LOS ANGELES (AP) — LOS ANGELES (AP) — Air Lease Corp. (AL) on Monday reported third-quarter profit of $146.5 million.
On a per-share basis, the Los Angeles-based company said it had net income of $1.21. Earnings, adjusted for one-time gains and costs, came to $1.29 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.
The company that leases planes to airlines posted revenue of $725.4 million in the period.
Air Lease shares have risen 32% since the beginning of the year. In the final minutes of trading on Monday, shares hit $63.86, an increase of 43% 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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