Shares of Air Lease Recover After 12% Drop

Air Lease Corporation AL, as its name would suggest, leases airplanes to commercial airlines. The company operates globally, with 87.3% of its customers located outside of the US and Canada as of December 31st last year. At that time, the company owned 102 aircraft.

Yesterday, the company released earnings per share of $0.26, below the consensus analyst estimate of approximately $0.29. This followed three consecutive quarters of positive earnings per share surprises. This morning, shares of the company opened around 12% lower, but then recovered significantly, now priced about 4% lower for the day.

Disclosure: At the time of this writing, I did not own shares of any companies mentioned in this post.