AerCap Holdings N.V. (NYSE:AER) Q3 2024 Earnings Conference Call October 30, 2024 8:30 AM ET

Company Participants

Joseph McGinley - Head of Investor Relations
Aengus Kelly - Chief Executive Officer
Peter Juhas - Chief Financial Officer

Conference Call Participants

Hillary Cacanando - Deutsche Bank
Stephen Trent - Citi
Moshe Orenbuch - TD Cowen
Ronald Epstein - Bank of America
Christopher Stathoulopoulos - Susquehanna International Group

Operator

Good day everyone, and welcome to the AerCap's Q3 2024 Financial Results. Today's conference is being recorded and a transcript will be available following the call on the company's website.

At this time, I'd like to turn the conference over to Joseph McGinley, Head of Investor Relations. Please go ahead, sir.

Joseph McGinley

Thank you, operator, and hello, everyone. Welcome to our third quarter 2024 conference call. With me today is our Chief Executive Officer, Aengus Kelly; and our Chief Financial Officer, Pete Juhas.

Before we begin today's call, I would like to remind you that some statements made during this conference call which are not historical facts may be forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results or events that differ materially from those expressed or implied in such statements. AerCap undertakes no obligation other than that imposed by law to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after this call.

Further information concerning issues that could materially affect performance can be found in AerCap's earnings release dated 30th October, 2024. A copy of the earnings release and conference call presentation are available on our website at aercap.com. This call is open to the public and is being webcast simultaneously at aercap.com and will be archived for replay. We will shortly run through earnings presentation and will allow time at the end for Q&A. As a reminder, I would ask that analysts limit themselves to one question and one follow-up.

Given the ongoing court case, we will not be taking any questions regarding our insurance claims on this call.

I'll now turn the call over to Aengus Kelly.

Aengus Kelly

Thank you for joining us for our third quarter 2024 earnings call. I am pleased to report another quarter of strong earnings for AerCap, generating adjusted net income of $463 million and adjusted earnings per share of $2.41.

We also continue to generate very strong operating cash flows across the business, reaching a record $5.6 billion for the last 12 months. These results reflect the widespread demand for our assets, the ongoing constraints on OEM deliveries and our continued focus on execution. As a result, we are pleased to increase our earnings guidance for the year from $10.25 to approximately $10.70. As a reminder, our guidance does not include any gains on sale in the fourth quarter.