AER (59.45) reports strong Q3 earnings -
briefing -
AerCap beats by $0.44, reports revs in-line; raises FY23 EPS below consensus (59.45 ) :
Reports Q3 (Sep) earnings of $2.81 per share, excluding non-recurring items, $0.44 better than the FactSet Consensus of $2.37; revenues rose 9.7% year/year to $1.89 bln vs the $1.89 bln FactSet Consensus.
Co issues raised guidance for FY23, sees EPS of $9.50 from $8.50-9.00 vs. $9.82 FactSet Consensus.
"In October 2023, our Board of Directors approved a new share repurchase program authorizing total repurchases of up to $500 million of AerCap ordinary shares through March 31, 2024."
"This was another great quarter for AerCap. We generated adjusted net income of $639 million and adjusted earnings per share of $2.81. As a result of this strong performance and our outlook for the rest of the year, we are once again raising our guidance for the year. Our underlying business continues to perform well and demand for our assets remains robust, evidenced by the significant number of transactions completed during the quarter. We are pleased to announce a new $500 million share repurchase program, taking total authorizations to $2.65 billion so far this year and underlying our confidence in the value on offer today," said Aengus Kelly, Chief Executive Officer of AerCap.
