Aircastle: 2Q Earnings Snapshot
STAMFORD, Conn. (AP) _ Aircastle Ltd. (AYR) on Tuesday reported second-quarter net income of $50.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Stamford, Connecticut-based company said it had profit of 64 cents. Earnings, adjusted for non-recurring costs, were 67 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The aircraft leasing company posted revenue of $204.3 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $194.6 million.
Aircastle shares have declined 13 percent since the beginning of the year. The stock has decreased 15 percent in the last 12 months.