Aircastle tops 4Q profit forecasts

Associated Press |

STAMFORD, Conn. (AP) _ Aircastle Ltd. (AYR) on Tuesday reported fourth-quarter earnings of $55.1 million.

The Stamford, Connecticut-based company said it had profit of 70 cents per share. Earnings, adjusted for one-time gains and costs, were 72 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The aircraft leasing company posted revenue of $177.4 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $181.7 million.

For the year, the company reported profit of $147.9 million, or $1.87 per share. Revenue was reported as $796.6 million.

Aircastle shares have declined 7 percent since the beginning of the year. The stock has decreased roughly 7 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AYR at https://www.zacks.com/ap/AYR

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