AerSale Stock Gains As Revenue Tops Consensus, Backs FY21 Outlook

  • AerSale Corp ASLE reported second-quarter revenue growth of 102.7% year-over-year to $91.91 million, beating the consensus of $77.28 million.
  • Revenues included $42.7 million of flight equipment sales consisting of three aircraft, one airframe, and two engines. Asset Management Solutions revenue increased by 189%Y/Y due to flight equipment sales.
  • AerSale reported EPS of $0.38 for the quarter.
  • Gross profit was $30.74 million, compared to $(2.13) million a year ago. The margin recovered to 33.4%.
  • Adjusted EBITDA was $30.39 million, compared to $12.89 million in 2Q20, and margin expanded by 470 bps to 33.1%.
  • Income from operations was $22.17 million vs. a loss of $(9.8) million a year ago.
  • AerSale generated cash from operating activities year-to-date of $8.64 million, compared to $38.33 million a year ago.
  • Outlook: AerSale's 2021 guidance is unchanged at revenue of $340 million - $360 million (consensus $342.3 million) and adjusted EBITDA of $60 million - $70 million.
  • Price Action: ASLE shares traded higher by 3.96% at $11.58 on the last check Friday.
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