Avolon Holdings Q2 Profit Surges

(RTTNews) - International aircraft leasing company Avolon Holdings Ltd. (AVOL) Wednesday announced a more than double increase in second quarter net income to $55.62 million or $0.68 per share from $23.93 million or $0.31 per share, a year ago. Adjusted earnings surged to $61.59 million from $33.57 million in the prior year. Adjusted earnings were $0.75 per share, up from $0.41 per share last year.

On average, six analysts polled by Thomson Reuters expected the company to earn $0.71 per share. Analysts estimates usually exclude special items.

Total revenue for the quarter increased to $183.91 million from $133.095 million in the previous year. Wall Street was looking for $180.62 million.

Looking ahead to the full year 2015, the company reaffirmed its outlook for adjusted return on equity of 14.7 to 15 percent.