Willis Lease Finance Corporation Reports Record Second Quarter 2025 Financial Results
Willis Lease Finance Corporation (NASDAQ: WLFC), a leading aircraft engine lessor, reported exceptional Q2 2025 results with record-breaking performance. The company achieved record quarterly revenue of $195.5 million, up 29.4% year-over-year, and record pre-tax income of $74.3 million.
Key highlights include lease rent revenue of $72.3 million (up 29.4%), maintenance reserve revenue of $50.7 million, and spare parts sales of $30.4 million. The company's portfolio utilization improved to 88.3% from 76.7% at 2024 year-end. Additionally, WLFC sold its UK aviation consultancy business (BAML) to WMES joint venture for a $43.0 million gain.
As of June 30, 2025, WLFC's lease portfolio valued at $2,830.0 million comprises 348 engines, 15 aircraft, one marine vessel, and other leased equipment.
Willis Lease Finance Corporation (NASDAQ: WLFC), un importante locatore di motori aeronautici, ha riportato risultati eccezionali nel secondo trimestre 2025 con performance da record. La società ha raggiunto un ricavo trimestrale record di 195,5 milioni di dollari, in aumento del 29,4% su base annua, e un utile ante imposte record di 74,3 milioni di dollari.
Tra i principali punti salienti si evidenziano un ricavo da canoni di locazione di 72,3 milioni di dollari (in crescita del 29,4%), un ricavo dalle riserve di manutenzione di 50,7 milioni di dollari e vendite di pezzi di ricambio per 30,4 milioni di dollari. L'utilizzo del portafoglio della società è migliorato raggiungendo l'88,3% rispetto al 76,7% a fine 2024. Inoltre, WLFC ha venduto la sua attività di consulenza aeronautica nel Regno Unito (BAML) alla joint venture WMES, generando un guadagno di 43,0 milioni di dollari.
Al 30 giugno 2025, il portafoglio di leasing di WLFC, valutato 2.830,0 milioni di dollari, comprende 348 motori, 15 aeromobili, una nave marittima e altre attrezzature in leasing.
Willis Lease Finance Corporation (NASDAQ: WLFC), un arrendador líder de motores de aeronaves, reportó resultados excepcionales en el segundo trimestre de 2025 con un desempeño récord. La compañía alcanzó un ingreso trimestral récord de 195,5 millones de dólares, un aumento del 29,4% interanual, y un ingreso antes de impuestos récord de 74,3 millones de dólares.
Los aspectos destacados incluyen un ingreso por renta de arrendamiento de 72,3 millones de dólares (incremento del 29,4%), ingreso por reservas de mantenimiento de 50,7 millones de dólares y ventas de repuestos por 30,4 millones de dólares. La utilización de la cartera de la empresa mejoró a 88,3% desde el 76,7% al cierre de 2024. Además, WLFC vendió su negocio de consultoría aeronáutica en el Reino Unido (BAML) a la empresa conjunta WMES, obteniendo una ganancia de 43,0 millones de dólares.
Al 30 de junio de 2025, la cartera de arrendamiento de WLFC, valorada en 2.830,0 millones de dólares, comprende 348 motores, 15 aeronaves, un buque marítimo y otros equipos arrendados.
Willis Lease Finance Corporation (NASDAQ: WLFC), 선도적인 항공기 엔진 리스 회사가 2025년 2분기에 기록적인 성과를 달성하며 탁월한 실적을 보고했습니다. 회사는 분기별 매출액 1억 9,550만 달러로 전년 동기 대비 29.4% 증가했으며, 세전 이익 7,430만 달러를 기록했습니다.
주요 하이라이트로는 리스 임대 수익 7,230만 달러(29.4% 증가), 정비 준비금 수익 5,070만 달러, 예비 부품 판매 3,040만 달러가 포함됩니다. 회사의 포트폴리오 활용률은 2024년 말 76.7%에서 88.3%로 향상되었습니다. 또한 WLFC는 영국 항공 컨설팅 사업(BAML)을 WMES 합작 투자사에 매각하여 4,300만 달러의 이익을 실현했습니다.
2025년 6월 30일 기준 WLFC의 리스 포트폴리오는 28억 3,000만 달러 규모로 348대의 엔진, 15대의 항공기, 1척의 해양 선박 및 기타 임대 장비로 구성되어 있습니다.
Willis Lease Finance Corporation (NASDAQ: WLFC), un leader dans la location de moteurs d’avions, a annoncé des résultats exceptionnels pour le 2e trimestre 2025 avec des performances record. La société a atteint un chiffre d’affaires trimestriel record de 195,5 millions de dollars, en hausse de 29,4 % sur un an, ainsi qu’un résultat avant impôts record de 74,3 millions de dollars.
