Air Lease Stock Rises After Q4 Profit Beat, Retail Chatter Shoots Up
According to Koyfin data, the aircraft leasing company reported adjusted earnings of $1.34 per share for the three months ended Dec. 31, compared with the Street estimate of $0.75 per share.
FollowAir Lease (AL) stock rose 5.7% on Friday after the company’s fourth-quarter earnings beat Wall Street’s estimates.
According to Koyfin data, the aircraft leasing company reported adjusted earnings of $1.34 per share for the three months ended Dec. 31, compared with the Street estimate of $0.75 per share.
Its quarterly revenue of $712.9 million was also higher than analysts’ estimate of $703.22 million.
Its rental revenues for the reported quarter fell by about 1% to $639 million due to fewer aircraft returns.
Air Lease said its aircraft sales, trading, and other revenues for the fourth quarter rose by 2%, to $74 million.
The company recorded $65 million in gains from selling 14 aircraft during the fourth quarter, compared to $54 million in gains from eight aircraft in the year-ago quarter.
“Looking forward, we expect lease rates and aircraft valuations to rise, supporting the value of our business,” the company said.
The Los Angeles-based company took delivery of 18 aircraft from its order book, representing about $1.3 billion in aircraft investments. It ended 2024 with 489 aircraft in its owned fleet and over $32 billion in total assets.
At the end of the quarter, Air Lease had $29.5 billion in committed minimum future rental payments. This includes $18.3 billion for contracted rental payments on aircraft in its fleet and $11.2 billion for rental payments on aircraft scheduled for delivery between 2025 and 2029.
Retail chatter on Stocktwits jumped to ‘high’ from ‘extremely low.’
Over the past year, Air Lease stock has gained nearly 17%.
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