AerSale Reports Third Quarter 2024 Results
AerSale (ASLE) reported Q3 2024 revenue of $82.7 million, down from $92.5 million in Q3 2023. The company posted a GAAP net income of $0.5 million compared to a net loss of $0.1 million in the prior year period. Flight equipment sales included five engines with no aircraft sales, versus seven engines and a Boeing 757 P2F conversion in Q3 2023. Excluding flight equipment sales, revenue grew 26% year-over-year to $60.1 million, driven by strong commercial demand and MRO activities. The company ended the quarter with $103.5 million in liquidity, including $9.8 million in cash.
AerSale (ASLE) ha riportato un fatturato nel terzo trimestre 2024 di 82,7 milioni di dollari, in calo rispetto ai 92,5 milioni di dollari del terzo trimestre 2023. L'azienda ha registrato un utile netto GAAP di 0,5 milioni di dollari rispetto a una perdita netta di 0,1 milioni di dollari nello stesso periodo dell'anno precedente. Le vendite di attrezzature di volo hanno incluso cinque motori senza vendite di aeromobili, contro sette motori e una conversione Boeing 757 P2F nel terzo trimestre 2023. Escludendo le vendite di attrezzature di volo, il fatturato è cresciuto del 26% su base annua, raggiungendo i 60,1 milioni di dollari, sostenuto da una forte domanda commerciale e da attività di MRO. L'azienda ha chiuso il trimestre con 103,5 milioni di dollari di liquidità, di cui 9,8 milioni in contante.
AerSale (ASLE) reportó ingresos en el tercer trimestre de 2024 de 82,7 millones de dólares, disminuyendo desde los 92,5 millones de dólares en el tercer trimestre de 2023. La compañía presentó un ingreso neto GAAP de 0,5 millones de dólares en comparación con una pérdida neta de 0,1 millones de dólares en el mismo período del año anterior. Las ventas de equipos de vuelo incluyeron cinco motores sin ventas de aeronaves, frente a siete motores y una conversión Boeing 757 P2F en el tercer trimestre de 2023. Excluyendo las ventas de equipos de vuelo, los ingresos crecieron un 26% interanual, alcanzando los 60,1 millones de dólares, impulsados por una fuerte demanda comercial y actividades de MRO. La compañía finalizó el trimestre con 103,5 millones de dólares en liquidez, incluidos 9,8 millones en efectivo.
AerSale (ASLE)는 2024년 3분기 수익이 8,270만 달러로, 2023년 3분기의 9,250만 달러에서 감소했다고 보고했습니다. 회사는 GAAP 기준 순이익 50만 달러를 기록했으며, 이전 연도 같은 기간의 순손실 10만 달러와 비교되었습니다. 비행 장비 판매에는 항공기 판매 없이 5개의 엔진이 포함되었으며, 2023년 3분기에는 7개의 엔진과 보잉 757 P2F 전환이 포함되었습니다. 비행 장비 판매를 제외하면, 수익은 전년 대비 26% 증가하여 6,010만 달러에 도달했으며, 이는 강력한 상업적 수요와 MRO 활동에 의해 주도되었습니다. 이 회사는 분기를 마감하며 1억 3,500만 달러의 유동성을 보유하고 있으며, 이 중 980만 달러가 현금입니다.
AerSale (ASLE) a annoncé un chiffre d'affaires au troisième trimestre 2024 de 82,7 millions de dollars, en baisse par rapport à 92,5 millions de dollars au troisième trimestre 2023. La société a affiché un résultat net GAAP de 0,5 million de dollars par rapport à une perte nette de 0,1 million de dollars pour la même période de l'année précédente. Les ventes d'équipements de vol comprenaient cinq moteurs sans ventes d'avions, contre sept moteurs et une conversion Boeing 757 P2F au troisième trimestre 2023. En excluant les ventes d'équipements de vol, le chiffre d'affaires a augmenté de 26 % en glissement annuel pour atteindre 60,1 millions de dollars, soutenu par une forte demande commerciale et des activités MRO. La société a terminé le trimestre avec 103,5 millions de dollars de liquidités, dont 9,8 millions de dollars en espèces.
