AerCap Holdings NV ( (AER) ) has realeased its Q3 earnings. Here is a breakdown of the information AerCap Holdings NV presented to its investors.
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AerCap Holdings N.V. is a global leader in aviation leasing, providing comprehensive fleet solutions to approximately 300 customers worldwide and is listed on the New York Stock Exchange.
In the third quarter of 2024, AerCap Holdings NV reported robust financial results, highlighted by a net income of $375 million and adjusted net income of $463 million. The company also announced an increase in its full-year adjusted earnings per share guidance, reflecting strong confidence in its future operations.
Key financial metrics for the quarter included a 27% gain-on-sale margin for assets sold, a record $5.6 billion in operating cash flow over the past twelve months, and a 16% increase in book value per share. AerCap also executed significant financing transactions worth approximately $10.5 billion and completed its inaugural Sukuk financing. The company’s debt/equity ratio stood at 2.4 to 1.
Furthermore, AerCap repurchased 5.5 million shares for $497 million and authorized an additional $500 million share repurchase program, bringing total repurchase authorizations for the year to $1.5 billion. These strategic moves are supported by a high utilization rate and an extension rate of 92% for used aircraft.
Looking forward, AerCap Holdings NV is optimistic about its growth prospects, as reflected in its increased earnings guidance and continued investment in share repurchases, highlighting its strong position in the aviation leasing industry.
