AerCap Shares Soar Following Upward Revision Of FY23 Earnings Forecast, Q3 Earnings Beat
Portfolio Pulse from Nabaparna Bhattacharya
AerCap Holdings N.V. (NYSE:AER) reported a 7% YoY growth in Q3 FY23 total lease revenue to $1.701 billion, missing the analyst consensus of $1.89 billion. However, its adjusted EPS of $2.81 beat the analyst consensus of $2.73. The company also announced a new $500 million share repurchase program, taking total authorizations to $2.65 billion for the year. Following the announcement, AER shares are trading higher by 2.67% to $61.04.
October 27, 2023 | 3:37 pm
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POSITIVE IMPACT
AerCap's Q3 earnings report showed mixed results with revenue missing but EPS beating analyst expectations. The announcement of a new share repurchase program indicates the company's confidence in its stock, which could positively impact its short-term price.
AerCap's Q3 earnings report showed a revenue miss, which could negatively impact investor sentiment. However, the EPS beat and the announcement of a new share repurchase program could offset this negative impact. Share repurchase programs often indicate a company's belief that its stock is undervalued, which can boost investor confidence and drive up the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100