LOS ANGELES (AP) — LOS ANGELES (AP) — Air Lease Corp. (AL) on Monday reported first-quarter profit of $375.8 million.

The Los Angeles-based company said it had net income of $3.26 per share. Earnings, adjusted for one-time gains and costs, came to $1.51 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.

The company that leases planes to airlines posted revenue of $738.3 million in the period.

Air Lease shares have climbed 1% since the beginning of the year. In the final minutes of trading on Monday, shares hit $48.76, a drop of 5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AL at https://www.zacks.com/ap/AL