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CALGARY, AB, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Today, the Alberta Energy Regulator (AER) announced it has imposed an administrative penalty and terms and conditions on Imperial Oil (Imperial) as a result of two contraventions of its approval conditions. The AER also released the first findings from its ongoing investigation into potential contraventions at the Kearl site, following the issuance of the Environmental Protection Order in February 2023.
AerCap Holding is trading at 0.97x Price/Book, and I believe that is too cheap for a leading company riding multiple industry tailwinds. The A+ management team has done a stellar job of growing the business via M&A and strategically acquiring assets without diluting shareholder value. Based on a $95.44 BVPS for 2025 and a 1.10x FWD Price/Book multiple, I arrive at a price target of $105, representing a 17.4% upside.
AerCap stock has not performed as well as expected, but has shown growth over the past four years. AerCap's basic lease revenues are plateauing due to airplane delivery delays, but total revenues and income have increased. AerCap maintains strong liquidity, increases full year outlook, and has further upside potential based on book value and EV/EBITDA valuation methods.
Aengus Kelly, CEO of AerCap, discusses the firm's half-year results and explains why the company has raised its guidance.
AerCap Holdings N.V. (NYSE:AER ) Q2 2024 Earnings Conference Call August 1, 2024 8:30 AM ET Company Participants Aengus Kelly - Chief Executive Officer Peter Juhas - Chief Financial Officer Joseph McGinley - Head of Investor Relations Conference Call Participants Jamie Baker - JPMorgan Terry Ma - Barclays Moshe Orenbuch - TD Cowen Stephen Trent - Citi Hillary Cacanando - Deutsche Bank Kristine Liwag - Morgan Stanley Anthony Berni - Susquehanna International Group Mariana Perez Mora - Bank of America Operator Please stand by.
DUBLIN , Aug. 1, 2024 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced it has filed an interim financial report including its unaudited condensed consolidated financial statements and notes for the second quarter ended June 30, 2024, with the U.S. Securities and Exchange Commission (the "SEC").
AerCap (AER) came out with quarterly earnings of $3.01 per share, beating the Zacks Consensus Estimate of $2.41 per share. This compares to earnings of $2.56 per share a year ago.
DUBLIN , Aug. 1, 2024 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced the delivery of the first three of fifteen new Airbus A321neo aircraft on long-term lease to AirAsia Group* (AirAsia).
AerCap raised its full-year earnings guidance for the second time this year after recording further gains on the sale of aircraft and higher lease revenue in the second quarter, the world's largest aircraft lessor said on Thursday.
Net income for the second quarter of 2024 was $448 million, or $2.28 per share. Adjusted net income for the second quarter of 2024 was $592 million, or $3.01 per share.