Air Lease (AL) reported Q1 adjusted earnings late Monday of $1.51 per diluted share, up from $1.31 a year earlier.

Three analysts polled by FactSet expected $1.10.

Revenue for the quarter ended March 31 was $738.3 million, up from $663.3 million a year earlier.

Analysts surveyed by FactSet expected $710.8 million.

Shares of the company were up 2.5% in recent after-hours activity.