Air Lease Corp. Q1 Profit Increases, Beats Estimates

(RTTNews) - Air Lease corp. (AL) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $346.8 million, or $3.26 per share. This compares with $97.4 million, or $0.87 per share, last year.

Excluding items, Air Lease corp. reported adjusted earnings of $169.5 million or $1.51 per share for the period.

Analysts on average had expected the company to earn $1.18 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 11.3% to $738.282 million from $663.310 million last year.

Air Lease corp. earnings at a glance (GAAP) :

-Earnings: $346.8 Mln. vs. $97.4 Mln. last year. -EPS: $3.26 vs. $0.87 last year. -Revenue: $738.282 Mln vs. $663.310 Mln last year.