AerCap Holdings N.V. reported strong financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, GAAP net income was $671 million with an EPS of $3.56, and adjusted EPS reached $3.31. Total revenues for the quarter increased by 9% year-over-year to $2.072 billion.
The company achieved a record net gain on sale of assets of $260 million in Q4 2024, resulting from the sale of 40 assets for $869 million, a 176% increase from the prior year. Full year 2024 saw a record adjusted EPS of $12.01 and generated $5.6 billion in operating cash flow.
AerCap also recognized $168 million in recoveries related to the Ukraine Conflict during the fourth quarter from cash insurance settlement proceeds. This contributed to the overall strong financial performance for the year.
In a move to enhance shareholder value, AerCap announced a new $1 billion share repurchase program. Additionally, the Board of Directors increased the quarterly cash dividend to $0.27 per share, up from $0.25 per share, with payment scheduled for April 3, 2025.
CEO Aengus Kelly noted the continued positive operating environment and high demand for leased aircraft, engines, and helicopters. Regarding Russia, Kelly stated that while Russia might look to buy used aircraft or engines if markets reopen, Western lessors are not rushing to resume renting jets, and any business would require U.S. and E.U. approval.
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