This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Air Lease Corporation Announces Third Quarter 2012 Results

Air Lease Corporation (ALC) (NYSE: AL) announced today the results of its operations for the three and nine months ended September 30, 2012.


Air Lease Corporation reports another consecutive quarter of fleet, revenue, profitability and financing growth:

  • Doubled diluted EPS to $0.36 per share in the third quarter of 2012 compared to $0.18 in the third quarter of 2011. Diluted EPS increased 173% to $0.90 per share for the nine months ended September 30, 2012 compared to $0.33 per share for the nine months ended September 30, 2011.
  • Delivered five aircraft from our order book, growing our fleet to 142 aircraft, cost now exceeds $6 billion and is spread across a diverse and balanced customer base of 66 airlines and 37 countries.
  • Completed successful senior unsecured notes offering of $500 million due 2016 bearing interest at a rate of 4.5%.

The following table summarizes the results for the three and nine months ended September 30, 2012 and 2011 (in thousands, except share amounts):

    Three Months Ended   Nine Months Ended
September 30, September 30,
2012   2011   % change 2012   2011   % change
Revenues $ 174,925 $ 92,125


$ 465,651 $ 221,684 110%
Income before taxes $ 57,193 $ 28,341 102% $ 142,687 $ 44,154 223%
Net income $ 37,011 $ 18,271 103% $ 92,110 $ 28,470 224%
Cash provided by operating activities $ 132,276 $ 83,076 59% $ 372,496 $ 166,197 124%
Diluted EPS $ 0.36 $ 0.18 100% $ 0.90 $ 0.33 173%
Adjusted net income (1) $ 44,602 $ 25,122 78% $ 115,415 $ 56,294 105%

Adjusted EBITDA (1)

$ 161,467 $ 79,954 102% $ 422,683 $ 188,001 125%

(1) See notes 1 and 2 to the Consolidated Statements of Income included in this earnings release for a discussion of the non-GAAP measures adjusted net income and adjusted EBITDA.


“We are pleased with ALC’s strong financial and operating performance this quarter, resulting in doubled year over year EPS. Our business model and fundamentals are producing results that exceed the internal plans laid out at the Company’s founding. We continue to execute our robust growth trajectory due to our contracted delivery stream that carries on into the next decade. Although global macro concerns continue to exist, our experienced leadership team has planned ALC’s business model from the outset to adapt to cyclical changes in the industry,” said Steven F. Udvár-Hazy, Chairman and Chief Executive Officer of Air Lease Corporation.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs