A month has gone by since the last earnings report for Air Lease (AL Quick QuoteAL - Free Report) . Shares have added about 0.7% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Air Lease due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Air Lease Corporation before we dive into how investors and analysts have reacted as of late.

AL's Q3 Earnings Miss Estimates

Air Lease reported third-quarter 2025 earnings per share of $1.29, which missed the Zacks Consensus Estimate of $1.60. However, the bottom line improved 3.2% year over year owing to an increase in AL’s total rental of flight equipment revenue, partially offset by lower sales activity and higher interest expense.

Total revenues of $725.4 million missed the Zacks Consensus Estimate of $737.3 million but grew 5.1% year over year.

Other Statistics

Revenues from the rental of flight equipment grew 9% year over year to $681 million. The uptick was owing to the continued growth of AL’s fleet and an increase in the company’s portfolio lease yield. During the third quarter of 2025, AL witnessed almost $20 million from lease revenues.

Revenues from aircraft sales, trading activity and other sources fell 32% from the year-ago quarter to $44 million, owing to lower sales activity. AL witnessed $35 million in gains from the sale of five aircraft during the third quarter.

Operating expenses rose 7.3% year over year to $600.9 million.

As of Sep 30, 2025, Air Lease owned 503 aircraft with a net book value of $29.5 billion. The total fleet size at the third-quarter end was 781 (including the owned fleet of 503, 50 managed fleet and 228 aircraft on order).

Air Lease exited the third quarter with $452.21 million in cash and cash equivalents compared with $454.80 million at the prior-quarter end. Debt financing, net of discount and issuance costs, amounted to $20.2 billion at the third-quarter end compared with $20.3 billion at the prior-quarter end.

How Have Estimates Been Moving Since Then?

Estimates revision followed a downward path over the past two months.

VGM Scores

At this time, Air Lease has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Air Lease has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.

Performance of an Industry Player

Air Lease is part of the Zacks Transportation - Equipment and Leasing industry. Over the past month, Ryder (R Quick QuoteR - Free Report) , a stock from the same industry, has gained 2.8%. The company reported its results for the quarter ended September 2025 more than a month ago.

Ryder reported revenues of $3.17 billion in the last reported quarter, representing a year-over-year change of +0.1%. EPS of $3.57 for the same period compares with $3.44 a year ago.

Ryder is expected to post earnings of $3.65 per share for the current quarter, representing a year-over-year change of +5.8%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #4 (Sell) for Ryder. Also, the stock has a VGM Score of A.