AerSale (ASLE) meldete im dritten Quartal 2024 einen Umsatz von 82,7 Millionen Dollar, ein Rückgang von 92,5 Millionen Dollar im dritten Quartal 2023. Das Unternehmen verzeichnete einen GAAP-Nettoeinkommen von 0,5 Millionen Dollar im Vergleich zu einem Nettoverlust von 0,1 Millionen Dollar im Vorjahreszeitraum. Der Verkauf von Fluggeräten umfasste fünf Motoren ohne Flugzeugverkäufe, im Gegensatz zu sieben Motoren und einer Boeing 757 P2F-Umrüstung im dritten Quartal 2023. Ohne Berücksichtigung der Verkäufe von Fluggeräten stieg der Umsatz im Jahresvergleich um 26% auf 60,1 Millionen Dollar, angetrieben durch eine starke Nachfrage im kommerziellen Bereich und MRO-Aktivitäten. Das Unternehmen schloss das Quartal mit 103,5 Millionen Dollar an Liquidität, einschließlich 9,8 Millionen Dollar in bar.
- Base business revenue grew 26% year-over-year excluding whole asset sales
- Adjusted EBITDA increased to $8.2 million from $1.9 million in Q3 2023
- Gross margin improved to 28.6% from 25.4% year-over-year
- TechOps revenue increased 17.6% to $32.3 million
- Overall revenue declined 10.6% to $82.7 million from $92.5 million
- Cash used in operating activities was $26.4 million year-to-date
- Asset Management revenue decreased to $50.4 million from $65.1 million
- Weaker demand observed at Goodyear facility MRO services
Insights
AerSale's Q3 2024 results show mixed performance with some concerning trends. Revenue declined
Key concerns include declining cash position to
While base business growth is encouraging, execution on inventory monetization and 757 conversion program will be important for future performance. The company's high inventory levels and debt usage create near-term pressure to generate cash flow.
Third Quarter 2024 Highlights
-
Revenue of
$82.7 million $92.5 million -
GAAP net income of
$0.5 million $0.1 million -
Adjusted Net Income of
$1.8 million $0.9 million -
Adjusted EBITDA1 of
$8.2 million $1.9 million - Flight equipment sales consisted of five engines and no aircraft compared to seven engines and a passenger-to-freighter (P2F”) converted Boeing 757 aircraft in the prior year period.
-
Feedstock acquisitions of
$42 million $45 million -
Flight Equipment inventory of
$413.6 million
Nick Finazzo, AerSale’s Chief Executive Officer, commented, “Our base business continued to grow in the third quarter and was up
As we look to the balance of the year and into 2025, we are positioned for significant cash generation as we focus on monetizing feedstock and our 757 conversion program, along with driving incremental revenue through our MRO facilities as our expansion projects come on line.”
Asset Management Solutions (“Asset Management") revenue decreased to
TechOps revenue increased
Gross margin was
Selling, general, and administrative expenses were
Income from operations was
Income tax expense was
GAAP net income for the third quarter of 2024 was
Diluted earnings per share was
Adjusted EBITDA in the third quarter of 2024 was
AerSale ended the quarter with
Conference Call Information
The Company will host a conference call today, November 7, 2024, at 4:30 pm Eastern Time to discuss these results. A live webcast will also be available at https://ir.aersale.com/news-events/events. Participants may access the call at 1-800-225-9448, international callers may use 1-203-518-9708, and request to join the AerSale Corporation earnings call.
A telephonic replay will be available shortly after the conclusion of the call and until February 7, 2025. Participants may access the replay at 1-844-512-2921, international callers may use 1-412-317-6671, and enter access code 11157096. An archived replay of the call will also be available on the Investors portion of the AerSale website at https://ir.aersale.com/.
Non-GAAP Financial Measures
This press release includes non-GAAP financial measures, including adjusted EBITDA, adjusted Net Income, and adjusted diluted Earnings per Share. AerSale defines adjusted EBITDA as net income (loss) after giving effect to interest expense, depreciation and amortization, income tax expense (benefit), and other non-recurring or unusual items. Adjusted Net Income is defined as net income (loss) after giving effect to mark-to-market adjustments relating to our Private Warrants, share-based compensation expense and other non-recurring or unusual items as well as the tax effect of such items. Adjusted diluted earnings per share also exclude these material non-recurring or unusual items.
