AerCap Holdings N.V. reported strong financial results for the third quarter of 2024, with GAAP net income reaching $375 million and earnings per share of $1.95. The adjusted earnings per share stood at $2.41, matching analyst consensus expectations.
Basic lease rents for the quarter were $1,605 million, marking a 2% increase compared to the same period in 2023. The company also generated a net gain on sale of assets of $102 million from selling 22 assets for $479 million, reflecting effective asset management.
Operational metrics remained robust, with a 99% utilization rate and a 92% extension rate for used aircraft, indicating high demand for AerCap's fleet. However, leasing expenses increased by $140 million due to a credit loss provision.
Reflecting confidence in its future performance, AerCap raised its full-year 2024 adjusted EPS guidance to $10.70 from the previous $10.25. The Board of Directors also declared a quarterly cash dividend of $0.25 per share, payable on December 5, 2024.
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