Core Insights - Willis Lease Finance Corporation reported third-quarter earnings of 3.37pershare,asignificantincreasefrom2.13 per share in the same quarter of 2023, with total revenues reaching 146.2million,a38.3105.7 million [1][2] Revenue Breakdown - Lease rent revenues amounted to 64.9million,up21.253.6 million in the same period last year, driven by increased asset deployment and new lease agreements [3] - Maintenance reserve revenues rose 32% year-over-year to 49.8million,comparedto37.7 million in the third quarter of 2023, supported by high utilization rates of leased engines [4] - Revenues from spare parts and equipment sales increased significantly to 10.9millionfrom3.4 million in the year-ago quarter, with an additional 1millionfromequipmentsalesforoneengine[5]−Gainsfromthesaleofleasedequipmenttotaled9.5 million from the sale of 13 engines and other assets, a substantial increase from 0.8millioninthethirdquarterof2023[6]ExpenseOverview−Totalexpensesroseto112.5 million, a 31.2% increase year-over-year, with general and administrative expenses increasing by 50.8% to 40million[7]−Netfinancecostsincreasedby4627.8 million, primarily due to higher interest expenses associated with increased borrowing for equipment purchases [7] Profitability Metrics - Quarterly pre-tax income was 34.5million,up69.420.3 million in the prior-year period, reflecting strong demand in the aviation leasing market [9] - Net income attributable to common shareholders surged to 23.1million,a67.95.8 million, down from 7.1millionattheendof2023,whiletotalassetsgrewto3 billion from 2.7billion[11]−Debtobligationsincreasedto2 billion from 1.8billionatyear−end2023,andshareholders′equitystrengthenedto517.8 million, up from 439million[11]StrategicDevelopments−ThecompanyrefinanceditsSeriesApreferredstock,consolidatingitintoa65 million Series A series with an 8.35% dividend rate, enhancing its capital structure [12] - A new 1billion,five−yearrevolvingcreditfacilitywasestablished,replacinganexisting500 million facility, providing capital flexibility for future demand [13] - The company declared a quarterly dividend of 25 cents per share, to be paid on November 21, 2024, demonstrating its commitment to returning value to shareholders [13]