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AerCap Holdings N.V. announced a significant engine order for 150 new CFM LEAP engines valued at around $3 billion. They also introduced a new $500 million share repurchase authorization and their first cash dividend of $0.25 per share. These initiatives reflect AerCap's confidence in future profits and cash flows, emphasizing value creation for shareholders.
AerCap Holdings N.V. has filed an interim financial report for the first quarter of 2024. The report includes unaudited condensed consolidated financial statements and notes. The Form 6-K can be accessed on the Company's website and the SEC's website.
AerCap Holdings N.V. reported strong financial results for Q1 2024 with net income of $604 million, or $3.02 per share, and adjusted net income of $658 million, or $3.29 per share. Full-year 2024 adjusted EPS guidance raised to approximately $9.20. Return on equity at 14%, adjusted debt/equity ratio of 2.40 to 1, unlevered gain on sale margin of 21%, and operating cash flow of $1.4 billion. Book value per share increased by 27% from the previous year. Revenue and other income increased by 8% to $2.018 billion with strong performance in lease revenue, net gain on asset sales, and other income. AerCap's strong start to the year led to a shareholder return of $336 million through share repurchases. The company's financial position remains robust with total cash, cash equivalents, and restricted cash at $1.485 billion.
