Published on 8 May 2024 on Zacks via Yahoo Finance
Air Lease (AL) Q1 Earnings & Revenues Fall Short of Estimates
Air Lease Corporation AL reported lower-than-expected first-quarter 2024 results, wherein both earnings and revenues lagged the Zacks Consensus Estimate.
AL’s quarterly earnings per share (excluding 44 cents from non-recurring items) of $1.31 fell short of the Zacks Consensus Estimate of $1.49. Results were hurt by high expenses. Quarterly earnings, however, improved 23.6% on a year-over-year basis. Total revenues of $663.3 million lagged the consensus mark of $682.4 million. However, the top line improved 4.27% year over year owing to continuous growth in the company’s fleet.