AerSale believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to AerSale’s financial condition and results of operations. AerSale’s management uses certain of these non-GAAP measures to compare AerSale’s performance to that of prior periods for trend analyses and for budgeting and planning purposes. These non- GAAP measures should not be construed as an alternative to net income or net income margin as an indicator of operating performance or as an alternative to cash flow provided by operating activities as a measure of liquidity (each as determined in accordance with GAAP).
You should review AerSale’s audited financial statements, and not rely on any single financial measure to evaluate AerSale’s business. Other companies may calculate adjusted EBITDA, adjusted Net Income, or Adjusted diluted earnings per share differently, and therefore AerSale’s adjusted EBITDA, adjusted Net Income, or adjusted diluted earnings per share measures may not be directly comparable to similarly titled measures of other companies.
Reconciliations of Net Income, the Company’s closest GAAP measure, to adjusted EBITDA, adjusted Net Income, and adjusted diluted earnings per share, are outlined in the tables below following the Company’s condensed consolidated financial statements.
Third Quarter 2024 Financial Results
AERSALE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (Unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Products |
|
$ |
47,719 |
|
|
$ |
66,842 |
|
|
$ |
152,627 |
|
|
$ |
149,960 |
|
Leasing |
|
|
6,900 |
|
|
|
2,488 |
|
|
|
14,268 |
|
|
|
11,396 |
|
Services |
|
|
28,065 |
|
|
|
23,154 |
|
|
|
83,430 |
|
|
|
78,725 |
|
Total revenue |
|
|
82,684 |
|
|
|
92,484 |
|
|
|
250,325 |
|
|
|
240,081 |
|
Cost of sales and operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Cost of products |
|
|
31,680 |
|
|
|
48,697 |
|
|
|
99,830 |
|
|
|
107,176 |
|
Cost of leasing |
|
|
2,424 |
|
|
|
1,051 |
|
|
|
5,511 |
|
|
|
3,253 |
|
Cost of services |
|
|
24,905 |
|
|
|
19,262 |
|
|
|
70,793 |
|
|
|
61,647 |
|
Total cost of sales |
|
|
59,009 |
|
|
|
69,010 |
|
|
|
176,134 |
|
|
|
172,076 |
|
Gross profit |
|
|
23,675 |
|
|
|
23,474 |
|
|
|
74,191 |
|
|
|
68,005 |
|
Selling, general, and administrative expenses |
|
|
21,679 |
|
|
|
25,403 |
|
|
|
69,384 |
|
|
|
77,724 |
|
Income (loss) from operations |
|
|
1,996 |
|
|
|
(1,929 |
) |
|
|
4,807 |
|
|
|
(9,719 |
) |
Other (expenses) income: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest (expense) income, net |
|
|
(1,768 |
) |
|
|
(250 |
) |
|
|
(4,231 |
) |
|
|
1,178 |
|
Other income, net |
|
|
128 |
|
|
|
127 |
|
|
|
399 |
|
|
|
498 |
|
Change in fair value of warrant liability |
|
|
231 |
|
|
|
(55 |
) |
|
|
2,348 |
|
|
|
1,004 |
|
Total other (expenses) income |
|
|
(1,409 |
) |
|
|
(178 |
) |
|
|
(1,484 |
) |
|
|
2,680 |
|
Income (loss) before income tax provision |
|
|
587 |
|
|
|
(2,107 |
) |
|
|
3,323 |
|
|
|
(7,039 |
) |
Income tax (expense) benefit |
|
|
(78 |
) |
|
|
1,959 |
|
|
|
(174 |
) |
|
|
4,208 |
|
Net income (loss) |
|
$ |
509 |
|
|
$ |
