Air Lease (AL) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Air Lease (AL) reported $659.36 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 17.5%. EPS of $1.10 for the same period compares to $0.90 a year ago.
The reported revenue represents a surprise of +0.03% over the Zacks Consensus Estimate of $659.17 million. With the consensus EPS estimate being $1.08, the EPS surprise was +1.85%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Air Lease performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Total Number of Aircraft in Service - Owned fleet: 448 compared to the 455 average estimate based on two analysts.
Revenues- Aircraft sales, trading and other: $55.34 million versus $40.29 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +177.6% change.
Revenues- Rental of flight equipment: $604.03 million compared to the $617.45 million average estimate based on two analysts. The reported number represents a change of +11.6% year over year.
View all Key Company Metrics for Air Lease here>>>
Shares of Air Lease have returned -2.5% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Air Lease Corporation (AL) : Free Stock Analysis Report
