Exchange Income Corporation Reports Record Q1 2026 Results with 287% Net Earnings Surge
Exchange Income Corporation (EIC) announced record financial results for the first quarter ending March 31, 2026, driven by strong operational performance in its Aerospace & Aviation and Manufacturing segments. The company reported revenue of $867 million, a 30% increase year-over-year, and Adjusted EBITDA of $166 million, up 28%. Net earnings surged 287% to $28 million, while net earnings per share rose 257% to $0.50. Free cash flow reached a record $120 million, reflecting a 48% growth compared to the previous period. Alongside these financial achievements, EIC strengthened its balance sheet by extending its credit facility to $3.5 billion as an unsecured line and issuing $600 million in senior unsecured notes. The company also secured an investment-grade corporate rating. Strategic moves included the acquisition of Mach2 and an expanded commercial agreement with Air Canada. CEO Mike Pyle highlighted the company's resilience amid geopolitical volatility and rising fuel prices, updating the fiscal 2026 Adjusted EBITDA guidance to the upper end of the $825 million to $875 million range. These results underscore EIC's stability and capacity for continued growth through both organic initiatives and strategic acquisitions.
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Exchange Income Corporation Reports Record Q1 2026 Results with 287% Net Earnings Surge
Exchange Income Corporation (EIC) announced record financial results for the first quarter ending March 31, 2026, driven by strong operational performance in its Aerospace & Aviation and Manufacturing segments. The company reported revenue of $867 million, a 30% increase year-over-year, and Adjusted EBITDA of $166 million, up 28%. Net earnings surged 287% to $28 million, while net earnings per share rose 257% to $0.50. Free cash flow reached a record $120 million, reflecting a 48% growth compared to the previous period. Alongside these financial achievements, EIC strengthened its balance sheet by extending its credit facility to $3.5 billion as an unsecured line and issuing $600 million in senior unsecured notes. The company also secured an investment-grade corporate rating. Strategic moves included the acquisition of Mach2 and an expanded commercial agreement with Air Canada. CEO Mike Pyle highlighted the company's resilience amid geopolitical volatility and rising fuel prices, updating the fiscal 2026 Adjusted EBITDA guidance to the upper end of the $825 million to $875 million range. These results underscore EIC's stability and capacity for continued growth through both organic initiatives and strategic acquisitions.
Montreal Gazette