Air Lease Corp

Latest Results (25.12.2024):

Revenue Growth

In the third quarter of 2024, Air Lease Corporation reported revenues of $690.2 million, marking a 4.7% increase from the $659.4 million recorded in the same period of 2023. This growth was primarily driven by the expansion of their fleet and increased lease rates, despite a slight decrease in lease yields due to the sale of older aircraft.

Net Income Decline

Air Lease Corp's net income attributable to common stockholders for the third quarter of 2024 was $91.6 million, or $0.82 per diluted share. This represents a 24.9% decrease from the $122.0 million, or $1.10 per diluted share, reported in the third quarter of 2023. The decline was mainly due to higher interest expenses.

Operating Expenses Increase

Operating expenses for Air Lease Corp in the third quarter of 2024 rose to $559.9 million, a 13.3% increase compared to $494.3 million in the same quarter of the previous year. The rise in expenses was attributed to the increased cost of funds and a higher overall outstanding debt balance.

Dividend Increase

On November 6, 2024, Air Lease Corp's board of directors approved a 5% increase in the quarterly cash dividend, raising it from $0.21 per share to $0.22 per share on their Class A common stock. The next dividend payment is scheduled for January 9, 2025, to shareholders of record as of December 12, 2024.

Future Outlook

Air Lease Corp has placed 100% of its committed orderbook on long-term leases for aircraft delivering through the end of 2025 and 95% for 2026. The company also reported $29.7 billion in committed minimum future rental payments, indicating a strong outlook for continued revenue generation from its fleet.