NYSE$AL
Air Lease Corporation · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
ALC's financial performance was announced for the first quarter of 2024, showing a mix of growth and challenges.
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.
Headline financials
Revenue & EPS history
ALC · Revenue · Quarterly
$663M
Revenue by segment
ALC · $561M total across 1 segment · Q4 2022
- Rental of flight equipment$561M—100.0%
Forward guidance
Air Lease Corporation anticipates a continued positive industry backdrop with aircraft in short supply and values rising.
Tailwinds
- Continued fleet expansion
- Strong sales activity
- High placement rate of committed orderbook
- Increased capacity of syndicated unsecured revolving credit facility
- Positive industry environment
Headwinds
- 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
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 2024
+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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