LOS ANGELES (AP) — LOS ANGELES (AP) — Air Lease Corp. (AL) on Monday reported first-quarter net income of $107.9 million.
The Los Angeles-based company said it had net income of 87 cents per share. Earnings, adjusted for pretax expenses and amortization costs, came to $1.31 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.49 per share.
The company that leases planes to airlines posted revenue of $663.3 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $682.4 million.
Air Lease shares have risen 23% since the beginning of the year. The stock has climbed 41% 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
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