Benzinga | May 6, 2021 05:05PM EDT

Recap: Air Lease Q1 Earnings

Shares of Air Lease (NYSE:AL) moved lower in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 36.02% over the past year to $1.03, which beat the estimate of $0.94.

Revenue of $474,827,000 decreased by 7.15% from the same period last year, which missed the estimate of $503,750,000.

Guidance

Air Lease hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

How To Listen To The Conference Call

Date: May 06, 2021

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/m8xsge4c

Recent Stock Performance

52-week high: $52.96

Company's 52-week low was at $19.74

Price action over last quarter: Up 4.32%

Company Description

Air Lease Corp is an aircraft leasing company based in the United States. However, it derives most of its revenue from the Asia region. Its business involves purchasing aircraft from renowned manufacturers such as The Boeing Company (Boeing) and Airbus S.A.S and leasing them to airline companies across the world. Its suite of aircraft entails single-aisle narrow-bodied jets and twin-aisle wide-bodied aircraft. The company's primary source of revenue originates from the leasing of aircraft and to a certain extent from the provision of fleet management services to investors and owners of aircraft portfolios.