Les points clés incluent un revenu de loyers de location de 72,3 millions de dollars (en hausse de 29,4 %), un revenu de réserves de maintenance de 50,7 millions de dollars et des ventes de pièces détachées de 30,4 millions de dollars. L’utilisation du portefeuille de la société s’est améliorée pour atteindre 88,3 %, contre 76,7 % à la fin de 2024. De plus, WLFC a vendu son activité de conseil aéronautique au Royaume-Uni (BAML) à la coentreprise WMES, générant un gain de 43,0 millions de dollars.
Au 30 juin 2025, le portefeuille de locations de WLFC, évalué à 2 830,0 millions de dollars, comprend 348 moteurs, 15 avions, un navire maritime et d’autres équipements loués.
Willis Lease Finance Corporation (NASDAQ: WLFC), ein führender Vermieter von Flugzeugtriebwerken, meldete außergewöhnliche Ergebnisse für das 2. Quartal 2025 mit rekordverdächtigen Leistungen. Das Unternehmen erzielte einen rekordverdächtigen Quartalsumsatz von 195,5 Millionen US-Dollar, ein Plus von 29,4 % im Jahresvergleich, sowie einen rekordverdächtigen Vorsteuergewinn von 74,3 Millionen US-Dollar.
Zu den wichtigsten Highlights zählen Mieteinnahmen aus Leasing in Höhe von 72,3 Millionen US-Dollar (plus 29,4 %), Einnahmen aus Wartungsrückstellungen von 50,7 Millionen US-Dollar und Erlöse aus Ersatzteilverkäufen von 30,4 Millionen US-Dollar. Die Auslastung des Portfolios verbesserte sich von 76,7 % Ende 2024 auf 88,3 %. Darüber hinaus verkaufte WLFC sein britisches Luftfahrtberatungsunternehmen (BAML) an das Gemeinschaftsunternehmen WMES und erzielte dabei einen Gewinn von 43,0 Millionen US-Dollar.
Zum 30. Juni 2025 umfasst das Leasingportfolio von WLFC im Wert von 2.830,0 Millionen US-Dollar 348 Triebwerke, 15 Flugzeuge, ein Marineschiff und weitere geleaste Ausrüstungen.
- Record quarterly revenue of $195.5 million, up 29.4% year-over-year
- Record pre-tax income of $74.3 million
- Portfolio utilization increased significantly to 88.3% from 76.7%
- $43.0 million gain from sale of aviation consultancy business
- Lease rent revenue grew 29.4% to $72.3 million
- Spare parts and equipment sales increased by $24.2 million to $30.4 million
- Maintenance reserve revenue up 9.5% to $50.2 million
- Slight decrease in lease portfolio value from $2,872.3 million to $2,830.0 million
- Reduction in total engines from 354 to 348 in the lease portfolio
Insights
WLFC reports exceptional Q2 with record revenue of $195.5M and pre-tax income of $74.3M, driven by strong aviation market conditions.
Willis Lease Finance Corporation has delivered its strongest quarter ever with record pre-tax income of
The results reflect a robust aviation market environment where airlines are increasingly turning to WLFC's solutions to avoid expensive and time-consuming engine shop visits. This trend is evident in the company's lease rent revenue, which increased
A significant portion of the exceptional results came from non-recurring items, particularly the
The company also benefited from
Portfolio utilization has improved substantially, reaching
Even when excluding one-time gains, the core lease and maintenance reserve revenues grew by
The total book value of WLFC's lease assets (owned directly or through joint ventures) stood at
Delivers Record Pre-Tax Income of
COCONUT CREEK, Fla., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), the leading lessor of commercial aircraft engines and global provider of aviation services, today announced its financial results for the second quarter ended June 30, 2025.
Second Quarter 2025 Highlights (All metrics compared to second quarter 2024, except where noted)
- Record quarterly total revenue of
$195.5 million , an increase of29.4% - Record quarterly pre-tax income of
$74.3 million - Lease rent revenue of
$72.3 million , an increase of29.4% - Strong maintenance reserve revenue of
$50.7 million with short-term recurring maintenance reserve revenue up9.5% - Spare parts and equipment sales of
$30.4 million , an increase of$24.2 million $43.0 million gain on sale of aviation consultancy business to Willis Mitsui & Company Engine Support Limited (“WMES”) joint venture- Portfolio utilization increased to
88.3% at quarter end, compared to76.7% at year end 2024
For the three months ended June 30, 2025, total revenue was
“Quarter 2 was WLFC’s strongest quarter ever,” said Austin C. Willis, Chief Executive Officer of WLFC, “Even when adjusting for unique events on both the revenue and expense side, the underlying performance of the business, demonstrated by record lease revenues, increased utilization and solid recurring reserves, was exceptional.”
