Willis Lease Finance revenue soars 23% on record engine leasing demand

Willis Lease Finance (NASDAQ:WLFC) delivered record-breaking results for the first quarter of 2026, capitalizing on a persistent global shortage of commercial aircraft engines that pushed lease yields and service demand to all-time highs.

The Coconut Creek, Florida-based engine lessor reported total revenue of $194.3 million, a 23.2% increase over the same period last year.

The results were anchored by record lease rent revenue of $77.4 million, up 14.2%, and a 74.9% surge in maintenance services revenue, which hit $9.8 million.

The company’s portfolio utilization—a key metric for asset efficiency—rose to 85.8% at quarter's end.

Profitability saw even sharper growth, with net income attributable to common shareholders climbing 52.9% to $23.7 million, or $3.26 per diluted share.

Adjusted EBITDA rose 19.9% to $123.8 million, reflecting the company’s ability to scale its aviation services platform without a proportional increase in overhead.

The quarter also marked the successful early ramp-up of Willis Aviation Capital and the Willis Module Shop, the company’s new in-house engine restoration capability.

Reflecting its strong cash position and optimistic outlook, the company’s Board of Directors declared a quarterly cash dividend of $0.40 per share, payable on May 22 to shareholders of record as of May 12.