WLFC 8-K

Willis Lease Finance Corp (WLFC)

8-K 2026-08-04 For: 2026-08-04

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Added on August 04, 2026


Exhibit No.						Description
99.1						News Release issued by Willis Lease Finance Corporation dated August 4, 2026 .
99.2						Investor Presentation issued by Willis Lease Finance Corporation dated August 4, 2026.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)


			WILLIS LEASE FINANCE CORPORATION

			By:			/s/ Scott B. Flaherty
						Scott B. Flaherty
						Executive Vice President and Chief Financial Officer


	CONTACT:	Scott B. Flaherty
NEWS RELEASE		Executive Vice President & Chief Financial Officer
		561.413.0112


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	(in thousands)
Net income attributable to common shareholders	$	28,745	$	58,955	$	52,406	$	74,431
Add: Income tax expense	7,828		13,920		19,583		22,305
Add: Interest expense	29,689		33,569		62,322		65,663
Add: Preferred stock dividends/costs	1,423		1,422		2,845		2,815
Add: Loss on debt extinguishment	5,421		—		12,448		—
Add: Depreciation and amortization expense	29,068		27,550		59,246		52,574
Add: Stock compensation expense	12,703		16,751		26,455		23,658
Add: Write-down of equipment	4,910		11,458		6,059		13,567
Add: Acquisition, financing and divestitures related expenses	2,560		662		4,802		828
Less: Other (1)	(1,610)		(48,226)		(1,581)		(36,449)
Adjusted EBITDA	$	120,737	$	116,061	$	244,585	$	219,392


	Three months ended June 30,						Six months ended June 30,
	2026		2025		% Change		2026		2025		% Change
REVENUE
Lease rent revenue	$	77,137	$	72,268	6.7	%	$	154,522	$	140,007	10.4	%
Maintenance reserve revenue	46,456		50,743		(8.4)	%	101,968		105,602		(3.4)	%
Spare parts and equipment sales	21,180		30,354		(30.2)	%	42,867		48,594		(11.8)	%
Interest revenue	1,183		3,649		(67.6)	%	3,971		7,583		(47.6)	%
Gain on sale of leased equipment	32,038		27,582		16.2	%	49,997		32,019		56.1	%
Gain on sale of financial assets	154		—		nm		592		378		56.6	%
Maintenance services revenue	8,983		8,031		11.9	%	18,752		13,617		37.7	%
Management and advisory fees	5,524		2,588		113.4	%	13,419		4,551		194.9	%
Other revenue	1,362		287		374.6	%	2,275		883		157.6	%
Total revenue	194,017		195,502		(0.8)	%	388,363		353,234		9.9	%

EXPENSES
Depreciation and amortization expense	29,068		27,550		5.5	%	59,246		52,574		12.7	%
Cost of spare parts and equipment sales	15,097		28,102		(46.3)	%	29,514		43,425		(32.0)	%
Cost of maintenance services	10,350		8,621		20.1	%	19,210		13,950		37.7	%
Write-down of equipment	4,910		11,458		(57.1)	%	6,059		13,567		(55.3)	%
General and administrative	55,559		50,429		10.2	%	112,163		98,149		14.3	%
Technical expense	9,947		7,508		32.5	%	19,635		13,738		42.9	%
Net finance costs:
Interest expense	29,689		33,569		(11.6)	%	62,322		65,663		(5.1)	%
Loss on debt extinguishment	5,421		—		nm		12,448		—		nm
Total net finance costs	35,110		33,569		4.6	%	74,770		65,663		13.9	%
Total expenses	160,041		167,237		(4.3)	%	320,597		301,066		6.5	%

Income from operations	33,976		28,265		20.2	%	67,766		52,168		29.9	%
Gain on sale of business	—		42,950		(100.0)	%	—		42,950		(100.0)	%
Income from investments	4,172		3,082		35.4	%	7,220		4,433		62.9	%
Income before income taxes	38,148		74,297		(48.7)	%	74,986		99,551		(24.7)	%
Income tax expense	7,828		13,920		(43.8)	%	19,583		22,305		(12.2)	%
Net income	30,320		60,377		(49.8)	%	55,403		77,246		(28.3)	%
Net income attributable to noncontrolling interests	152		—		nm		152		—		nm
Net income attributable to WLFC	30,168		60,377		(50.0)	%	55,251		77,246		(28.5)	%
Preferred stock dividends	1,353		1,353		—	%	2,706		2,676		1.1	%
Accretion of preferred stock issuance costs	70		69		1.4	%	139		139		—	%
Net income attributable to common shareholders	$	28,745	$	58,955	(51.2)	%	$	52,406	$	74,431	(29.6)	%

Basic weighted average income per common share	$	1.36	$	2.89			$	2.53	$	3.70
Diluted weighted average income per common share	$	1.31	$	2.81			$	2.39	$	3.55

Basic weighted average common shares outstanding	21,127		20,367				20,733		20,094
Diluted weighted average common shares outstanding	22,013		20,970				21,885		20,985


	June 30, 2026		December 31, 2025
ASSETS
Cash and cash equivalents	$	10,725	$	16,441
Restricted cash	161,497		530,500
Equipment held for operating lease, less accumulated depreciation	2,783,382		2,801,683
Maintenance rights	83,632		30,632
Equipment held for sale	77,002		20,509
Receivables, net	41,365		35,717
Spare parts inventory	51,402		56,577
Investments	152,148		104,250
Property, equipment & furnishings, less accumulated depreciation	76,904		73,835
Intangible assets, net	8,295		271
Notes receivable, net	89,279		139,945
Investments in sales-type leases, net	—		16,595
Due from affiliates	3,188		—
Other assets	114,357		109,360
Total assets	$	3,653,176	$	3,936,315

LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY
Liabilities:
Accounts payable and accrued expenses	$	103,306	$	105,706
Deferred income taxes	264,773		228,547
Debt obligations	2,320,904		2,700,338
Maintenance reserves	129,261		116,185
Security deposits	24,537		24,651
Unearned revenue	35,112		35,350
Due to affiliates	1,407		—
Total liabilities	2,879,300		3,210,777

Redeemable preferred stock ($0.01 par value)	63,540		63,401

Shareholders’ equity:
Common stock ($0.01 par value)	228		229
Paid-in capital in excess of par	71,274		72,510
Retained earnings	637,033		590,785
Accumulated other comprehensive income (loss), net of income tax expense (benefit)	61		(1,387)
Total Willis Lease Finance Corporation shareholders’ equity	708,596		662,137
Noncontrolling interests	1,740		—
Total equity	710,336		662,137
Total liabilities, redeemable preferred stock and equity	$	3,653,176	$	3,936,315