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Mar 31, 2023
ALC Q1 2023 Earnings Report
Reported strong first quarter results driven by fleet growth and increased air travel demand.
Key Takeaways
Air Lease Corporation reported a strong first quarter in 2023, with revenues increasing by 6.6% to $636.1 million and net income attributable to common stockholders reaching $118.3 million, or $1.06 per diluted share. The results were driven by robust fleet growth and expanding global air travel demand.
ALC's revenues increased by 6.6% to $636.1 million compared to the same period last year.
Net income attributable to common stockholders was $118.3 million, or $1.06 per diluted share, a significant improvement from the previous year's net loss.
The company took delivery of 22 aircraft, representing approximately $1.4 billion in aircraft investments.
ALC extended the final maturity of its $7.2 billion syndicated unsecured revolving credit facility by one year to May 5, 2027.
ALC
ALC
ALC Revenue by Geographic Location
Revenue by Geographic Location
Europe Revenue
CapyFin.comLatAm & Mexico Revenue
CapyFin.comMiddle East & Africa Revenue
CapyFin.comU.S. & Canada Revenue
CapyFin.com Forward Guidance
Air Lease Corporation anticipates OEM delivery delays persisting for several years ahead.
Positive Outlook
- Global air travel demand continues to expand meaningfully.
- Airline yields are healthy.
- Aircraft capacity remains constrained.
- The need for new fuel-efficient commercial aircraft continues to rise.
- Orderbook positions and existing fleet values are bolstered.
Challenges Ahead
- OEM delivery delays are expected to persist for several years.
- Increases in the company's composite cost of funds.
- Aircraft transition costs increased.
- Insurance expense increased.
- Lower end of lease revenue recognized.
Revenue & Expenses
Visualization of income flow from segment revenue to net income