Air Lease (AL) Q2 Earnings Miss Estimates, Revenues Down Y/Y

Air Lease Corporation’s (AL) second-quarter 2024 earnings of $1.23 per share missed the Zacks Consensus Estimate of$1.56. Total revenues of $667.3 million lagged the Zacks Consensus Estimate of$687.9 million and fell 0.8% year over year.Other StatisticsRevenues from the rental of flight equipment fell 0.4% year over year to $609.5 million in the reported quarter. Despite growth in the company’s fleet, AL’s rental revenues declined due to the sales of older aircraft with higher lease yields and the purchas ...