AerCap reports Q3 EPS $1.79, consensus $1.58
Reports Q3 revenue $1.16B, consensus $1.18B. Highlights for the quarter include: 87 aircraft transactions executed in the third quarter of 2018, including 20 widebody transactions. Over 90% of new aircraft deliveries through 2020 leased. 6.6 years average age of owned fleet and 7.1 years average remaining lease term. 99.4% fleet utilization rate for the third quarter of 2018. $11B of available liquidity and adjusted debt/equity ratio of 2.7 to 1. Book value per share of $61.24, an increase of 11% since September 30, 2017. Repurchased 1.5M shares in the third quarter of 2018 for $87M. New $200M share repurchase program authorized, which will run through March 31, 2019. CEO Aengus Kelly, "I am pleased to announce another strong quarter for AerCap with earnings per share of $1.79 and 11% growth in book value per share year over year. This consistent profitability shows the resilience and consistency of our platform. We continue to actively place our new orders and look forward to delivering over 200 new aircraft by the end of 2020 to drive the continued success of the company."