Willis Lease Finance Corporation (WLFC) reported its financial results for the second quarter and first half of 2026, revealing a total revenue of $194.0 million for the three months ended June 30, 2026, a slight decrease of 0.8% compared to $195.5 million in the same period of 2025. For the six months ended June 30, 2026, total revenue increased by 9.9% to $388.4 million, up from $353.2 million in the prior year. The company’s net income attributable to common shareholders for the second quarter was $28.7 million, down from $59.0 million in the same quarter last year, while net income for the first half of 2026 was $52.4 million, compared to $74.4 million in 2025.
The company experienced notable changes in its revenue streams. Lease rent revenue increased by 6.7% to $77.1 million in Q2 2026, attributed to a larger average portfolio size. However, maintenance reserve revenue fell by 8.4% to $46.5 million, and spare parts and equipment sales dropped significantly by 30.2% to $21.2 million. Interest revenue also saw a substantial decline of 67.6%, reflecting a lower balance of notes receivable. The company reported a gain on the sale of leased equipment of $32.0 million, up from $27.6 million in the previous year, indicating a positive trend in asset disposals.
Operationally, WLFC's equipment held for operating lease totaled $2.78 billion as of June 30, 2026, a slight decrease from $2.80 billion at the end of 2025. The company managed to maintain a customer base of 73 lessees across 42 countries, although the average utilization rate of its equipment decreased slightly to 85.0% from 87.2% year-over-year. The company also expanded its management and advisory fees significantly, reporting $5.5 million in Q2 2026, a 113.4% increase from the previous year, largely due to new partnerships with investment funds.
In terms of strategic developments, WLFC announced plans to acquire 100% of the equity interests in certain aircraft leasing entities for approximately $379.3 million, which includes a portfolio of leased aircraft and engines. This acquisition is expected to enhance the company’s operational capacity and market presence. Additionally, the company executed a three-for-one forward stock split on July 17, 2026, aimed at increasing liquidity and making shares more accessible to investors.
Looking ahead, WLFC remains cautious about potential impacts from macroeconomic factors such as interest rates and inflation. The company has indicated that it will continue to evaluate these risks while focusing on its growth strategy through acquisitions and partnerships. The outlook for the remainder of 2026 suggests a commitment to maintaining operational efficiency and exploring new revenue opportunities, despite the challenges posed by market conditions.
About WILLIS LEASE FINANCE CORP
Willis Lease Finance Corporation is a leading lessor and servicer of commercial aircraft, engines, and related equipment. It generates revenue through leasing, management fees, and spare parts sales, serving global airlines, MROs, and aircraft operators. The company focuses on asset management, lease portfolio optimization, and aftermarket services, leveraging technical expertise, diversified markets, and strategic joint ventures to provide flexible leasing solutions and maximize asset value.
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