ALC Q1 2020 Earnings Report
Key Takeaways
Air Lease Corporation reported a revenue increase of 9.7% to $511 million for the first quarter of 2020. However, diluted earnings per share decreased by 4.9% to $1.17, and adjusted diluted earnings per share before income taxes decreased by 3.6% to $1.61. The company's fleet grew, and it maintained a strong liquidity position despite the impact of COVID-19 on the global airline industry.
Revenues increased by 9.7% to $511 million compared to the same period in 2019.
Diluted earnings per share decreased by 4.9% to $1.17.
Adjusted diluted earnings per share before income taxes decreased by 3.6% to $1.61.
The company took delivery of eight aircraft and purchased one aircraft, representing $709 million in aircraft investments.
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Forward Guidance
Company expects continuing customer challenges, including possible airline bankruptcies and aircraft repossessions.