Aercap Holdings N.v. · NYSE:AER
Aercap — Q2 2026 Earnings Presentation
20 slides from Aercap's earnings presentation, Jul 29, 2026
Slide 1: Second Quarter 2026 Financial Results
SECOND 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 2Q 2026 Results: GAAP EPS of $4.59, Adjusted EPS of $5.14 Raising FY 2026 Adj. EPS Guidance to ~$16.80, Not Including Any 2H 2026 Gains on Sale GAAP ROE of 16% and Adjusted ROE of 18% for 2Q 2026 $1.4 Billion of Asset Sales; 20% Gain -on-Sale Margin, 1.7x Book Equity Multiple O
Slide 4: Widebody Replacement Demand Continues to Build
WIDEBODY REPLACEMENT DEMAND CONTINUES TO BUILD Undersupply of aircraft and delayed fleet renewal support long -term demand for new technology widebody aircraft Widebody Deliveries Remain Below 2019 Peak Widebody Retirements Remain Below Historical Levels (Units) (Units) ~1,400 WB AIRCRAFT 450 160 Av
Slide 5: Balanced Capital Deployment in 2026 YTD
BALANCED CAPITAL DEPLOYMENT IN 2026 YTD We have placed large aircraft orders while returning significant capital to shareholders and maintaining financial flexibilit y 131 >$1.5 Billion 2.05x New Aircraft Ordered Returned to Shareholders Adjusted Leverage 116 A320neo Family aircraft $1.4 billion of
Slide 6: 2Q 2026 Net Income Walk
2Q 2026 NET INCOME WALK 2Q 2026 Adjusted Net Income Net income of $726 million, Increase or $4.59 per share ($ million) Decrease Adjusted net income of (28) (15) $811 million, or $5.14 per share 129 Purchase accounting adjustments include: 811 726 $26 million related to lease premium amortization af
Slide 7: 2Q 2026 Financial Drivers
2Q 2026 FINANCIAL DRIVERS Basic lease rents were $1,677 million, and reflected $26 million of lease premium amortization Maintenance rents and other receipts were $177 million, and reflected $36 million of maintenance rights asset amortization Net gain on sale of assets was $223 million, representin
Slide 8: Strong Liquidity Position
STRONG LIQUIDITY POSITION Next 12 months’ sources -to-uses coverage of 1.9x, with ~$22 billion sources of liquidity Sources vs. Uses (Next 12 Months) (as of June 30, 2026) Adjusted leverage ratio of 2.05x 22 2Q 2026 operating cash flow ($ billion) 20 ~$5 of $ 1.5 billion 18 Excess Coverage 16 ~ $2 ~
Slide 9: Raising Full-Year 2026 Guidance
RAISING FULL -YEAR 2026 GUIDANCE Full -year 2026 adjusted EPS guidance increased to ~$16.80, not including any additional 2H 2026 gains on sale 2026 Adjusted Earnings Per Share Guidance Key drivers of outperformance include: $18.00 ~$16.80 Gains on sale 1H 2026 gains on sale of $514 $16.00 Guidance
Slide 10: Q&A
Q&A © AerCap
Slide 11: Supplemental Information
SUPPLEMENTAL INFORMATION © AerCap
Slide 12: Significant Activity Across All Business Lines
SIGNIFICANT ACTIVITY ACROSS ALL BUSINESS LINES AerCap leased, purchased and sold 202 assets in 2Q 2026 AIRCRAFT ENGINES HELICOPTERS TOTAL 128 TRANSACTIONS 56 TRANSACTIONS 18 TRANSACTIONS 202 TRANSACTIONS 58 49 13 120 LEASED LEASED LEASED LEASED 25 5 3 33 PURCHASED PURCHASED PURCHASED PURCHASED 45 2
Slide 13: 2Q 2026 Adjusted Net Income, EPS & ROE Reconciliation
2Q 2026 ADJUSTED NET INCOME, EPS & ROE RECONCILIATION ($ million, except per share amounts) Net Income Earnings Per Share ($) Net Income / Earnings Per Share $726 $4.59 Amortization of Maintenance Rights and Lease Premium Assets 129 0.82 Recognized under Purchase Accounting Net Recoveries Related to
Slide 14: Full-Year 2026 Adjusted EPS Guidance
FULL -YEAR 2026 ADJUSTED EPS GUIDANCE Projected FY 2026 ($ billion, except per share amount) Net Income / EPS Net Income (Including 1H 2026 Gains on Sale) $2.4 Amortization of Maintenance Rights and Lease Premium Assets Recognized under Purchase 0.4 Accounting Net Recoveries Related to Ukraine Confl
Slide 15: Book Value Per Share
BOOK VALUE PER SHARE (million, except per share data) Jun. 30, 2026 Total Shareholders’ Equity $18,409 Ordinary Shares Outstanding 157.2 Unvested Restricted Stock (2.8) Ordinary Shares Outstanding (Excluding Unvested Restricted Stock) 154.4 Book Value Per Share $119.21 See Supplemental Information –
Slide 16: Capital Structure
CAPITAL STRUCTURE Adjusted Debt/Equity Calculation ($ million) Jun. 30, 2026 Dec. 31, 2025 Debt $42,774 $43,565 Adjusted for: Unrestricted cash & cash equivalents (1,686) (1,379) 50% equity credit for long -term subordinated debt (1,125) (1,125) Adjusted Debt 39,963 41,061 Equity 18,410 18,323 Adjus
Slide 17: High-Quality & Well-Diversified Portfolio
HIGH -QUALITY & WELL -DIVERSIFIED PORTFOLIO New technology assets comprise 78% 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% 6 - 25 Airbus A320neo Family 419 30% 31 265 715 Airbus A320 Fam
Slide 18: Forward Orders and Purchase/Leasebacks
FORWARD ORDERS AND PURCHASE/LEASEBACKS AIRCRAFT TYPE 2026 2027 2028 2029 2030 THEREAFTER TOTAL Airbus A320neo Family 18 32 54 44 27 90 265 Airbus A330neo Family 1 5 - - - - 6 Boeing 737 MAX 24 20 15 15 3 - 77 Boeing 787 4 4 - - 4 11 23 Embraer E195 -E2 3 - - - - - 3 Other - - - - - 5 5 Total Passeng
Slide 19: Endnotes
ENDNOTES SLIDE 3 : Key Highlights Number of shares repurchased in 1H 2026 represented ~6% of outstanding shares as of December 31, 2025. SLIDE 4 : Widebody Replacement Demand Continues to Build Airbus and Boeing Annual Commercial Aircraft Deliveries for 2016 -2025. Undelivered versus the total numbe
Slide 20: Never Stand Still
NEVER STAND STILL PROPERTY OF AERCAP ©2026