Exceptional Financial Performance for Willis Lease Finance in 2024

March 10, 2025 - 19:11

Willis Lease Finance has announced remarkable financial results for the year 2024, showcasing significant growth and profitability. The company reported total revenues of $569.2 million, with a pre-tax income of $152.6 million, reflecting a robust performance in the leasing sector.

One of the standout achievements was the record-high aggregate core lease rent and maintenance reserve revenues, which totaled $452.1 million. This figure represents a substantial 30.4% increase from the previous year's $346.8 million. Key financial highlights include an 11.8% rise in lease rent revenue to $238.2 million and a remarkable 60% growth in maintenance reserve revenue, reaching $213.9 million. Additionally, sales of spare parts and equipment increased to $27.1 million, while the gain on the sale of leased equipment amounted to $45.1 million.

By the end of 2024, the company's lease portfolio value had grown to $2,872.3 million, comprising 354 engines, 16 aircraft, one marine vessel, and various other equipment. In October 2024, Willis Lease Finance secured a new five-year credit facility worth $1.0 billion, further strengthening its financial position. The company also maintained a quarterly dividend of $0.25 per share, with diluted earnings per share reaching $15.34 and a book value per share of $80.74.