(148 |
) |
|
$ |
3,149 |
|
|
$ |
(2,831 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
$ |
0.01 |
|
|
$ |
(0.00 |
) |
|
$ |
0.06 |
|
|
$ |
(0.06 |
) |
Diluted |
|
$ |
0.01 |
|
|
$ |
(0.00 |
) |
|
$ |
0.06 |
|
|
$ |
(0.07 |
) |
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic |
|
|
53,208,538 |
|
|
|
51,321,026 |
|
|
|
53,076,733 |
|
|
|
51,252,581 |
|
Diluted |
|
|
53,385,111 |
|
|
|
51,321,026 |
|
|
|
53,272,973 |
|
|
|
51,430,205 |
|
AERSALE CORPORATION CONDENSED CONSOLIDATED BALANCE SHEET (in thousands, except share data) (Unaudited) |
||||||
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
||
|
|
2024 |
|
2023 |
||
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
9,787 |
|
$ |
5,873 |
Accounts receivable, net of allowance for credit losses of |
|
|
33,745 |
|
|
31,239 |
Income tax receivable |
|
|
2,039 |
|
|
1,628 |
Inventory: |
|
|
|
|
|
|
Aircraft, airframes, engines, and parts, net |
|
|
263,728 |
|
|
177,770 |
Advance vendor payments |
|
|
12,257 |
|
|
35,757 |
Deposits, prepaid expenses, and other current assets |
|
|
18,180 |
|
|
12,507 |
Total current assets |
|
|
339,736 |
|
|
264,774 |
Fixed assets: |
|
|
|
|
|
|
Aircraft and engines held for lease, net |
|
|
40,163 |
|
|
26,475 |
Property and equipment, net |
|
|
32,710 |
|
|
27,692 |
Inventory: |
|
|
|
|
|
|
Aircraft, airframes, engines, and parts, net |
|
|
109,706 |
|
|
151,398 |
Operating lease right-of-use assets |
|
|
24,796 |
|
|
27,519 |
Deferred income taxes |
|
|
11,736 |
|
|
12,203 |
Deferred financing costs, net |
|
|
1,259 |
|
|
1,506 |
Other assets |
|
|
525 |
|
|
525 |
Goodwill |
|
|
19,860 |
|
|
19,860 |
Other intangible assets, net |
|
|
20,965 |
|
|
21,986 |
Total assets |
|
$ |
601,456 |
|
$ |
553,938 |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Accounts payable |
|
$ |
34,870 |
|
$ |
29,899 |
Accrued expenses |
|
|
6,221 |
|
|
5,478 |
Lessee and customer purchase deposits |
|
|
914 |
|
|
1,467 |
Current operating lease liabilities |
|
|
4,062 |
|
|
4,593 |
Current portion of long-term debt |
|
|
193 |
|
|
1,278 |
Deferred revenue |
|
|
854 |
|
|
2,998 |
Total current liabilities |
|
|
47,114 |
|
|
45,713 |
Revolving credit facility |
|
|
78,513 |
|
|
29,000 |
Long-term debt |
|
|
376 |
|
|
7,281 |
Long-term lease deposits |
|
|
1,537 |
|
|
102 |
Long-term operating lease liabilities |
|
|
22,297 |
|
|
24,377 |
Maintenance deposit payments and other liabilities |
|
|
57 |
|
|
64 |
Warrant liability |
|
|
38 |
|
|
2,386 |
Total liabilities |
|
|
149,932 |
|
|
108,923 |
Stockholders’ equity: |
|
|
|
|
|
|
Common stock, |
|
|
5 |
|
|
5 |
Additional paid-in capital |
|
|
315,099 |
|
|
311,739 |
Retained earnings |
|
|
136,420 |
|
|
133,271 |
Total stockholders' equity |
|
|
451,524 |
|
|
445,015 |
Total liabilities and stockholders’ equity |
|
$ |
601,456 |
|
$ |
553,938 |
AERSALE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (Unaudited) |
||||||||
|
|
|
|
|
|
|
||
|
|
Nine Months Ended September 30, |
||||||
|
|
2024 |
|
|
2023 |
|
||
Cash flows from operating activities: |
|
|
|
|
|
|
||
