Willis Lease Finance ( (WLFC) ) has released its Q4 earnings. Here is a breakdown of the information Willis Lease Finance presented to its investors.
Willis Lease Finance Corporation, a prominent player in the aviation leasing industry, specializes in leasing spare commercial aircraft engines and auxiliary power units to airlines and other aviation entities worldwide. The company integrates its leasing activities with engine and aircraft trading, asset management, and maintenance services.
In its latest earnings report, Willis Lease Finance Corporation announced record-breaking financial results for 2024, with total revenues reaching $569.2 million and pre-tax income soaring to $152.6 million. This remarkable growth was largely fueled by the strong performance of the aviation market, which boosted lease rent and maintenance reserve revenues to unprecedented levels.
Key financial highlights include a 30.4% increase in core lease rent and maintenance reserve revenues, reaching $452.1 million. The company also reported a significant rise in pre-tax income by 127.4% compared to the previous year. Additionally, the gain on the sale of leased equipment surged to $45.1 million, reflecting successful sales of engines and airframes. The book value of lease assets increased substantially, underscoring the company’s strategic investments and growth.
The company’s financial strength is further evidenced by an increase in diluted weighted average income per common share to $15.34 and a rise in book value per share to $80.74. Willis Lease Finance Corporation also expanded its credit facility to $1.0 billion, providing additional liquidity for future growth.
Looking ahead, Willis Lease Finance Corporation remains well-positioned to capitalize on the robust aviation market. The company’s strategic investments and expanded credit facility are expected to support continued growth and profitability in the coming years.