Aercap Holdings N.v. · NYSE:AER
Aercap — Q3 2026 Earnings Presentation
22 slides from Aercap's earnings presentation, October 2026
Slide 1: Third Quarter 2026 Financial Results
THIRD QUARTER 2026 FINANCIAL RESULTS AERCAP HOLDINGS N.V .
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
FORWARD -LOOKING STATEMENTS AND NON -GAAP FINANCIAL INFORMATION This presentation contains certain statements, estimates and forecasts with respect to future As a result, we cannot assure you that the forward -looking statements included in this presentation performance and events . These statements
Slide 3: Key Highlights
KEY HIGHLIGHTS Strong 3Q 2026 Results: GAAP EPS of $6.17, Record Adjusted EPS of $6.56 Raising FY2026 Adjusted EPS Guidance to ~$20.70, Before Any 4Q 2026 Gains on Sale GAAP ROE of 20% and Record Adjusted ROE of 22% for 3Q 2026 Capex of $1.9 Billion, Including Purchases of 32 Aircraft $1.1 Billion o
Slide 4: Recent Orders Highlight Power of AerCap Platform
RECENT ORDERS HIGHLIGHT POWER OF AERCAP PLATFORM We have added 225 aircraft with attractive economics and near -term delivery dates to our order book 106 68 62 59 15 101 38 39 35 17 47 31 1 30 20 16 4 5 4Q2026 2027 2028 2029 2030 Thereafter Order Book (pre-additions) Additional Aircraft As of Septem
Slide 5: Balanced Capital Deployment Strategy
BALANCED CAPITAL DEPLOYMENT STRATEGY Even after significant deployment of capital, we still have $3.7 billion of excess capital available Ordered >$30B of Aircraft / Engines Repurchased ~40 % of Shares Strengthened Balance Sheet (units) (million shares ($ billion) outstanding) 350 2.7x $3.0 250 2.7x
Slide 6: Strong Growth in Adjusted EPS and BVPS
STRONG GROWTH IN ADJUSTED EPS AND BVPS AerCap consistently compounds adjusted earnings per share and book value per share Adjusted Earnings Per Share Book Value Per Share ~$20.70 $124.89 $20 $120 $100 $15 $80 $66.85 $10 $9.01 $60 $40 $5 $20 - - 2022 2023 2024 2025 FY 2026E 2022 2023 2024 2025 3Q2026
Slide 7: 3Q 2026 Net Income Walk
3Q 2026 NET INCOME WALK 3Q 2026 Adjusted Net Income Net income of $949 million, Increase or $6.17 per share ($ million) Decrease Adjusted net income of $1,009 (11) million, or $6.56 per share 71 Purchase accounting adjustments include: 1,009 949 $23 million related to lease premium amortization affe
Slide 8: 3Q 2026 Financial Drivers
3Q 2026 FINANCIAL DRIVERS Basic lease rents were $1,698 million, and reflected $23 million of lease premium amortization Maintenance rents and other receipts were $267 million, and reflected $35 million of maintenance rights asset amortization Net gain on sale of assets was $353 million, representin
Slide 9: Strong Liquidity Position
STRONG LIQUIDITY POSITION Next 12 months’ sources -to-uses coverage of 1.8x, with ~$22 billion sources of liquidity Sources vs. Uses (Next 12 Months) (as of September 30, 2026) Adjusted leverage ratio of 2.0x 22 3Q 2026 operating cash flow ($ billion) 20 ~$5 of $1.8 billion Excess 18 Coverage 16 ~ $
Slide 10: Raising Full-Year 2026 Guidance
RAISING FULL -YEAR 2026 GUIDANCE Full -year 2026 adjusted EPS guidance increased to ~$20.70, before any 4Q 2026 gains on sale 2026 Adjusted Earnings Per Share Guidance Key drivers of outperformance in 9M 2026 include: $22.00 ~$20.70 Gains on sale Gains on sale of $866 million $20.00 Guidance before
Slide 11: Q&A
Q&A © AerCap
Slide 12: Supplemental Information
SUPPLEMENTAL INFORMATION © AerCap
Slide 13: 3Q 2026 Adjusted Net Income, EPS & ROE Reconciliation
3Q 2026 ADJUSTED NET INCOME, EPS & ROE RECONCILIATION ($ million, except per share amounts) Net Income Earnings Per Share ($) Net Income / Earnings Per Share $949 $6.17 Amortization of Maintenance Rights and Lease Premium Assets 71 0.46 Recognized under Purchase Accounting Income Tax Effect (11) (0.
