Willis Lease Finance Corporation Reports 29.4% Revenue Growth to $195.5 Million in Latest Quarter

Willis Lease Finance Corporation reported significant financial growth in its latest quarterly results, with total revenue reaching $195.5 million for the three months ended June 30, 2025, a 29.4% increase from $151.1 million in the same period last year. The company's net income also saw a substantial rise, climbing to $60.4 million, compared to $42.6 million in the prior year, resulting in a basic earnings per share of $8.68, up from $6.34. The increase in revenue was driven by a notable rise in lease rent revenue, which increased by 29.4% to $72.3 million, and a remarkable 390.7% surge in spare parts and equipment sales, which totaled $30.4 million.

In comparison to the previous fiscal period, Willis Lease Finance experienced a 30.7% increase in total revenue for the six months ended June 30, 2025, amounting to $353.2 million, up from $270.2 million in the same period of 2024. The company’s net income for the first half of 2025 was $77.2 million, compared to $63.5 million in the prior year. The growth in revenue was attributed to an expanded portfolio and increased utilization rates, with average utilization rising to 88.3% as of June 30, 2025.

Strategically, the company completed a significant transaction by selling its entire issued share capital of Bridgend Asset Management Limited for $45 million, resulting in a gain of approximately $43 million. This sale reflects Willis Lease's ongoing efforts to optimize its asset portfolio. Additionally, the company has been actively managing its equipment lease portfolio, which included $2.6 billion in equipment held for operating lease as of June 30, 2025, a slight decrease from $2.6 billion at the end of 2024.

Operationally, Willis Lease reported a total of 69 lessees across 36 countries, with a diverse portfolio that includes 348 engines and 15 aircraft. The company’s cash and cash equivalents increased significantly to $37.3 million, alongside $745.3 million in restricted cash, indicating improved liquidity. The total debt obligations rose to $2.8 billion, reflecting the company’s strategy to finance growth through secured borrowings. The company maintained compliance with all financial covenants associated with its debt obligations.

Looking ahead, Willis Lease Finance Corporation remains cautious about potential market fluctuations, including changes in interest rates and inflation, which could impact its operations and financial performance. The company plans to continue evaluating its business strategies to adapt to these market conditions while focusing on maximizing the value of its leasing portfolio.