AerCap Holdings N.V. Reports Financial Results for the Third Quarter 2019 and Announces New Share Repurchase Program

DUBLIN, Nov. 8, 2019

Highlights

• 12% increase in EPS year over year.
• Upgraded to BBB rating by S&P Global Ratings and placed on Positive Outlook by Moody's.
• 108 aircraft transactions executed in the third quarter of 2019.
• New technology aircraft now comprise 55% of our owned fleet.
• Over $40 billion of contracted future lease revenues.
• Approximately 97% of lease rents through 2022 already contracted.
• Average current lease expires in 2027.
• 99.8% fleet utilization rate for the third quarter of 2019.
• $2.4 billion increase in average lease assets year over year.
• 13% increase in book value per share since September 30, 2018.
• Repurchased 2.0 million shares in the third quarter of 2019 for $104 million and 9.1 million shares year to date through November 6, 2019 for $438 million.
• New $200 million share repurchase program authorized, which will run through March 31, 2020.

Aengus Kelly, CEO of AerCap, commented: "We are very pleased to report another quarter of strong results. During the third quarter of 2019 we generated earnings per share of $2.01 and net income of $270 million. The 108 aircraft transactions executed this quarter demonstrate the scale and reach of the AerCap platform. Our earnings consistency and the discipline we have shown in managing our business are reflected in S&P's recent upgrade of AerCap to BBB, another important milestone in our continuing upward ratings trajectory."

Third Quarter 2019 Financial Results

• Net income was $270.3 million, compared with $263.4 million for the same period in 2018. Diluted earnings per share was $2.01, compared with $1.79 for the same period in 2018.
• The increase in net income was primarily driven by higher lease rents resulting from an increase in average lease assets due to the delivery of new technology aircraft from July 2018 through September 2019, as well as higher net gain on sale of assets.
• Diluted earnings per share increased 12%, driven by the same factors as net income and the repurchase of 14.7 million shares from July 2018 through September 2019.

Revenue and Net Spread

		Three months ended September 30,									Nine months ended September 30, ARIVA.DE Börsen-Geflüster Kurse Aercap Holdings NV 83,74 $ 0,00%
		2019			2018			% increase/  (decrease)			2019			2018			% increase/  (decrease)
		(U.S. Dollars in millions)									(U.S. Dollars in millions)
Lease revenue:
Basic lease rents		$1,066.6			$1,038.5			3%			$3,218.9			$3,094.5			4%
Maintenance rents and other receipts		72.6			93.9			(23)%			268.5			289.2			(7)%
Lease revenue		1,139.2			1,132.4			1%			3,487.4			3,383.7			3%
Net gain on sale of assets		40.5			20.0			103%			140.2			160.5			(13)%
Other income		14.4			14.1			2%			52.7			36.0			46%
Total Revenues and other income		$1,194.1			$1,166.5			2%			$3,680.4			$3,580.3			3%

Basic lease rents were $1,066.6 million for the third quarter of 2019, compared with $1,038.5 million for the same period in 2018. The increase was primarily due to a $2.4 billion increase in average lease assets.

Maintenance rents and other receipts were $72.6 million for the third quarter of 2019, compared with $93.9 million for the same period in 2018. The decrease was primarily due to lower maintenance revenue recognized as a result of lease terminations.

Net gain on sale of assets for the third quarter of 2019 was $40.5 million, relating to 19 aircraft sold for $561.3 million, compared with $20.0 million for the same period in 2018, relating to 13 aircraft sold for $187.5 million. The increase was primarily due to the volume and composition of asset sales.

		Three months ended September 30,									Nine months ended September 30,
		2019			2018			% increase/ decrease			2019			2018			% increase/  (decrease)
		(U.S. Dollars in millions)									(U.S. Dollars in millions)
Basic lease rents		$1,066.6			$1,038.5			3%			$3,218.9			$3,094.5			4%
Interest expense		312.3			292.1			7%			978.9			851.4			15%
Adjusted for:
Mark-to-market of interest rate caps		(3.4)			4.9			NA			(29.1)			26.0			NA
Interest expense excluding mark-to-market of interest rate caps		308.9			297.0			4%			949.8 Werbung Mehr Nachrichten zur Aercap Holdings NV Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 18.04.24 - PR Newswire BH Macro Limited - Transaction in Own Shares 18.04.24 - PR Newswire BlackRock Sustainable American Income Trust Plc - Transaction in Own Shares 18.04.24 - PR Newswire Stellar Asset Management Ltd - Form 8.3 - Equals Group Plc Auf zur INVEST am 26.+ 27.04.2024    Foto: Landesmesse Stuttgart GmbH - Jetzt kostenloses Ticket sichern! weiterlesen» Anzeige wo-site-teaser-box-16688_site-teaser-box_2024-04-17_09%253A00%253A00_2024-04-22_09%253A00%253A59