By Sabela Ojea
Air Lease logged slightly lower revenue in the fourth quarter, and said it expects to benefit from persisting aircraft shortages in 2025.
The aircraft leasing company on Thursday posted a net profit of $112.9 million, or 83 cents a share, compared with $221.1 million, or $1.89 a share, for the same period a year earlier.
Stripping out one-time items, the company's earnings per share came in at $1.34 a share. Analysts polled by FactSet had forecast adjusted earnings of 87 cents.
Revenue fell 0.5% to $712.9 million, beating the $703.2 million expected by Wall Street. Air Lease said that revenue coming from its rental business fell around 1% to $639 million, while aircraft sales rose 2% to $74 million.
Looking ahead, Chief Executive John Plueger said the company expects lease rates and aircraft valuations to rise.
"We remain optimistic about the ongoing benefits of these trends, given aircraft shortages are anticipated to persist for several years to come," he said.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
February 13, 2025 18:04 ET (23:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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