EarningsQ2 2026 Earnings Report
MX:AERN Q2 2026 EPS Results
Actual EPS$87.15
Consensus EPS$70.16
Beat/MissBeat by +$16.99
One Year Ago EPS$47.98
MX:AERN Q2 2026 Revenue Results
Actual Revenue$31.44B
Expected Revenue$35.56B
Beat/MissMissed by -$4.12B
YoY Revenue Growth+4.90%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:AERN Upcoming Earnings
Aercap Holdings's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:AERN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a clearly positive operational and financial message: strong Q2 earnings (adjusted EPS $5.14), robust operating cash flow ($1.5B), substantial liquidity (~$22B), aggressive shareholder returns (>$1.4B repurchased H1), high-quality asset sales (20% gain margin) and an increased full-year EPS outlook to $16.80. Management also emphasized strategic positioning (large 787 order book, 131 aircraft added YTD) and resilient leasing metrics (85% lease extension rate, improving yields/spreads). Key negatives were largely macro and timing risks — higher airline input costs, regional traffic moderation, normalization of elevated maintenance contribution, uncertainty and capital intensity related to aeroderivative opportunities, and the deliberate pace of re-leveraging — but these do not outweigh the operational and financial strength presented.Company Guidance
Strong Adjusted Earnings and ROE
Adjusted EPS of $5.14 in Q2 2026 (adjusted net income $811M), GAAP net income $726M ($4.59/share), and an adjusted return on equity of 18% for the quarter.
Robust Operating Cash Flow and Liquidity
Operating cash flow of $1.5B in Q2 (management cited ~ $6B LTM), total sources of liquidity approximately $22B (including ~$1.7B cash, $10B revolvers and $3B committed facilities), sources-to-uses coverage ~1.9x and excess cash coverage ~ $10B; average cost of debt ~4.2% and secured debt / total assets ~9%.
Significant Share Repurchases and Capital Returns
Repurchased $691M of shares in Q2 and over $1.4B in the first half of 2026 (repurchased >6% of shares YTD). Since 2023, repurchased 93M shares (~40% of outstanding) for ~$8B, demonstrating material capital returned to shareholders.
High-Quality Asset Sales and Gain-on-Sale Margins
Sold 38 owned assets in Q2 for $1.4B of sales revenue, generating net gain-on-sale of $223M and an unlevered gain-on-sale margin of 20% (≈1.7x book value). Completed $2.8B of asset sales in H1 2026 and expect full-year asset sales of $4B–$5B.
Order Book Expansion and Widebody Focus
Added 15 Boeing 787 aircraft (deliveries 2030–2033) and added 131 aircraft to the order book year-to-date; earlier placed 100 A320neo family aircraft — positioning AerCap as largest 787 fleet/order-book lessor and positioning for a prolonged widebody replacement cycle.
Strong Leasing Activity and Portfolio Metrics
Passenger aircraft lease extension rate of 85% (well above long-term average); basic lease rents $1.677B in Q2, maintenance revenue $177M and net maintenance contribution $131M; lease yield up ~30 bps YoY and net spread up ~50 bps YoY.
Raised Full-Year Guidance
Raised full-year 2026 adjusted EPS guidance to ~$16.80 (includes $2.80 of H1 gains on sale); management estimates EPS excluding gains-on-sale of approximately $14 for the year.
MX:AERN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed