AER · AERCAP HOLDINGS Q2 FY2026 earnings call record财报电话会记录

“We also completed $1.4 billion of asset sales during the quarter, generating a gain on sale margin of 20%.”

“During the quarter, we repurchased more than $690 million of our shares and over $1.4 billion in the first half of the year.”

“Reflecting our strong first half performance and positive outlook for the business, we are raising our full-year earnings guidance to $16.80 per share, not including any additional gains on asset sales.”

“Recent geopolitical challenges have led to higher input costs for airlines and will no doubt put further pressure on airline margins this year.”

“While global traffic growth has moderated year-over-year, trends vary by region.”

“The Middle East, Asia Pacific, and North America have experienced some weakness in daily flight activity.”

“This strategic investment allows us to capitalize on a prolonged fleet renewal cycle while providing our customers with access to one of the most efficient and sought-after aircraft types in the market.”

“So far this year, we have added 131 aircraft to our order book, returned more than $1.5 billion to our shareholders through share repurchases and dividends, and still have approximately $3.5 billion of excess capital available to deploy.”

“That includes just under $1.7 billion of cash, $10 billion of revolvers, and $3 billion of other committed facilities, as well as estimated sales and operating cash flow.”

“As Gus mentioned, today, we're raising our full year 2026 Adjusted EPS guidance to approximately $16.80.”

“We've completed $2.8 billion of asset sales in the first six months of this year, and as a result, we currently expect asset sales for the full year 2026 to be in the range of $4 billion-$5 billion.”

“That has tremendous impact on economics, because if you think of your paying escalation every year, say escalation is 4%, and you can take delivery of your equipment, you order at the same time, give or take, but you can get delivery four years earlier than a competitor, then your purchase price is probably 16%, 17% less at the end of the day.”