Willis Lease Finance Corporation announced on May 6, 2025, its financial results for the first quarter ended March 31, 2025, reporting record quarterly revenue of $157.7 million. This represents a 32.5% increase compared to $119.1 million in the same period of 2024.
The company achieved a pre-tax income of $25.3 million for the quarter. Core lease rent and maintenance reserve revenues collectively rose by 27% year-over-year to $122.6 million, driven by increased portfolio utilization, which reached 86.4% at quarter-end.
Lease rent revenue specifically climbed 28.1% to $67.7 million, and maintenance reserve revenue increased 25.0% to $54.9 million. Spare parts and equipment sales also saw a substantial rise to $18.2 million, compared to $3.3 million in Q1 2024, influenced by a discrete $7.0 million sale.
General and administrative expenses were impacted by an $11.4 million increase in consultant-related fees, predominantly related to the company's sustainable aviation fuel project. WLFC also declared a quarterly dividend of $0.25 per share, reflecting its ongoing financial stability.
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