AerCap Holdings N.V. filed an earnings press release on October 28, 2026, reporting third-quarter 2026 financial results that included record adjusted net income and raised full-year 2026 adjusted earnings per share guidance.

Key Highlights

  • Record adjusted net income: $1,009 million, or $6.56 per share, for the third quarter of 2026.
  • GAAP net income: $949 million, or $6.17 per share, for the third quarter of 2026.
  • Guidance raised: Full-year 2026 adjusted earnings per share guidance increased to approximately $20.70, before any fourth-quarter gains on sale.
  • Share repurchases: 5.3 million shares repurchased for approximately $783 million in Q3 2026; total 2026 repurchases exceeded $2.2 billion, representing approximately 10% of shares outstanding as of December 31, 2025.
  • Asset sales: 70 owned assets sold for $1.1 billion, generating $353 million of gains on sale at a 45% unlevered gain-on-sale margin in Q3 2026.
  • Quarterly dividend: $0.40 per share declared in October 2026, payable December 3, 2026, to shareholders of record as of November 11, 2026.
  • Portfolio size: 3,482 aircraft, engines, and helicopters owned, on order, or managed as of September 30, 2026.

AerCap Q3 2026 Financial Results: Revenue, Expenses, and Capital Activity

According to the filing, AerCap Holdings N.V. (NYSE:AER) reported total revenues and other income of $2,415 million for the third quarter of 2026, compared with $2,309 million for the same period in 2025, a 5% increase. Total lease revenue was $1,965 million for Q3 2026, up 4% from $1,894 million in Q3 2025. Basic lease rents were $1,698 million, while maintenance rents and other receipts were $267 million, a 31% increase year over year.

The company reported an annualized net spread of 8.1% for Q3 2026, compared with 8.0% for Q3 2025, and an adjusted debt/equity ratio of 2.0 to 1 as of September 30, 2026. The company disclosed that it is "rated BBB+/Baa1 by all three major rating agencies." Interest expense excluding mark-to-market of interest rate derivatives was $479 million, with an average cost of debt of 4.2% for Q3 2026. Selling, general and administrative expenses were $125 million for Q3 2026, down from $129 million in Q3 2025. The effective tax rate for Q3 2026 was 12.3%, compared with 14.5% for Q3 2025.

Cash flow from operating activities was $1.8 billion for the quarter, and capital expenditures were $1.9 billion, including the purchase of 32 aircraft. Book value per ordinary share outstanding, excluding unvested restricted stock, was $124.89 as of September 30, 2026, compared with $109.22 as of September 30, 2025. Total shareholders' equity stood at $18,622 million and total assets at $72,081 million as of September 30, 2026. A new $1 billion share repurchase program was also announced during the third quarter. The filing notes that the financial information presented is not audited.

What Was Disclosed

AerCap reported Q3 2026 GAAP net income of $949 million and record adjusted net income of $1,009 million, raised full-year 2026 adjusted EPS guidance to approximately $20.70, announced a new $1 billion share repurchase program, and declared a $0.40 per share quarterly dividend payable December 3, 2026.