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Scott B. Flaherty, Executive Vice President and Chief Financial Officer of Willis Lease Finance Corp (NASDAQ:WLFC), a $1.12 billion market cap company with impressive 91.5% gross profit margins, recently executed a series of stock sales totaling approximately $2.7 million. The transactions, documented in a recent SEC filing, involved the sale of 14,000 shares of common stock over three days.
On March 24, Flaherty sold 5,026 shares at a weighted average price of $184.50, with prices ranging from $183.33 to $187.02. The following day, March 25, he sold an additional 8,435 shares at an average price of $178.73, with trade prices ranging from $175.07 to $183.86. The final transaction occurred on March 26, when Flaherty sold 1,539 shares at an average price of $170.90, with prices ranging from $168.06 to $177.75. These sales come as WLFC stock has shown strong performance, up 265.9% over the past year.
Following these transactions, Flaherty retains ownership of 69,296 shares of the company. According to InvestingPro, WLFC currently trades at a P/E ratio of 10.6, with 12 additional exclusive insights available to subscribers through detailed Pro Research Reports.
In other recent news, Willis Lease Finance Corporation reported a strong financial performance for the full year 2024, achieving record revenues of $569.2 million and a 127% increase in earnings before tax. The company’s net income rose by 159% compared to 2023, reflecting successful strategic initiatives. Additionally, Willis Lease expanded its credit facility to $1 billion, enhancing its financial flexibility. In a strategic move, Willis Lease also announced a joint venture with Global Engine Maintenance to establish an engine test cell facility in Florida, named Willis Global Engine Testing. This initiative aims to address the shortage of engine testing facilities in North America.
Furthermore, Willis Lease renewed the employment agreement with Charles F. Willis IV, who will continue as Executive Chairman, with a significant restricted stock award valued at $8 million. The agreement includes an annual base salary of $1,269,000 and a target annual bonus of 150% of this base salary. Despite these positive developments, the company’s stock experienced a decline, which may reflect investor concerns about future earnings potential. The company remains focused on diversifying its funding sources and exploring new growth opportunities in the engine leasing market.
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