Willis Lease Finance Corporation filed its quarterly report on Form 10-Q for the period ended September 30, 2026, with the SEC on November 3, 2026, disclosing condensed consolidated financial statements covering the three and nine months ended September 30, 2026.

Key Highlights

  • Total assets of $4,052,363 thousand as of September 30, 2026, up from $3,936,315 thousand at December 31, 2025, according to the filing.
  • Equipment held for operating lease was reported at $3,024,361 thousand, net of accumulated depreciation of $616,665 thousand, as of September 30, 2026.
  • Debt obligations declined to $2,524,677 thousand at September 30, 2026, from $2,700,338 thousand at December 31, 2025.
  • Retained earnings increased to $644,228 thousand at September 30, 2026, compared with $590,785 thousand at December 31, 2025.
  • Redeemable preferred stock shares issued rose to 15,000 at September 30, 2026, from 9,750 at December 31, 2025, with a carrying value of $97,992 thousand.
  • Common shares outstanding were reported as 21,162,209 as of October 30, 2026.
  • Maintenance rights increased significantly to $146,479 thousand at September 30, 2026, from $30,632 thousand at December 31, 2025.

Willis Lease Finance Balance Sheet Movements Through September 30, 2026

According to the filing, Willis Lease Finance Corporation (NASDAQ:WLFC) reported total assets of $4,052,363 thousand as of September 30, 2026, compared with $3,936,315 thousand at December 31, 2025. The company's primary asset, equipment held for operating lease, stood at $3,024,361 thousand net of accumulated depreciation of $616,665 thousand, up from $2,801,683 thousand net of accumulated depreciation of $640,495 thousand at year-end 2025.

The filing disclosed that restricted cash fell substantially to $122,610 thousand from $530,500 thousand at December 31, 2025. Maintenance rights rose to $146,479 thousand from $30,632 thousand, and equipment held for sale increased to $151,282 thousand from $20,509 thousand over the same period. Total liabilities were reported at $3,221,807 thousand at September 30, 2026, compared with $3,210,777 thousand at December 31, 2025. Maintenance reserves more than doubled to $201,671 thousand from $116,185 thousand.

Total WLFC shareholders' equity was reported at $729,491 thousand as of September 30, 2026, up from $662,137 thousand at December 31, 2025, the filing stated. The company also reported noncontrolling interests of $3,073 thousand at September 30, 2026, where none existed at the prior year-end, bringing total equity to $732,564 thousand. The filing noted that VIE-related debt obligations of $1,477,749 thousand are included in total debt, and that the VIEs' creditors "do not have recourse to Willis Lease Finance Corporation" for those obligations.

What Was Disclosed

Willis Lease Finance Corporation filed its Form 10-Q for the quarter ended September 30, 2026, reporting condensed consolidated balance sheet data, income statements, and cash flows for the three and nine months then ended, along with notes and management's discussion and analysis.