AerCap Analysts Increase Their Forecasts Following Upbeat Q4 Earnings

AerCap Holdings N.V. AER reported upbeat earnings for its fourth quarter on Friday.

Total revenues and other income rose 4% to $1.899 billion, missing the consensus of $1.926 billion. Adjusted EPS of $3.11 beat the analyst consensus of $2.45, according to data from Benzinga Pro.

Basic lease rents were $1.576 billion in the fourth quarter, up 6% Y/Y, impacted by $40 million of lease premium amortization. During the fourth quarter of 2023, the company recognized recoveries related to the Ukraine Conflict of $614 million.
In February 2024, the Board of Directors approved a new share repurchase program authorizing total repurchases of up to $500 million of shares through September 30, 2024.

“These results reflect the continued strong operating environment across our businesses and the positive momentum for leasing and sales of aircraft, engines and helicopters,” Aengus Kelly, Chief Executive Officer of AerCap, said. “Given the strong tailwinds that we see for demand for aircraft, engines and helicopters, we are confident about the outlook for AerCap in 2024 and beyond.”

AerCap shares fell 0.9% to close at $77.85 on Friday.

These analysts made changes to their price targets on AerCap after the company reported quarterly results.

• Barclays raised the price target on AerCap from $84 to $93. Barclays analyst Mark Devries maintained an Overweight rating.
• Susquehanna boosted the price target on AerCap from $80 to $90. Susquehanna analyst Christopher Stathoulopoulos maintained a Positive rating.

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