Air Lease (US:AL) ZACKS·2024-11-06 16:00Core Viewpoint - Air Lease Corporation (AL) is set to report its third-quarter 2024 results on November 7, with expectations of mixed performance based on recent earnings history and revised estimates [1][2]. Financial Performance Expectations - The Zacks Consensus Estimate for AL's third-quarter 2024 revenues is $681.7 million, reflecting a 3.4% increase from the same quarter in 2023 [3]. - Expected revenues from rental flight equipment are projected at $638.4 million, indicating a 6% growth year-over-year [4]. - Aircraft sales, trading activity, and other sources are anticipated to generate $95 million in revenues, representing a significant 71.5% increase from the previous year [4]. Earnings Performance Insights - AL has a mixed earnings surprise history, with earnings exceeding the Zacks Consensus Estimate in two of the last four quarters and missing in two, averaging a surprise of 10.11% [2]. - The Zacks Consensus Estimate for AL's third-quarter earnings has been revised downward by 2.4% over the past 60 days [2]. - The company's second-quarter 2024 earnings were reported at $1.23 per share, missing the Zacks Consensus Estimate of $1.56, with total revenues of $667.3 million also falling short of expectations [6]. Operational Challenges - High operating expenses, particularly elevated interest expenses, are expected to negatively impact AL's bottom-line performance in the third quarter [4]. - The company currently has an Earnings ESP of 0.00% and a Zacks Rank of 3 (Hold), indicating uncertainty regarding an earnings beat [5].