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Friday, November 06, 2009
AerCap Quarterly Profit Falls 31%
By Christopher Hinton
MarketWatch Pulse
NEW YORK - AerCap Holdings NV said Friday its third-quarter net income fell to $35.5 million, or 42 cents a share, from $51.3 million, or 60 cents a share, in the year-ago period. Revenue fell 30% to $212.5 million from $301.9 million, mainly due to lower aircraft sales revenue and lower maintenance work. Excluding the impact of mark-to-market interest rate caps and share-based compensation, the Amsterdam-based aircraft-leasing company said it would have earned $39.2 million in the most recent quarter, or 46 cents a share. Analysts polled by FactSet Research were looking for earnings of 42 cents a share, on average. U.S.-listed shares of AerCap rose 1% premarket to $9.01.
Copyright © 2009 MarketWatch, Inc.
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