Benzinga | Nov 9, 2020 04:57PM EST

Recap: Air Lease Q3 Earnings

Shares of Air Lease (NYSE:AL) were flat in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 18.33% over the past year to $1.47, which beat the estimate of $1.06.

Revenue of $493,601,000 declined by 7.03% year over year, which missed the estimate of $506,280,000.

Looking Ahead

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

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

Conference Call Details

Date: Nov 09, 2020

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/oc7c87oc

Technicals

52-week high: $49.96

52-week low: $8.41

Price action over last quarter: Up 21.33%

Company Overview

Air Lease Corp is an aircraft leasing company based in the United States. However, it derives most of its revenue from the European 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 leasing of aircrafts and to a certain extent from the provision of fleet management services to investors and owners of aircraft portfolios.