Willis Lease Stock Price, News & Analysis

Willis Lease Finance Corporation (NASDAQ: WLFC) reported Q1 2022 total revenues of $68.8 million, marking an increase from last year, primarily driven by a rise in lease rent revenues of 21% to $38.1 million. However, the company faced significant challenges due to the Russian military action in Ukraine, incurring a $20.4 million impairment on two engines in Russia. Core operations improved as customer activity recovered post-pandemic, yet maintenance reserve revenue declined by 25.1% to $14.8 million. The net income was adversely impacted by asset write-downs, demonstrating the mixed results of the quarter.

Willis Lease Finance Corporation (NASDAQ:WLFC) announced lease agreements with Transportes Aéreos Guatemaltecos (TAG Airlines) for four ATR 72-500 aircraft. This five-year deal includes overhauled aircraft fitted with new Pratt & Whitney PW127M engines, enhancing the value proposition for TAG. CEO Austin C. Willis emphasized a strategic focus on growth through procurement rather than traditional leasebacks. The aircraft are noted for their efficiency and a passenger capacity of 74. The agreement also incorporates TAG into the ConstantThrust™ program, providing enhanced maintenance support.

Willis Lease Finance Corporation (NASDAQ: WLFC) announced 2021 total revenues of $274.2 million, down 5% from $288.7 million in 2020. Pre-tax profit was reported at $9.1 million. Fourth-quarter revenue increased by 23.3% from the previous year, driven by higher lease rent revenue and gains from leased equipment sales. However, long-term maintenance revenue fell by 29.8% to $74 million. The company’s aggregate lease assets grew to $2.1 billion, while diluted earnings per share decreased to $0.00 compared to $1.05 in 2020. The firm repurchased 268,408 shares for $10.1 million.

Willis Lease Finance Corporation (NASDAQ: WLFC) announces the appointment of Austin C. Willis as the new CEO, effective April 1, 2022. He succeeds Charles F. Willis, who becomes Executive Chairman. Austin has extensive experience in aviation, having served as SVP of Corporate Development at Willis Lease since 2017 and as its Board member since 2008. His background includes founding J.T. Power LLC and military service as a Green Beret. The transition aims to leverage Austin's knowledge and leadership skills for navigating market challenges and opportunities.

Willis Lease Finance Corporation (NASDAQ: WLFC) reported third quarter revenues of $70.8 million with a pre-tax profit of $6.1 million. Lease rent revenue rose to $32.9 million, up from $30.0 million year-over-year, while maintenance reserve revenue fell 26.8% to $23.7 million. Spare parts and equipment sales surged to $5.1 million from $2.9 million in the prior year. The company's total lease assets grew 22.0% year-over-year to $2,167.4 million. Despite improvements, the aviation industry faces challenges in recovery.

Willis Lease Finance Corporation (NASDAQ: WLFC) announced its investment into regional aviation by purchasing four ATR 72-500 aircraft from Investec Bank plc. This strategic acquisition aims to broaden Willis’s portfolio in regional aircraft leasing, enhancing their existing engine leasing business. The ATR 72-500, known for its efficiency, is expected to appeal to both passenger and cargo airlines. The transaction reinforces the partnership with Investec, marking a significant step in their turboprop asset management strategy.

Willis Lease Finance Corporation (NASDAQ: WLFC) reported second quarter revenues of $66.5 million, a decline of 11.4% from $75.0 million in the same quarter of 2020. The company experienced a pre-tax loss of $1.9 million, contrasting with a profit of $9.7 million a year earlier, primarily due to the pandemic's impact on global travel.

Lease rent revenue fell to $32.4 million, down from $38.5 million, while maintenance reserve revenue decreased by 42.4%. Notably, the company completed a $336.7 million asset-backed securitization and secured agreements for long-term leases with Scandinavian Airlines.

Willis Lease Finance Corporation (NASDAQ: WLFC) announced the pricing of $336.7 million in fixed-rate notes through its subsidiary, Willis Engine Structured Trust VI (WEST). The notes include Series A ($278.6 million, 3.104% coupon), Series B ($38.7 million, 5.438% coupon), and Series C ($19.4 million, 7.385% coupon). The notes will be secured by a portfolio of 29 aircraft engines and one airframe. The closing date is set for May 17, 2021. These notes are targeted at qualified institutional buyers and will not be registered under the Securities Act of 1933.

Willis Lease Finance Corporation (NASDAQ: WLFC) reported first quarter revenues of $61.1 million, a 25.1% decrease year-over-year. The company faced a pre-tax loss of $1.7 million, primarily due to the ongoing impact of the COVID-19 pandemic on global travel. Lease rent and maintenance reserve revenues totaled $51.3 million. Despite challenges, the company is innovating with new financing products and maintaining $183 million in undrawn revolver capacity. The book value per diluted share increased to $62.12.