Call Start: 16:30 January 1, 0000 5:12 PM ET

Air Lease Corporation (NYSE:AL)

Q1 2023 Earnings Conference Call

May 1, 2023 16:30 ET

Company Participants

Jason Arnold - Head of Investor Relations

John Plueger - President & Chief Executive Officer

Steve Hazy - Executive Chairman

Greg Willis - Executive Vice President & Chief Financial Officer

Conference Call Participants

Catherine O'Brien - Goldman Sachs

Helane Becker - Cowen & Company

Hillary Cacanando - Deutsche Bank

Operator

Good afternoon. My name is Regina and I will be your conference operator today. At this time, I would like to welcome everyone to the Air Lease Corporation Fourth [ph] Quarter Earnings Conference Call. [Operator Instructions]

I will now turn the call over to Mr. Jason Arnold, Head of Investor Relations. Mr. Arnold, you may begin.

Jason Arnold

Thanks, Regina and good afternoon, everyone. Welcome to Air Lease Corporation's first quarter 2023 earnings call. This is Jason Arnold. I'm joined this afternoon by Steve Hazy, our Executive Chairman; John Plueger, our Chief Executive Officer and President; and Greg Willis, our Executive Vice President and Chief Financial Officer. Earlier today, we published our first quarter 2023 results. A copy of our earnings release is available on the investor site -- section of our website at www.airleasecorp.com. This conference call is being webcast and recorded today, Monday, May 1, 2023 and the webcast will be available for replay on our website. At this time all participants to the call are in listen-only mode.

Before we begin, please note that certain statements in this conference call, including certain answers to your questions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. This includes, without limitation, statements regarding the state of the airline industry, including the impact of rising interest rates and inflation, the impact of sanctions imposed on Russia and aircraft delivery delays, our future operations and performance, revenues, operating expenses, stock-based compensation expense and other income and expense items. These statements and any projections as to our future performance represent management's estimates for future results and speak only as of today, May 1, 2023. These estimates involve risks and uncertainties that could cause actual results to differ materially from expectations. Please refer to our filings with the Securities and Exchange Commission for a more detailed description of risk factors that may affect our results. Air Lease Corporation assumes no obligation to update any forward-looking statements or information in light of new information or future events. In addition, we may discuss certain financial measures such as adjusted net income before income taxes, adjusted diluted earnings per share before income taxes and adjusted pretax return on equity which are non-GAAP measures.