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Air Lease has outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 6.00%.
Let’s see how things have shaped up for Air Lease this earnings season.
Q4 Expectations
The Zacks Consensus Estimate for Air Lease’s fourth-quarter 2023 revenues is pegged at $683.51 million, indicating growth of 13.61% year over year. The top line is likely to have benefited from continuous growth in the company’s fleet and an increase in sales activity.
The Zacks Consensus Estimate for fourth-quarter revenues of rental of flight equipmentis pegged at $617 million, indicating 9.9% growth from the year-ago reported figure. The Zacks Consensus Estimate for aircraft sales, trading activity and other sources’ fourth-quarter revenues is pegged at $68 million, indicating 68.6% growth from the year-ago reported figure.
However, escalating operating expenses due to higher interest expenses and depreciation of flight equipment costsmight be a concern forAir Lease’sbottom line in the fourth quarter. The Zacks Consensus Estimate for AL’s fourth-quarter 2023 earnings has been revised downward by 5.2% in the past 90 days.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Air Lease this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Air Lease has an Earnings ESP of -2.22% and a Zacks Rank #5 (Strong Sell).
Air Lease reported third-quarter 2023 earnings of $1.10 per share, which surpassed the Zacks Consensus Estimate of $1.08 and improved 22.2% on a year-over-year basis. Total revenues of $659.4 million outpaced the Zacks Consensus Estimate of $659.2 million and jumped 17.5% year over year, owing to the continuous growth in the company’s fleet and an increase in sales activity.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on their fourth-quarter 2023 earnings:
WAB has an expected earnings growth rate of 20.77% for fourth-quarter 2023. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s fourth-quarter 2023 earnings has improved 3.3% over the past 90 days. Shares of WAB have gained 18.6% in the past three months.
Scorpio Tankers Inc. (STNG - Free Report) has an Earnings ESP of +4.12% and a Zacks Rank #3. STNG will release results on Feb 14.
STNG delivered a trailing four-quarter earnings surprise of 7.70%, on average.
Shares of STNG have gained 16.5% in the past three months.
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Air Lease (AL) to Report Q4 Earnings: What's in the Cards?
Air Lease Corporation (AL - Free Report) is scheduled to report fourth-quarter 2023 results on Feb 15, after market close.
Air Lease has outperformed the Zacks Consensus Estimate in each of the preceding four quarters, the average beat being 6.00%.
Let’s see how things have shaped up for Air Lease this earnings season.
Q4 Expectations
The Zacks Consensus Estimate for Air Lease’s fourth-quarter 2023 revenues is pegged at $683.51 million, indicating growth of 13.61% year over year. The top line is likely to have benefited from continuous growth in the company’s fleet and an increase in sales activity.
The Zacks Consensus Estimate for fourth-quarter revenues of rental of flight equipmentis pegged at $617 million, indicating 9.9% growth from the year-ago reported figure. The Zacks Consensus Estimate for aircraft sales, trading activity and other sources’ fourth-quarter revenues is pegged at $68 million, indicating 68.6% growth from the year-ago reported figure.
However, escalating operating expenses due to higher interest expenses and depreciation of flight equipment costsmight be a concern forAir Lease’sbottom line in the fourth quarter. The Zacks Consensus Estimate for AL’s fourth-quarter 2023 earnings has been revised downward by 5.2% in the past 90 days.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Air Lease this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Air Lease has an Earnings ESP of -2.22% and a Zacks Rank #5 (Strong Sell).
Air Lease Corporation Price and EPS Surprise
Air Lease Corporation price-eps-surprise | Air Lease Corporation Quote
Highlights of Q3
Air Lease reported third-quarter 2023 earnings of $1.10 per share, which surpassed the Zacks Consensus Estimate of $1.08 and improved 22.2% on a year-over-year basis. Total revenues of $659.4 million outpaced the Zacks Consensus Estimate of $659.2 million and jumped 17.5% year over year, owing to the continuous growth in the company’s fleet and an increase in sales activity.
Stocks to Consider
Here are a few stocks from the broader Zacks Transportation sector that investors may consider, as our model shows that these have the right combination of elements to beat on their fourth-quarter 2023 earnings:
Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation (WAB - Free Report) , has an Earnings ESP of +2.76% and a Zacks Rank #2. WAB will release results on Feb 14.You can see the complete list of today’s Zacks #1 Rank stocks here.
WAB has an expected earnings growth rate of 20.77% for fourth-quarter 2023. WAB delivered a trailing four-quarter earnings surprise of 7.11%, on average.
The Zacks Consensus Estimate for WAB’s fourth-quarter 2023 earnings has improved 3.3% over the past 90 days. Shares of WAB have gained 18.6% in the past three months.
Scorpio Tankers Inc. (STNG - Free Report) has an Earnings ESP of +4.12% and a Zacks Rank #3. STNG will release results on Feb 14.
STNG delivered a trailing four-quarter earnings surprise of 7.70%, on average.
Shares of STNG have gained 16.5% in the past three months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.