AerCap Holdings (NYSE: AER) reported Q3 EPS of $2.01, $0.07 better than the analyst estimate of $1.94. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.22 billion.

Highlights

• 12% increase in EPS year over year.
• Upgraded to BBB rating by S&P Global Ratings and placed on Positive Outlook by Moody's.
• 108 aircraft transactions executed in the third quarter of 2019.
• New technology aircraft now comprise 55% of our owned fleet.
• Over $40 billion of contracted future lease revenues.
• Approximately 97% of lease rents through 2022 already contracted.
• Average current lease expires in 2027.
• 99.8% fleet utilization rate for the third quarter of 2019.
• $2.4 billion increase in average lease assets year over year.
• 13% increase in book value per share since September 30, 2018.
• Repurchased 2.0 million shares in the third quarter of 2019 for $104 million and 9.1 million shares year to date through November 6, 2019 for $438 million.
• New $200 million share repurchase program authorized, which will run through March 31, 2020.

Aengus Kelly, CEO of AerCap, commented: "We are very pleased to report another quarter of strong results. During the third quarter of 2019 we generated earnings per share of $2.01 and net income of $270 million. The 108 aircraft transactions executed this quarter demonstrate the scale and reach of the AerCap platform. Our earnings consistency and the discipline we have shown in managing our business are reflected in S&P's recent upgrade of AerCap to BBB, another important milestone in our continuing upward ratings trajectory."

For earnings history and earnings-related data on AerCap Holdings (AER) click here.