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Willis Lease Finance Corp (NASDAQ:WLFC), currently trading at $144.43 with a market capitalization of $997 million, held its annual meeting of stockholders on Thursday. During the meeting, two Class III Directors were elected for a three-year term ending at the 2028 Annual Meeting. Brendan Curran received 4,324,847 votes in favor, 2,051,093 against, and 31,444 abstentions, with 501,185 broker non-votes. Charles F. Willis, IV received 4,549,475 votes in favor, 1,857,217 against, and 692 abstentions, with 501,185 broker non-votes.
In addition, stockholders ratified the appointment of Grant Thornton LLP as the company’s independent auditors for 2025. The ratification received 6,833,486 votes in favor, 74,523 against, and 560 abstentions, with no broker non-votes.
The meeting was attended by 6,908,569 shares, representing 90% of the total outstanding common shares eligible to vote. This information is based on a press release.
In other recent news, Willis Lease Finance Corporation reported its Q1 2025 earnings, showcasing a revenue of $157.7 million, which surpassed forecasts and marked a 33% increase from the previous year. However, the company’s earnings per share (EPS) of $2.21 fell short of the expected $4.01. In a strategic financial move, Willis Lease Finance has priced $596 million in asset-backed notes through its subsidiary, Willis Engine Structured Trust VIII. This offering includes $524 million in Series A Fixed Rate Notes and $72 million in Series B Fixed Rate Notes, backed by a portfolio of aircraft engines and airframes. Additionally, Willis Lease Finance announced the appointment of Z. Clifton Dameron as the new Senior Vice President, General Counsel, and Corporate Secretary, following the departure of Dean M. Poulakidas. The company also exercised purchase rights for 30 additional LEAP engines, which aligns with its strategy to enhance its leasing solutions. Despite the positive revenue growth, the EPS miss contributed to a decline in investor sentiment. These developments reflect Willis Lease Finance’s ongoing efforts to strengthen its market position and operational capabilities.
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