Air Lease Q3 Profit Down

(RTTNews) - Air Lease Corp. (AL) reported that its third quarter net income attributable to common stockholders declined to $99.96 million from $100.01 million in the prior year, while earnings per share rose to $0.90 from $0.87 last year.

Total revenues increased by 7.0% to $561.3 million from last year's primarily driven by the continued growth in fleet, significantly lower lease restructuring losses and higher aircraft sales, trading and other revenue, offset by the loss of rental revenue from the termination of leasing activities in Russia and cash basis accounting.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.92 per share and revenues of $575.29 million for the quarter. Analysts' estimates typically exclude special items.