Air Lease Corporation‘s AL second-quarter 2020 earnings of $1.26 per share surpassed the Zacks Consensus Estimate of $1.02. Also, the bottom line increased 14.5% on a year-over-year basis. Also, quarterly revenues of $521.3 million beat the Zacks Consensus Estimate of $499.4 million and increased 10.6% on a year-over-year basis.This year-over-year uptick can be primarily attributed to 7.3% increase in revenues from the rental of flight equipment. Notably, rental of flight equipment revenues contributed 95.5% to the top line.Air Lease Corporation Price, Consensus and EPS Surprise Air Lease Corporation price-consensus-eps-surprise-chart | Air Lease Corporation QuoteOther StatisticsRevenues from aircraft sales, trading activity and other sources surged more than 100% to $23.5 million in the reported quarter. Total expenses rose 8.5% to $337.4 million due to higher interest expenses, depreciation of flight equipment costs as well as other factors.As of Jun 30, Air Lease owned 301 aircraft in the operating lease portfolio, with a net book value of $19.1 billion. Total fleet size at the end of first quarter was 800 (including owned fleet of 301) compared with 858 (including owned fleet of 292) at 2019-end.Thanks to the COVID-19 outbreak, the company reduced capital expenditures in aircraft investments and is expecting to minimize aircraft sales for the rest of 2020.In order to counter the COVID-19 impact in the financial market, Air Lease has an impressive liquid position of $6.9 billion.LiquidityAir Lease, carrying a Zacks Rank #3 (Hold), exited the quarter with cash and cash equivalents of $926.4 million compared with $317.4 million at 2019 end. As of June end, the company had $14.6 billion of debt financing, net of discount and issuance costs compared with $13.6 billion as of Dec 31, 2019.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Air Lease’s board cleared a quarterly cash dividend of 15 cents per share (annualized 60 cents). The amount will be paid on Oct 9, 2020 to shareholders on record as on Sep 11.Sectorial SnapshotLet’s take a look into some other Zacks Transportation sector companies’ second-quarter results.Canadian National’s CNI second-quarter 2020 earnings (excluding 36 cents from non-recurring items) of 92 cents per share (C$0.77) were in line with the Zacks Consensus Estimate. However, the bottom line declined 28.7% year over year. Quarterly revenues of $2,315 million (C$3,209 million) missed the Zacks Consensus Estimate of $2,407.6 million and fell 21.8% year over year.J.B. Hunt Transport JBHT reported second-quarter 2020 earnings of $1.14 per share that surpassed the Zacks Consensus Estimate by 31 cents. Total revenues of $2,145.6 million beat the Zacks Consensus Estimate of $2,060.9 million.Kansas City Southern’s KSU second-quarter earnings (excluding a penny from non-recurring items) of $1.15 per share beat the Zacks Consensus Estimate of $1.12. Total revenues of $547.9 million lagged the consensus mark of $550.2 million.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >> 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 Canadian National Railway Company (CNI): Free Stock Analysis Report Kansas City Southern (KSU): Free Stock Analysis Report J.B. Hunt Transport Services, Inc. (JBHT): Free Stock Analysis Report Air Lease Corporation (AL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research