Air Lease Corporation ends Q4 2023 with 56% net income increase

Air Lease Corporation (ALC) has reported a 56.1% net income increase in the fourth quarter of 2023, up from $134.9 million in the fourth quarter of 2022 to $210.6 million in 2023. Figures also showed a 19.1% increase in revenue for Q4 2023 to $601.6 million. Adjusted diluted earnings per share (EPS) were up to $1.89 in the same period. ALC’s EPS was 81% above TD Cowen’s estimate of $1.05 and 68% above the consensus of $1.12. TD Cowen analysts gave ALC an outperform rating and, in TD Cowen’s insight report, stated: “The shares continue to trade a large discount.