- AerCap Holdings N.V. (NYSE:AER) reported first-quarter total revenues and other income growth of 63% year-over-year to $1.79 billion, beating the consensus of $1.66 billion.
- Basic lease rents totaled $1.55 billion (+75% Y/Y) due to the impact of the GECAS acquisition.
- Adjusted EPS was $2.23, beating the consensus of $1.34.
- AER's net cash provided by operating activities for Q1 totaled $1.34 billion, compared to $400.35 million in 1Q21.
- The company's Adjusted debt/equity ratio was 2.9 to 1 at March 31, 2022.
- AER executed 157 transactions in Q1, including 102 lease agreements, 25 purchases, and 30 sales.
- AerCap's portfolio consisted of 3,615 aircraft, engines, and helicopters owned, on order, or managed as of March 31, 2022. The average age of the owned aircraft fleet as of March 31, 2022, was 7.0 years and the average remaining contracted lease term was 7.3 years.
- The company removed 22 aircraft and 3 engines outside of Russia, and 113 aircraft and 11 engines remain in Russia.
- The company submitted an insurance claim for ~$3.5 billion for all aircraft and engines remaining in Russia and intends to pursue all claims under these policies.
- Price Action: AER shares are trading higher by 6.87% at $48.51 during the market session on Tuesday.