Second Quarter 2025 Operating Results
Engines on lease with “non-reimbursable” usage fees generated
Spare parts and equipment sales increased to
For the quarter ended June 30, 2025, the gain on sale of leased equipment was
The Company sold Bridgend Asset Management Limited (“BAML”), our United Kingdom aviation consultancy business, to our WMES joint venture, resulting in a gain on sale of business of approximately
The book value of lease assets owned either directly or through WLFC’s joint ventures, inclusive of the Company’s equipment held for operating lease, maintenance rights, notes receivable, and investments in sales-type leases was
Balance Sheet
As of June 30, 2025, the Company’s lease portfolio was
Conference Call
WLFC will hold a conference call led by the executive management team today at 10:00 a.m. Eastern Time to discuss its second quarter 2025 results.
To participate in the conference call, please use the following dial-in numbers:
U.S. and Canada: +1 (800) 289-0459
International: +1 (646) 828-8082
Conference ID: 101023
A digital replay will be available two hours after the completion of the conference call. To access the replay, please visit our website at www.wlfc.global under the Investor Relations section for details.
About Willis Lease Finance Corporation
Willis Lease Finance Corporation leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair and overhaul providers worldwide. These leasing activities are integrated with various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Additionally, through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services.
Forward-Looking Statements
Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Generally, these statements can be identified by the use of words such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Any forward-looking statement made by the Company is based only on information currently available to the Company and speaks only as of the date on which it is made. We undertake no obligation to update them, except as may be required by law. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and pandemics; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors, as well as the impact of new or increased tariffs; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing reports filed with the Securities and Exchange Commission.
Unaudited Condensed Consolidated Statements of Income
(In thousands, except per share data)
| Three months ended June 30, | Six months ended June 30, | ||||||||||||||||
| 2025 | 2024 | % Change | 2025 | 2024 | % Change | ||||||||||||
| REVENUE | |||||||||||||||||
| Lease rent revenue | $ | 72,268 | $ | 55,866 | 29.4 | % | $ | 140,007 | $ | 108,747 | 28.7 | % | |||||
| Maintenance reserve revenue | 50,743 | 62,897 | (19.3 | )% | 105,602 | 106,767 | (1.1 | )% | |||||||||
| Spare parts and equipment sales | 30,354 | 6,186 | 390.7 | % | 48,594 | 9,474 | 412.9 | % | |||||||||
| Interest revenue | 3,649 | 2,284 | 59.8 | % | 7,583 | 4,553 | 66.5 | % | |||||||||
| Gain on sale of leased equipment | 27,582 | 14,428 | 91.2 | % | 32,019 | 23,629 | 35.5 | % | |||||||||
| Gain on sale of financial assets | — | — | nm | 378 | — | nm | |||||||||||
| Maintenance services revenue | 8,031 | 6,781 | 18.4 | % | 13,617 | 12,008 | 13.4 | % | |||||||||
| Other revenue | 2,875 | 2,678 | 7.4 | % | 5,434 | 5,025 | 8.1 | % | |||||||||
| Total revenue | 195,502 | 151,120 | 29.4 | % | 353,234 | 270,203 | 30.7 | % | |||||||||
| EXPENSES | |||||||||||||||||
| Depreciation and amortization expense | 27,550 | 22,167 | 24.3 | % | 52,574 | 44,653 | 17.7 | % | |||||||||
| Cost of spare parts and equipment sales | 28,102 | 5,437 | 416.9 | % | 43,425 | 8,142 | 433.3 | % | |||||||||
| Cost of maintenance services | 8,621 | 5,671 | 52.0 | % | 13,950 | 11,245 | 24.1 | % | |||||||||
| Write-down of equipment | 11,458 | — | nm | 13,567 | 261 | 5,098.1 | % | ||||||||||
| General and administrative | 50,429 | 34,687 | 45.4 | % | 98,149 | 64,268 | 52.7 | % | |||||||||
| Technical expense | 7,508 | 4,518 | 66.2 | % | 13,738 | 12,773 | 7.6 | % | |||||||||
