Air Lease: 2Q Earnings Snapshot
LOS ANGELES (AP) _ Air Lease Corp. (AL) on Thursday reported second-quarter net income of $128.3 million.
The Los Angeles-based company said it had net income of $1.10 per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The company that leases planes to airlines posted revenue of $471.4 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $487.7 million.
Air Lease shares have risen 33% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.18, a fall of slightly more than 9% in the last 12 months.