Multi-Year Cash Generation Outlook
2026 guidance: adjusted EBITDA of $170M–$185M and free cash flow of $100M–$110M. Management anticipates $500M–$550M in free cash flow and net proceeds on asset sales over the next four years.
Business Momentum and Operational Wins
Jazz delivered steady contracted earnings, completed a cabin refurbishment program, expanded U.S. flying from Billy Bishop, and secured a new 5-year collective agreement with maintenance employees. Voyageur and Elisen achieved defense and specialty MRO wins and pipeline expansion.