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Mar 31, 2024
ALC Q1 2024 Earnings Report
ALC's financial performance was announced for the first quarter of 2024, showing a mix of growth and challenges.
Key Takeaways
Air Lease Corporation reported a 4% increase in total revenues to $663 million for Q1 2024, driven by fleet growth and sales activity, but net income attributable to common stockholders decreased to $97 million, or $0.87 per diluted share, due to higher interest expenses.
Took delivery of 14 aircraft, representing approximately $900 million in aircraft investments.
Sold five aircraft for approximately $240 million in sales proceeds.
Placed 100% of committed orderbook on long-term leases for aircraft delivering through the end of 2025.
Increased the capacity of syndicated unsecured revolving credit facility to $7.8 billion and extended the final maturity to May 5, 2028.
Revenue by Segment
Forward Guidance
Air Lease Corporation anticipates a continued positive industry backdrop with aircraft in short supply and values rising.
Positive Outlook
- Continued fleet expansion
- Strong sales activity
- High placement rate of committed orderbook
- Increased capacity of syndicated unsecured revolving credit facility
- Positive industry environment
Challenges Ahead
- Potential inability to obtain additional capital on favorable terms
- Increases in borrowing costs
- Obsolescence of aircraft
- Impaired financial condition of lessees
- Increased competition from other lessors
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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