NYSE$AL
Air Lease Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported strong first quarter results driven by fleet growth and increased air travel demand.
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.
Headline financials
Revenue & EPS history
ALC · Revenue · Quarterly
$636M
Revenue by segment
ALC · $561M total across 1 segment · Q4 2022
- Rental of flight equipment$561M—100.0%
Forward guidance
Air Lease Corporation anticipates OEM delivery delays persisting for several years ahead.
Tailwinds
- 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.
Headwinds
- 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.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+1.3%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+1.2%
Avg return
30 days after
62%
39 / 63 earnings
Positive
+15.5%
Q1 2020
Best reaction
-17.2%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | +0.1% | +0.2% | -0.1% | |
| Q3 2025 | -0.3% | -0.1% | +0.1% | |
| Q2 2025 | -0.4% | +0.7% | +15.4% | |
| Q1 2025 | +8.1% | +10.0% | +17.0% | |
| Q4 2024 | +6.7% | +10.3% | -0.7% | |
| Q3 2024 | -0.5% | +2.2% | +5.7% | |
| Q2 2024 | -17.2% | -14.6% | -6.8% | |
| Q1 2024 | -7.0% | -4.5% | -8.7% | |
| Q4 2023 | -2.9% | -4.1% | +11.4% | |
| Q3 2023 | -1.2% | +1.4% | +5.7% | |
| Q2 2023 | -0.9% | +0.9% | -1.4% | |
| Q1 2023 | -3.4% | -5.9% | -5.5% | |
| Q4 2022 | -4.2% | -6.2% | -18.5% | |
| Q3 2022 | +1.3% | +2.9% | +12.7% | |
| Q2 2022 | +2.1% | +0.8% | -3.5% | |
| Q1 2022 | -6.6% | -11.7% | -8.8% | |
| Q4 2021 | +2.5% | +2.1% | -4.0% | |
| Q3 2021 | +10.1% | +11.6% | -8.1% | |
| Q2 2021 | +1.0% | +1.0% | -3.6% | |
| Q1 2021 | -9.1% | -7.6% | -3.9% | |
| Q4 2020 | +4.0% | +2.0% | +3.8% | |
| Q3 2020 | +10.6% | +15.4% | +34.5% | |
| Q2 2020 | +5.1% | +10.7% | +13.3% | |
| Q1 2020 | +15.5% | +1.7% | +49.3% | |
| Q4 2019 | -4.0% | -3.4% | -47.5% | |
| Q3 2019 | -1.1% | -1.6% | +1.3% | |
| Q2 2019 | +3.6% | +0.7% | +8.2% | |
| Q1 2019 | +1.5% | +0.5% | +0.5% | |
| Q4 2018 | -0.2% | -0.5% | -14.7% | |
| Q3 2018 | -0.2% | -3.7% | -10.2% | |
| Q2 2018 | +1.7% | +1.8% | -0.4% | |
| Q1 2018 | -0.6% | +0.6% | +1.8% | |
| Q4 2017 | +1.5% | -3.1% | -8.5% | |
| Q3 2017 | +1.3% | -3.2% | +2.8% | |
| Q2 2017 | +8.3% | +8.1% | +3.0% | |
| Q1 2017 | -4.5% | -7.5% | -0.8% | |
| Q4 2016 | -4.7% | -2.6% | -5.6% | |
| Q3 2016 | +4.7% | +4.8% | +16.3% | |
| Q2 2016 | +1.5% | -0.4% | +4.8% | |
| Q1 2016 | +6.3% | — | — | |
| Q4 2015 | +2.5% | — | — | |
| Q3 2015 | +5.1% | — | — | |
| Q2 2015 | +3.4% | — | — | |
| Q1 2015 | +0.1% | — | — | |
| Q4 2014 | -1.3% | — | — | |
| Q3 2014 | +1.1% | — | — | |
| Q2 2014 | +4.9% | — | — | |
| Q1 2014 | +3.6% | — | — | |
| Q4 2013 | +5.2% | — | — | |
| Q3 2013 | +3.4% | — | — | |
| Q2 2013 | -1.5% | — | — | |
| Q1 2013 | +2.0% | — | — | |
| Q4 2012 | +5.9% | — | — | |
| Q3 2012 | +2.8% | — | — | |
| Q2 2012 | -0.6% | — | — | |
| Q1 2012 | -6.2% | — | — | |
| Q1 2011 | -6.2% | — | — | |
| Q4 2011 | +1.8% | — | — | |
| Q3 2011 | +2.6% | — | — | |
| Q3 2010 | +2.6% | — | — | |
| Q2 2010 | +7.1% | — | — | |
| Q2 2011 | +7.1% | — | — | |
| Q4 2010 | +7.1% | — | — | |
| Q1 2010 | — | — | — |
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