WLFC's Q1 results show accelerating momentum across all key metrics, with record lease rent revenue and expanding margins. The scaling of the Willis Aviation Capital asset management platform, now with $4.1B AUM and a new Liberty Mutual partnership, provides a capital-light growth engine. Monitor the earnings call for updates on the WAC pipeline and any guidance on portfolio growth for the remainder of 2026.
Price Chart
Executive Summary
WLFC reported record Q1 2026 results with total revenue of $194.3M (+23.2% YoY), net income to common shareholders of $23.7M (+52.9% YoY), and diluted EPS of $3.26 (+47.5% YoY). The company also declared a $0.40/share quarterly dividend. The strong performance was driven by record quarterly lease rent revenue of $77.4M (+14.2% YoY), higher gain on sale of leased equipment ($18.0M vs $4.4M), and growth in maintenance services revenue (+74.9% YoY). The company's Willis Aviation Capital (WAC) platform is scaling, with the Liberty Mutual Investments partnership commencing operations in March 2026.
Key Financial Metrics
Key Facts
- Total revenue of $194.3M, up 23.2% YoY from $157.7M
- Net income attributable to common shareholders of $23.7M, up 52.9% YoY from $15.5M
- Diluted EPS of $3.26, up 47.5% YoY from $2.21
- Record quarterly lease rent revenue of $77.4M, up 14.2% YoY
- Gain on sale of leased equipment of $18.0M, up 304.8% YoY from $4.4M
- Adjusted EBITDA of $123.8M, up 19.9% YoY from $103.3M
- Portfolio utilization increased to 85.8% from 79.9% YoY
- Quarterly dividend of $0.40 per share declared, payable May 22, 2026
- Liberty Mutual Investments partnership commenced operations in March 2026
- Assets under management of $4.1B as of March 31, 2026
Financial Impact
Revenue growth of $36.6M YoY, net income growth of $8.2M YoY, EPS growth of $1.05 YoY
Risk Factors
- Interest expense increased 1.7% YoY to $32.6M, and total debt remains high at $2.25B
- Loss on debt extinguishment of $7.0M in Q1 2026 vs $0 in Q1 2025
- General and administrative expenses increased 18.6% YoY to $56.6M, partly due to stock compensation
- Portfolio size decreased slightly from 363 engines at year-end 2025 to 342 engines at Q1 2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001018164-26-000050 |
| Document: wlfc-20260505.htm | 0001018164-26-000050 |
| Document: wlfcq12026earningscall5-.htm | 0001018164-26-000050 |
| Document: 0001018164-26-000050-index-headers.html | 0001018164-26-000050 |
| Document: 0001018164-26-000050-index.html | 0001018164-26-000050 |
| Document: 0001018164-26-000050.txt | 0001018164-26-000050 |
| 8-K Data (Synthetic) | 0001018164-26-000050 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | $38.54 | awaiting T+1 | — | $38.99 (+1.17%) |
Sep 22, 2026 4w ago | 8-K | $54.89 $54.38 | ▼ −0.93% | ▼ −0.21% | $38.99 (−28.97%) |
Sep 3, 2026 7w ago | Insider Cluster | $56.22 $57.43 | ▲ +2.15% | ▲ +2.70% | $38.99 (−30.65%) |
Aug 25, 2026 8w ago | 8-K | $54.62 $54.91 | ▲ +0.53% | ▲ +0.51% | $38.99 (−28.62%) |
Aug 25, 2026 8w ago | Press Release | $54.62 $54.91 | ▲ +0.53% | ▲ +0.51% | $38.99 (−28.62%) |
Aug 24, 2026 9w ago | Insider Cluster | $54.62 $54.91 | ▲ +0.53% | ▲ +0.51% | $38.99 (−28.62%) |
Aug 19, 2026 9w ago | Insider Cluster | $54.18 $54.37 | ▼ −0.35% | ▲ +0.06% | $38.99 (+28.04%) |
Aug 6, 2026 11w ago | 8-K | $63.92 $61.05 | ▼ −4.49% | ▼ −5.10% | $38.99 (−39.00%) |
Aug 5, 2026 11w ago | Insider Cluster | $63.77 $60.91 | ▼ −4.49% | ▼ −5.10% | $38.99 (−38.86%) |
Aug 4, 2026 11w ago | 8-K | $70.62 $65.21 | ▼ −7.66% | ▼ −7.46% | $38.99 (−44.79%) |
US Market Status
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