LOS ANGELES (AP) — Air Lease Corp. (AL) on Thursday reported third-quarter earnings of $146.6 million.

On a per-share basis, the Los Angeles-based company said it had net income of $1.32. Earnings, adjusted for non-recurring costs and stock option expense, were $1.41 per share.

The company that leases planes to airlines posted revenue of $450.7 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $442.3 million.

Air Lease shares have dropped 17 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $39.74, a decrease of roughly 7 percent in the last 12 months.

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

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