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.
_____
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
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.