U.S. Markets closed

Air Lease: 3Q Earnings Snapshot

LOS ANGELES (AP) _ Air Lease Corp. (AL) on Thursday reported third-quarter profit of $155.8 million.

On a per-share basis, the Los Angeles-based company said it had net income of $1.34.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.

The company that leases planes to airlines posted revenue of $530.9 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $526.2 million.

Air Lease shares have risen 54% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.63, a climb of 15% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AL at https://www.zacks.com/ap/AL