Air Lease Corporation’s AL second-quarter 2021 earnings of 75 cents per share missed the Zacks Consensus Estimate of 84 cents. The bottom line declined 40.5% year over year due to lower revenues and increased costs. Results reflect the impact of coronavirus on the company’s operations.Quarterly revenues of $491.9 million also fell short of the Zacks Consensus Estimate of $495.6 million. The top line slipped 5.7% year over year due to 9.2% dip in revenues from rental of flight equipment, which contributed 91.9% to the top line.Other StatisticsRevenues from aircraft sales, trading activity and other sources rose 69.6% to $39.83 million in the reported quarter. Total expenses rose 11.8% to $377.32 million due to higher interest expenses and depreciation of flight equipment costs. The company’s collection rate was 87% for the second quarter compared with 84% in the first quarter. Air Lease anticipates its collection rate to remain under pressure due to the effects of COVID-19.As of Jun 30, 2021, Air Lease owned 354 aircraft with a net book value of $21.5 billion. Total fleet size at the end of the second quarter was 805 (including owned fleet of 354), compared with 799 at the end of December 2020.Air Lease Corporation Price, Consensus and EPS Surprise Air Lease Corporation price-consensus-eps-surprise-chart | Air Lease Corporation QuoteLiquidityAir Lease, carrying a Zacks Rank #3 (Hold), exited the second quarter with cash and cash equivalents of $1.21 billion compared with $1.73 billion at 2020-end. As of Jun 30, 2021, the company had $16.54 billion of debt financing, net of discount and issuance costs compared with $16.52 billion as of Dec 31, 2020.At the end of the second quarter, Air Lease had a strong liquidity position of $7.6 billion, which should help the company tackle coronavirus-induced challenges efficiently.Dividend UpdateAir Lease’s board approved a quarterly cash dividend of 16 cents per share, payable to shareholders on Oct 8, of record as of Sep 10.Sectorial SnapshotsLet’s take a look at some of the other recently released earnings reports from companies within the Zacks Transportation sector:Knight-Swift Transportation Holdings KNX, carrying a Zacks Rank #2 (Buy), reported second-quarter 2021 earnings (excluding 6 cents from non-recurring items) of 98 cents per share, surpassing the Zacks Consensus Estimate of 87 cents. Total revenues of $1,315.7 million also outperformed the Zacks Consensus Estimate of $1,300.8 million. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.United Parcel Service UPS, carrying a Zacks Rank #3, reported second-quarter 2021 earnings (excluding a penny from non-recurring items) of $3.06 per share, beating the Zacks Consensus Estimate of $2.75. Quarterly revenues of $23,424 million also outperformed the Zacks Consensus Estimate of $23,085.4 million.Ryanair Holdings RYAAY, carrying a Zacks Rank #4 (Sell), incurred a loss of $1.46 per share in the first quarter of fiscal 2022 (ended Jun 30, 2021), narrower than the Zacks Consensus Estimate of a loss of $1.50. Quarterly revenues of $446.4 million fell short of the Zacks Consensus Estimate of $459 million. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report United Parcel Service, Inc. (UPS): Free Stock Analysis Report KnightSwift Transportation Holdings Inc. (KNX): Free Stock Analysis Report Air Lease Corporation (AL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research