Air Lease: Q4 Earnings Snapshot

LOS ANGELES (AP) — LOS ANGELES (AP) — Air Lease Corp. (AL) on Thursday reported fourth-quarter profit of $221.1 million.

The Los Angeles-based company said it had net income of $1.89 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The company that leases planes to airlines posted revenue of $716.6 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $683.5 million.

For the year, the company reported net income of $614.6 million, or $5.14 per share, swinging to a profit in the period. Revenue was reported as $2.68 billion.

Air Lease shares have climbed nearly 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $43.13, a decrease of roughly 4% in the last 12 months.

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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