Air Lease corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Air Lease corp. (AL) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $97.4 million, or $0.87 per share. This compares with $118.3 million, or $1.06 per share, in last year's first quarter.

Excluding items, Air Lease corp. reported adjusted earnings of $146.3 million or $1.31 per share for the period.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.3% to $663.3 million from $636.1 million last year.

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

-Earnings (Q1): $97.4 Mln. vs. $118.3 Mln. last year. -EPS (Q1): $0.87 vs. $1.06 last year. -Revenue (Q1): $663.3 Mln vs. $636.1 Mln last year.