AerCap Holdings N.V. Reports Q3 Results

NEW YORK – AerCap Holdings N.V. (NYSE:AER) reported third quarter results that beat revenue expectations and raised its full-year earnings guidance, sending shares up 0.71% in early trading Wednesday.

The aircraft leasing company posted adjusted earnings per share of $2.41, just missing the analyst consensus of $2.42. However, revenue came in at $1.95 billion, surpassing estimates of $1.92 billion.

AerCap raised its full-year 2024 adjusted earnings per share guidance to approximately $10.70, up from its previous outlook of $10.25. This still falls short of the $11.24 consensus analyst estimate.

> "This was another strong quarter for AerCap. Demand for aircraft remains high, as evidenced by our 99% utilization rate, 92% extension rate for used aircraft and 27% gain-on-sale margin for the quarter," said CEO Aengus Kelly.

The company reported basic lease rents of $1.61 billion for Q3, up 2% YoY. Net gain on sale of assets was $102 million, down from $130 million in Q3 2023.

AerCap's average cost of debt increased to 4.0% in Q3 2024 from 3.5% in the same period last year.

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