Stock Monitor: AMERCO Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 18, 2018 / If you want access to our free earnings report on Air Lease Corp. (NYSE: AL), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AL. The Company reported its first quarter fiscal 2018 operating and financial results on May 10, 2018. The Company, which leases planes to airlines, surpassed earnings estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for AMERCO (NASDAQ: UHAL), which also belongs to the Services sector as the Company Air Lease. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Air Lease most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended March 31, 2018, Air Lease recorded revenues of $381.2 million, reflecting an increase of 5.8% compared to $360.2 million in Q1 2017. The Company's revenue numbers lagged analysts' estimates by $2.16 million.
Air Lease recorded a pre-tax margin of 37.1% in Q1 2018 compared to $37.2% in Q1 2017. The Company's adjusted pre-tax margin was 40.1% in the reported quarter compared to 40.7% in the prior year's same quarter.
For Q1 2018, Air Lease reported earnings of $110.7 million, or $1.00 per diluted share, compared to $84.9 million, or $0.78 per diluted share, in Q1 2017. The Company's adjusted net income before income taxes was $152.8 million, or $1.38 per diluted share, in the reported quarter versus $146.6 million, or $1.33 per diluted share, in the year earlier comparable quarter. Air Lease's earnings numbers beat Wall Street's estimates of $1.10 per share.
Air Lease posted a pre-tax return on equity of 16.1% in the trailing twelve months ended March 31, 2018. The Company recorded an adjusted pre-tax return on equity of 17.3% in the trailing twelve months ended March 31, 2018.
Flight Equipment Portfolio
Air Lease's fleet grew by 2.3% based on a net book value of $13.6 billion as of March 31, 2018, compared to $13.3 billion as of December 31, 2017. As of March 31, 2018, the Company's fleet was comprised of 253 owned aircraft, with a weighted-average age and remaining lease term of 3.9 years and 6.7 years, respectively, and 49 managed aircraft. Air Lease had a globally diversified customer base of 93 airlines in 56 countries.
During Q1 2018, Air Lease took delivery of 4 aircraft from its order book and 5 incremental aircraft from the secondary market; representing $441 million in capital expenditure, ending the quarter with $13.6 billion in aircraft with a weighted average age of 3.9 years and a weighted average lease term remaining of 6.7 years. The Company had 253 aircraft in its operating lease portfolio at the end of Q1 2018.
Air Lease's aircraft on order are 100% placed through 2019, and 81% placed through 2020 on long-term leases.
During Q1 2018, Air Lease signed a firm order with Boeing for an additional 8 Boeing 737-8 MAX aircraft, with deliveries beginning in 2020 through 2022. The Company ended the quarter with $23.5 billion in committed minimum future rental payments, consisting of $10.2 billion in contracted minimum rental payments on the aircraft in its existing fleet and $13.3 billion in minimum future rental payments related to aircraft delivering in the future.
Debt Financing Activities
Air Lease ended Q1 2018 with a total debt financing, net of discounts and issuance costs, of $9.9 billion, resulting in a debt to equity ratio of 2.34:1.
As of March 31, 2018, Air Lease's debt financing was comprised of an unsecured debt of $9.5 billion; representing 95.0% of the Company's debt portfolio compared to 94.6% as of December 31, 2017.
Stock Performance Snapshot
June 15, 2018 - At Friday's closing bell, Air Lease's stock slightly rose 0.16%, ending the trading session at $43.94.
Volume traded for the day: 950.86 thousand shares, which was above the 3-month average volume of 595.62 thousand shares.
Stock performance in the past twelve-month period – up 14.31%
After last Friday's close, Air Lease's market cap was at $4.60 billion.
Price to Earnings (P/E) ratio was at 11.33.
The stock has a dividend yield of 0.91%.
The stock is part of the Services sector, categorized under the Rental & Leasing Services industry. This sector was up 0.1% at the end of the session.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.