Filing Flows › Willis Lease Finance (WLFC) › Q1 2026
Willis Lease Finance (WLFC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Willis Lease Finance (WLFC) reported revenue of $194M for the first quarter 2026 (Q1 2026), +23% from a year earlier and +0.4% from the quarter before. Operating margin was 17.4%, net earnings $25.1M (12.9% of revenue).
Willis Lease Finance, Q1 2026: revenue $194M (+23% year over year), operating margin 17.4%, net earnings $25.1M, operating cash flow $56.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $194M | +0.4% | +23% |
| Operating profit | $33.8M | +140% | +41% |
| Net earnings | $25.1M | +106% | +49% |
| Operating cash flow | $56.7M | -24% | +38% |
| Free cash flow | $53.1M | -20% | +58% |
What changed
Revenue was $194.3M in Q1 2026, up 23% year over year and roughly flat from the previous quarter.
Operating profit was $33.8M, a 17.4% margin (up 2.2 points year over year). Of the extra revenue versus Q1 2025, 27% reached operating profit, above the 15% margin then. Total costs grew 20% against revenue growth of 23%. The fastest-growing cost line was Other operating costs (+26%). Net earnings were $25.1M, up 49% year over year. The effective tax rate was 31.9%.
Operating cash flow was $56.7M (up 38% year over year), 226% of net earnings. Non-cash charges added back $30.2M of depreciation and amortization and $13.8M of share-based compensation. Working capital and other items used $12.3M. Capital expenditures of $3.5M left free cash flow of $53.1M.
Questions
What was Willis Lease Finance's revenue in the first quarter 2026?
Willis Lease Finance (WLFC) reported revenue of $194M for the first quarter 2026 (Q1 2026), +23% from a year earlier and +0.4% from the quarter before.
Was Willis Lease Finance profitable in the first quarter 2026?
Operating profit was $33.8M (17.4% of revenue) and net earnings $25.1M.