Oct. 27 – ** Shares of AerCap AER.N are up 5.8% at $62.90 in premarket trading after the plane lessor raised its full-year profit forecast year and increased its share buyback plans
**The company raised its full-year 2023 earnings forecast to $9.50, from $8.50 to $9.00 three months ago
**The company also announces a new $500 million share repurchase program, bringing total authorizations to $2.65 billion year-to-date
**Adjusted earnings per share of $2.81 in the third quarter, compared with $2.21 in the previous quarter, a penny above the consensus estimate, according to LSEG data
**As a result of this strong performance and our outlook for the remainder of the year, we are once again raising our guidance for the year. Our underlying business continues to perform well and demand for our assets remains robust” – Managing Director Aengus Kelly
** General Electric GE.N owns a ~13.4% stake in AerCap, or about 31.05 million shares, according to the latest LSEG data
**Through Thursday’s close, AER shares are up ~2% year-to-date for a market cap of ~$13.8 billion