Filing Flows › Willis Lease Finance (WLFC) › Q3 2026
Willis Lease Finance (WLFC) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
Willis Lease Finance (WLFC) reported revenue of $246M for the third quarter 2026 (Q3 2026), +34% from a year earlier and +27% from the quarter before. Operating margin was 4.7%, net earnings $11.7M (4.7% of revenue).
Willis Lease Finance, Q3 2026: revenue $246M (+34% year over year), operating margin 4.7%, net earnings $11.7M, operating cash flow $105M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $246M | +27% | +34% |
| Operating profit | $11.5M | -66% | -70% |
| Net earnings | $11.7M | -62% | -52% |
| Operating cash flow | $105M | +35% | +64% |
| Free cash flow | $103M | +37% | +78% |
What changed
Revenue was $246.3M in Q3 2026, up 34% year over year and up 27% from the previous quarter.
Operating profit was $11.5M, a 4.7% margin (down 16.1 points year over year). Operating profit fell $26.5M even though revenue rose $62.9M versus Q3 2025, so costs grew faster than sales. Total costs grew 62% against revenue growth of 34%. The fastest-growing cost line was Sales & marketing (+1263%). Net earnings were $11.7M, down 52% year over year. The effective tax rate was 37.9%. Non-operating items added $7.3M, 39% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $104.8M (up 64% year over year), 898% of net earnings. Non-cash charges added back $31.4M of depreciation and amortization and $12.3M of share-based compensation. Working capital and other items added $49.5M. Capital expenditures of $2.0M left free cash flow of $102.7M.
Questions
What was Willis Lease Finance's revenue in the third quarter 2026?
Willis Lease Finance (WLFC) reported revenue of $246M for the third quarter 2026 (Q3 2026), +34% from a year earlier and +27% from the quarter before.
Was Willis Lease Finance profitable in the third quarter 2026?
Operating profit was $11.5M (4.7% of revenue) and net earnings $11.7M.