10-K · April 30, 2026
Air Lease Corporation reported strong Q4 results, exceeding estimates with an actual EPS of $2.20 against an estimate of $1.22 and revenue of $820 million surpassing expectations of $795 million. The company…
Earnings analysis · 10-Q
AL earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Air Lease Corporation's Q1 2026 results reflect a marginal revenue increase of 0.1% year-over-year to $739.2 million, but earnings per share dropped significantly to $1.02 from $3.26, largely due to a lack of…
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Air Lease Corporation's Q1 2026 results reflect a marginal revenue increase of 0.1% year-over-year to $739.2 million, but earnings per share dropped significantly to $1.02 from $3.26, largely due to a lack of extraordinary gains from the previous year. The company completed a merger with Sumisho and saw leveraged portfolio growth in a challenging market environment, with a noted 100% fleet utilization rate. While operating cash flows improved by 29.6%, the overall outlook remains cautious due to geopolitical and macroeconomic factors that could impact future performance.
Reported figures
- Earnings per share
- $1.02
What stood out
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Revenue Maintained Year-over-Year
Total revenues slightly increased to $739.2 million, up 0.1% from $738.3 million in Q1 2025.
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Significant EPS Decline
Diluted EPS for Q1 2026 fell to $1.02, down from $3.26 in Q1 2025, primarily due to a lack of one-time gains.
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Increased Operating Cash Flow
Cash flows from operations increased by 29.6% to $503.3 million compared to $388.3 million last year.
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Strong Lease Utilization
Fleet utilization remained at 100%, indicating robust demand for the company's aircraft.
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$19.9 Billion Debt Load
Total outstanding debt increased to $20.8 billion as of April 30, 2026, highlighting financial leverage post-merger.
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Successful Aircraft Sales Pipeline
The company has $5.6 billion in aircraft sales pipeline, indicating potential liquidity.
What to watch
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Loss of Extraordinary Earnings
In Q1 2025, the company benefited from $331.9 million in insurance settlements, absent in Q1 2026.
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Market Risks Due to Geopolitical Tensions
Continued geopolitical risks, especially related to the Russian-Ukrainian conflict, may impact operations and revenues.
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Higher Financial Leverage Post-Merger
Debt increased to $20.8 billion, raising concerns about servicing costs and financial stability.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 1
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.