Air Lease Corporation (NYSE:AL) Q3 2018 Earnings Conference Call Transcript
Nov 08, 2018 • 04:30 pm ET
Good day, ladies and gentlemen, and welcome to the Air Lease Corporation Third Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. (Operator Instructions) As a reminder, this call is being recorded.
I would now like to introduce your host for today's conference, Mary Liz DePalma, Head of Investor Relations. Please go ahead.
Mary Liz DePalma
Hello everyone and welcome to Air Lease Corporation's earnings call for the third quarter of 2018. This is Mary Liz DePalma, and 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 results for the third quarter of 2018. A copy of our earnings release is available on the Investors section of our website at www.airleasecorp.com. This conference call is being webcast and recorded today, Thursday, November 8, 2018 and the webcast will be available for replay on our website. At this time, all participants to this call are in listen-only mode. At the conclusion of today's conference call, instructions will be given for the Q&A session.
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 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 the Company's future performance represent management's estimates for future results and speak only as of today, November 8, 2018.
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, certain financial measures we will be using during the call, such as adjusted net income before income taxes, adjusted diluted earnings per share before income taxes and adjusted pre-tax return on equity are non-GAAP measures. A description of our reasons for utilizing these non-GAAP measures, as well as our definition of them and reconciliation to corresponding GAAP measures can be found in the earnings release and 10-Q we issued today. This release can be found in both the Investors and Press section of our website at www.airleasecorp.com. Unauthorized recording of this conference call is not permitted.
I would now like to turn the call over to our CEO and President, John Plueger.
Well, thanks, Mary Liz. And good afternoon to all of you and thank you for joining us. I'm happy to report that ALC had an excellent quarter, reporting diluted EPS of $1.32 per share. We achieved record quarterly revenues of $451