Willis Lease Finance Corporation (NASDAQ: WLFC) has reported its financial results for the second quarter ended June 30, 2025. The company achieved record-breaking numbers across various metrics, showcasing substantial growth and performance.
Total revenue for the quarter stood at $195.5 million, marking a significant 29.4% increase from the same period in 2024, where it was $151.1 million. Lease rent revenue also saw a corresponding 29.4% increase, reaching $72.3 million.
The company's pre-tax income for the quarter hit a record high of $74.3 million, demonstrating a robust performance in the second quarter of 2025.
A notable highlight was the $43.0 million gain on the sale of the aviation consultancy business to Willis Mitsui & Company Engine Support Limited (WMES) joint venture. This strategic move contributed to the exceptional financial results for the quarter.
Portfolio utilization increased to 88.3% at the end of the quarter, compared to 76.7% at the end of 2024, showcasing an upward trend in asset utilization.
Engines on lease with “non-reimbursable” usage fees generated $50.2 million of short-term maintenance revenues, up by 9.5% compared to the same period in 2024.
Spare parts and equipment sales experienced substantial growth, reaching $30.4 million, a significant increase from $6.2 million in the second quarter of 2024. This surge was largely driven by heightened demand for surplus material as operators extended the lives of their current generation engine portfolios.
The gain on sale of leased equipment was $27.6 million, reflecting the sale of 14 engines, two airframes, and other parts and equipment from the lease portfolio. This marked a substantial increase from the net gain of $14.4 million from the same period in 2024.
Looking at the balance sheet, as of June 30, 2025, the company’s lease portfolio was $2,830.0 million, consisting of 348 engines, 15 aircraft, one marine vessel, and other leased parts and equipment. This represented a slight decrease from the lease portfolio of $2,872.3 million as of December 31, 2024, which consisted of 354 engines, 16 aircraft, one marine vessel, and other leased parts and equipment.
Following these announcements, the company's shares moved 2.39%, and are now trading at a price of $138.23. Check out the company's full 8-K submission here.
