Air Lease corp. Q2 Profit Increases, beats estimates

(RTTNews) - Air Lease corp. (AL) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $122.0 million, or $1.10 per share. This compares with $105.9 million, or $0.95 per share, in last year's second quarter.

Excluding items, Air Lease corp. reported adjusted earnings of $175.9 million or $1.58 per share for the period.

Analysts on average had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.7% to $672.9 million from $557.7 million last year.

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

-Earnings (Q2): $122.0 Mln. vs. $105.9 Mln. last year. -EPS (Q2): $1.10 vs. $0.95 last year. -Analyst Estimate: $1.07 -Revenue (Q2): $672.9 Mln vs. $557.7 Mln last year.