Stock Monitor: AeroCentury Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 6, 2018 / Active-Investors.com has just released a free earnings report on Air Lease Corp. (NYSE: AL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AL. The Company posted its financial results on February 22, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17), and for the full fiscal year 2017 (FY17). The Los Angeles, California-based Company's total revenues and adjusted diluted earnings per share (EPS) grew 7.6% and 19.1% y-o-y, respectively; outperforming market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for AeroCentury Corp. (NYSE American: ACY), 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
During Q4 FY17, Air Lease posted total revenues of $398.47 million, up from $370.49 million recorded at the end of Q4 FY16. The Company's total revenue numbers for the reported quarter topped market expectations of $381.9 million. The rental of flight equipment revenues were $378.48 million in Q4 FY17 compared to $353.63 million in the last year's same quarter. Furthermore, the Company's aircraft sales, trading, and other revenues amounted to $19.99 million in the reported quarter, rising from $16.86 million in Q4 FY16.
The Company that leases planes to airlines reported a net income of $471.10 million, or $4.22 per diluted share, in Q4 FY17, up from $96.99 million, or $0.89 per diluted share, in Q4 FY16. The Company's earnings, excluding the effects of the Tax Reform Act, rose to $116.98 million, or $1.06 per diluted share, in Q4 FY17, up from $96.99 million, or $0.89 per diluted share, in Q4 FY16. Meanwhile, Wall Street had expected the Company to report adjusted diluted EPS of $0.87.
The Los Angeles, California-based Company's total revenues grew 6.9% to $1.52 billion in FY17 compared to $1.42 billion in FY16. The Company's net income also increased to $756.15 million, or $6.82 per diluted share, in FY17 from $374.93 million, or $3.44 per diluted share, in FY16. Furthermore, the Company's earnings, excluding the effects of the Tax Reform Act, came in at $402.03 million, or $3.65 per diluted share, in FY17, which came in above $374.93 million, or $3.44 per diluted share, in FY16.
For the three months ended December 31, 2017, the Company incurred selling, general, and administrative expenses (SG&A) of $25.65 million versus $23.06 million in the prior year's comparable quarter. The Company's total expenses stood at $232.81 million in the reported quarter compared to $221.08 million in Q4 FY16. Furthermore, the Company reported an adjusted net income before income taxes of $178.10 million, or $1.60 per diluted share, in Q4 FY17 versus $162.31 million, or $1.48 per diluted share, in Q4 FY16.
Air Lease posted a pre-tax margin of 41.6% in Q4 FY17 compared to 40.3% in Q4 FY16. The Company's adjusted pre-tax return on equity was 17.5% for the trailing twelve months ended December 31, 2017, versus 19.5% in the same period of last year.
As of December 31, 2017, the Company's fleet comprised 244 owned aircraft, with a weighted-average age and remaining lease term of 3.8 years and 6.8 years, respectively; and 50 managed aircraft. Furthermore, Air Lease took delivery of 8 new aircraft and sold 2 aircraft from its operating lease portfolio during Q4 FY17.
The Company's net cash provided by operating activities was $1.06 billion in FY17 compared to $1.02 billion in FY16. The Company had a cash and cash equivalents balance of $292.20 million as on December 31, 2017, compared to $274.80 million at the close of books as on December 31, 2016.
Dividend and Share Repurchase
In its earnings press release, Air Lease's Board of Directors declared a quarterly cash dividend of $0.10 per share for the fourth quarter of FY17. The dividend is payable on April 06, 2018, to common stockholders of record as of March 20, 2018.
Stock Performance Snapshot
April 05, 2018 - At Thursday's closing bell, Air Lease's stock marginally climbed 0.87%, ending the trading session at $43.94.
Volume traded for the day: 716.26 thousand shares, which was above the 3-month average volume of 707.35 thousand shares.
Stock performance in the last month – up 1.27%; and past twelve-month period – up 15.12%
After yesterday's close, Air Lease's market cap was at $4.49 billion.
Price to Earnings (P/E) ratio was at 12.03.
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 1.0% at the end of the session.
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