Aircastle (AYR) Tops Q1 EPS by 6c

Aircastle (NYSE: AYR) reported Q1 EPS of $0.16, $0.06 better than the analyst estimate of $0.10. Revenue for the quarter came in at $176.6 million versus the consensus estimate of $163.75 million.

Commenting on the results, Ron Wainshal, Aircastle's CEO, stated: "During the first quarter of 2014, the Company completed several large new investments totaling $715 million, including the first part of our purchase and leaseback deal with LATAM. We also took several important steps to improve our capital structure, including issuing $500 million in new unsecured notes to repay our first and most expensive bond, completing more than $300 million in well priced bank debt financings, repaying our first securitization and enlarging and enhancing our unsecured revolving credit facility. This work, along with many other actions during the quarter improved our portfolio and should increase Aircastle's core profitability."

For earnings history and earnings-related data on Aircastle (AYR) click here.

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