Air Lease Tops Q3 Earnings On Growth In Fleet & Sales Activity, Boosts Dividend By 5%
Portfolio Pulse from Lekha Gupta
Air Lease Corp (NYSE:AL) reported Q3 FY23 revenue of $659.4 million, a 17.5% increase Y/Y, beating the consensus of $657.7 million. The revenue growth was driven by an increase in fleet size and sales activity. The company also increased its quarterly cash dividend per share by 5% to $0.21. As of November 6, 2023, the company had 40 aircraft with a carrying value of about $1.8 billion in the sales pipeline.
November 06, 2023 | 3:45 pm
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Air Lease Corp's Q3 FY23 revenue beat consensus, driven by increased fleet size and sales activity. The company also increased its quarterly cash dividend per share by 5%.
Air Lease Corp's better-than-expected Q3 FY23 revenue and increased dividend are positive signals for investors, which could lead to a short-term increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100