| Net finance costs: | |||||||||||||||||
| Interest expense | 33,569 | 24,562 | 36.7 | % | 65,663 | 47,565 | 38.0 | % | |||||||||
| Total net finance costs | 33,569 | 24,562 | 36.7 | % | 65,663 | 47,565 | 38.0 | % | |||||||||
| Total expenses | 167,237 | 97,042 | 72.3 | % | 301,066 | 188,907 | 59.4 | % | |||||||||
| Income from operations | 28,265 | 54,078 | (47.7 | )% | 52,168 | 81,296 | (35.8 | )% | |||||||||
| Gain on sale of business | 42,950 | — | nm | 42,950 | — | nm | |||||||||||
| Income from joint ventures | 3,082 | 3,825 | (19.4 | )% | 4,433 | 6,499 | (31.8 | )% | |||||||||
| Income before income taxes | 74,297 | 57,903 | 28.3 | % | 99,551 | 87,795 | 13.4 | % | |||||||||
| Income tax expense | 13,920 | 15,317 | (9.1 | )% | 22,305 | 24,340 | (8.4 | )% | |||||||||
| Net income | 60,377 | 42,586 | 41.8 | % | 77,246 | 63,455 | 21.7 | % | |||||||||
| Preferred stock dividends | 1,353 | 910 | 48.7 | % | 2,676 | 1,810 | 47.8 | % | |||||||||
| Accretion of preferred stock issuance costs | 69 | 12 | 475.0 | % | 139 | 24 | 479.2 | % | |||||||||
| Net income attributable to common shareholders | $ | 58,955 | $ | 41,664 | 41.5 | % | $ | 74,431 | $ | 61,621 | 20.8 | % | |||||
| Basic weighted average income per common share | $ | 8.68 | $ | 6.34 | $ | 11.11 | $ | 9.51 | |||||||||
| Diluted weighted average income per common share | $ | 8.43 | $ | 6.21 | $ | 10.64 | $ | 9.22 | |||||||||
| Basic weighted average common shares outstanding | 6,789 | 6,570 | 6,698 | 6,479 | |||||||||||||
| Diluted weighted average common shares outstanding | 6,990 | 6,714 | 6,995 | 6,687 | |||||||||||||
Unaudited Condensed Consolidated Balance Sheets
(In thousands, except per share data)
| June 30, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| Cash and cash equivalents | $ | 37,267 | $ | 9,110 | ||||
| Restricted cash | 745,268 | 123,392 | ||||||
| Equipment held for operating lease, less accumulated depreciation | 2,606,593 | 2,635,910 | ||||||
| Maintenance rights | 34,734 | 31,134 | ||||||
| Equipment held for sale | 13,191 | 12,269 | ||||||
| Receivables, net | 37,644 | 38,291 | ||||||
| Spare parts inventory | 63,609 | 72,150 | ||||||
| Investments | 91,123 | 62,670 | ||||||
| Property, equipment & furnishings, less accumulated depreciation | 62,653 | 48,061 | ||||||
| Intangible assets, net | 271 | 2,929 | ||||||
| Notes receivable, net | 171,846 | 183,629 | ||||||
| Investments in sales-type leases, net | 16,779 | 21,606 | ||||||
| Other assets | 65,467 | 56,045 | ||||||
| Total assets | $ | 3,946,445 | $ | 3,297,196 | ||||
| LIABILITIES, REDEEMABLE PREFERRED STOCK AND SHAREHOLDERS’ EQUITY | ||||||||
| Liabilities: | ||||||||
| Accounts payable and accrued expenses | $ | 86,720 | $ | 75,983 | ||||
| Deferred income taxes | 203,726 | 185,049 | ||||||
| Debt obligations | 2,800,643 | 2,264,552 | ||||||
| Maintenance reserves | 113,121 | 97,817 | ||||||
| Security deposits | 24,204 | 23,424 | ||||||
| Unearned revenue | 36,833 | 37,911 | ||||||
| Total liabilities | 3,265,247 | 2,684,736 | ||||||
| Redeemable preferred stock ( | 63,261 | 63,122 | ||||||
| Shareholders’ equity: | ||||||||
| Common stock ( | 76 | 72 | ||||||
| Paid-in capital in excess of par | 56,000 | 50,928 | ||||||
| Retained earnings | 562,121 | 491,439 | ||||||
| Accumulated other comprehensive (loss) income, net of tax | (260 | ) | 6,899 | |||||
| Total shareholders’ equity | 617,937 | 549,338 | ||||||
| Total liabilities, redeemable preferred stock and shareholders’ equity | $ | 3,946,445 | $ | 3,297,196 | ||||
| CONTACT: | Scott B. Flaherty |
| Executive Vice President & Chief Financial Officer | |
| 561.413.0112 |
FAQ
What were Willis Lease Finance's (WLFC) key financial results for Q2 2025?
How much did WLFC's portfolio utilization improve in Q2 2025?
What was the value of WLFC's sale of its aviation consultancy business?
What is the current size of Willis Lease Finance's lease portfolio as of Q2 2025?
How much did WLFC's spare parts and equipment sales grow in Q2 2025?