Slide 14: Adjusted EPS Reconciliation
ADJUSTED EPS RECONCILIATION $ Earnings (Loss) per share amounts FY2025 FY2024 FY2023 FY2022 Earnings (Loss) Per Share $21.30 $10.79 $13.78 $(3.02) Amortization of Maintenance Rights and Lease Premium Assets Recognized under Purchase 1.49 2.44 2.17 2.59 Accounting Net (Recoveries) Charges Related to
Slide 15: Full-Year 2026 Adjusted EPS Guidance
FULL -YEAR 2026 ADJUSTED EPS GUIDANCE Projected FY 2026 ($ billion, except per share amount) Net Income / EPS Net Income (Including 9M 2026 Gains on Sale) $3.0 Amortization of Maintenance Rights and Lease Premium Assets Recognized under Purchase 0.4 Accounting Net Recoveries Related to Ukraine Confl
Slide 16: Book Value Per Share
BOOK VALUE PER SHARE (million, except per share data) Sept. 30, 2026 Total Shareholders’ Equity $18,622 Ordinary Shares Outstanding 151.9 Unvested Restricted Stock (2.8) Ordinary Shares Outstanding (Excluding Unvested Restricted Stock) 149.1 Book Value Per Share $124.89 See Supplemental Information
Slide 17: Capital Structure
CAPITAL STRUCTURE Sept. 30, Dec. 31, Dec. 31, Dec. 31, Dec. 31, Adjusted Debt/Equity Calculation ($ million) 2026 2025 2024 2023 2022 Debt $43,272 $43,565 $45,295 $46,484 $46,533 Adjusted for: Unrestricted cash & cash equivalents (2,534) (1,379) (1,209) (1,627) (1,597) 50% equity credit for long -te
Slide 18: High-Quality & Well-Diversified Portfolio
HIGH -QUALITY & WELL -DIVERSIFIED PORTFOLIO New technology assets comprise 79% of total fleet AIRCRAFT TYPE NUMBER OF ASSETS OWNED % NET BOOK VALUE NUMBER OF ASSETS MANAGED NUMBER OF ASSETS ON ORDER TOTAL ASSETS Airbus A220 Family 19 1% 3 - 22 Airbus A320neo Family 423 30% 25 257 705 Airbus A320 Fam
Slide 19: Forward Orders and Purchase/Leasebacks
FORWARD ORDERS AND PURCHASE/LEASEBACKS AIRCRAFT TYPE 2026 2027 2028 2029 2030 THEREAFTER TOTAL Airbus A320neo Family 9 33 54 44 27 90 257 Airbus A330neo Family 1 5 - - - - 6 Boeing 737 MAX 4 20 14 15 4 - 57 Boeing 787 2 4 - - 4 11 21 Embraer E195 -E2 1 - - - - - 1 Other - - - - - 5 5 Total Passenger
Slide 20: Significant Activity Across All Business Lines
SIGNIFICANT ACTIVITY ACROSS ALL BUSINESS LINES AerCap leased, purchased and sold 204 assets in 3Q 2026 AIRCRAFT ENGINES HELICOPTERS TOTAL 158 TRANSACTIONS 26 TRANSACTIONS 20 TRANSACTIONS 204 TRANSACTIONS 61 13 11 85 LEASED LEASED LEASED LEASED 32 - 2 34 PURCHASED PURCHASED PURCHASED PURCHASED 65 13
Slide 21: Endnotes
ENDNOTES SLIDE 3 : Key Highlights Number of shares repurchased in 9M 2026 represented ~10% of outstanding shares as of December 31, 2025. SLIDE 7 : 3Q 2026 Net Income Walk Purchase accounting adjustments consist of the amortization of maintenance rights and lease premium assets recognized under p ur
Slide 22: Never Stand Still
NEVER STAND STILL PROPERTY OF AERCAP ©2026