ALC announces Q2 and H1 results

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By admin August 8, 2014 13:40

ALC announces Q2 and H1 results

Air Lease Corporation has announced its financial results for the three and six month periods ending June 30th, 2014, in which the lessor reports another consecutive quarter of fleet, revenue and profitability growth.

Diluted EPS increased 42% to $0.58 per share for Q2 2014, compared to $0.41 per share for Q2 2013.

Revenues increased 23% to $256 million for the quarter, compared to $208 million for Q2 2013.

Income before taxes increased 44% to $96 million with a pre-tax margin of 37% for the quarter. ALC also recorded $13.6 million in gains on aircraft sales, trading and other activity for the same period.

On July 23rd, 2014 we amended our 2010 Warehouse Facility, decreasing the aggregate capacity by $250 million to $750 million, reducing the interest rate by 0.25% to LIBOR plus 2.00% and extended the final maturity date to 2020.

ALC’s board of directors declared a quarterly cash dividend of $0.03 per share on our outstanding common stock.

ALC Chairman and CEO Steven F. Udvar-Házy said: “ALC continued its strong growth in Q2 with increasing revenues and profitability in the core fleet. From our company founding just over four years ago, ALC has now eclipsed $10bn in total assets, and we are executing our vision to be the leasing industry leader with the youngest, most fuel efficient, technologically advanced commercial aircraft. In the face of continued and forecasted demand, we also topped up incremental aircraft orders and fine-tuned our delivery pipeline to maximize potential returns to our shareholders.”

admin
By admin August 8, 2014 13:40