Net income (loss) |
|
$ |
3,149 |
|
|
$ |
(2,831 |
) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: |
|
|
|
|
|
|
||
Depreciation and amortization |
|
|
10,945 |
|
|
|
7,585 |
|
Amortization of debt issuance costs |
|
|
248 |
|
|
|
316 |
|
Amortization of operating lease assets |
|
|
111 |
|
|
|
286 |
|
Inventory reserve |
|
|
1,809 |
|
|
|
1,255 |
|
Provision for doubtful accounts |
|
|
195 |
|
|
|
- |
|
Deferred income taxes |
|
|
467 |
|
|
|
(2,331 |
) |
Change in fair value of warrant liability |
|
|
(2,348 |
) |
|
|
(1,004 |
) |
Share-based compensation |
|
|
3,159 |
|
|
|
8,939 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
||
Deferred financing costs |
|
|
- |
|
|
|
(1,361 |
) |
Accounts receivable |
|
|
(2,700 |
) |
|
|
(1,447 |
) |
Income tax receivable |
|
|
(411 |
) |
|
|
(1,313 |
) |
Inventory |
|
|
(62,587 |
) |
|
|
(168,313 |
) |
Deposits, prepaid expenses, and other current assets |
|
|
(5,673 |
) |
|
|
(2,313 |
) |
Other assets |
|
|
(575 |
) |
|
|
93 |
|
Advance vendor payments |
|
|
23,500 |
|
|
|
(8,212 |
) |
Accounts payable |
|
|
4,973 |
|
|
|
17,824 |
|
Accrued expenses |
|
|
657 |
|
|
|
(5,015 |
) |
Deferred revenue |
|
|
(2,144 |
) |
|
|
1,038 |
|
Lessee and customer purchase deposits |
|
|
882 |
|
|
|
(10,641 |
) |
Other liabilities |
|
|
(11 |
) |
|
|
(606 |
) |
Net cash used in operating activities |
|
|
(26,354 |
) |
|
|
(168,051 |
) |
Cash flows from investing activities: |
|
|
|
|
|
|
||
Proceeds from sale of assets |
|
|
3,800 |
|
|
|
14,450 |
|
Acquisition of aircraft and engines held for lease, including capitalized cost |
|
|
(6,488 |
) |
|
|
- |
|
Purchase of property and equipment |
|
|
(8,768 |
) |
|
|
(7,766 |
) |
Net cash (used in) provided by investing activities |
|
|
(11,456 |
) |
|
|
6,684 |
|
Cash flows from financing activities: |
|
|
|
|
|
|
||
Proceeds from long-term debt |
|
|
615 |
|
|
|
8,559 |
|
Repayments of long-term debt |
|
|
(8,605 |
) |
|
|
- |
|
Proceeds from revolving credit facility |
|
|
132,294 |
|
|
|
26,100 |
|
Repayments of revolving credit facility |
|
|
(82,781 |
) |
|
|
(17,500 |
) |
Taxes paid related to net share settlement of equity awards |
|
|
(124 |
) |
|
|
(104 |
) |
Proceeds from the issuance of Employee Stock Purchase Plan shares |
|
|
325 |
|
|
|
278 |
|
Net cash provided by financing activities |
|
|
41,724 |
|
|
|
17,333 |
|
|
|
|
|
|
|
|
||
Increase (decrease) in cash and cash equivalents |
|
|
3,914 |
|
|
|
(144,034 |
) |
Cash and cash equivalents, beginning of period |
|
|
5,873 |
|
|
|
147,188 |
|
Cash and cash equivalents, end of period |
|
$ |
9,787 |
|
|
$ |
3,154 |
|
|
|
|
|
|
|
|
||
Supplemental disclosure of cash activities |
|
|
|
|
|
|
||
Income tax payments, net |
|
$ |
(20 |
) |
|
$ |
1,306 |
|
Interest paid |
|
$ |
4,173 |
|
|
$ |
575 |
|
Supplemental disclosure of noncash investing activities |
|
|
|
|
|
|
||
Reclassification of aircraft and aircraft engines inventory to (from) aircraft and engine held for lease, net |
|
$ |
12,711 |
|
|
$ |
9,312 |
|
Adjusted EBITDA, Net Income and Diluted EPS Reconciliation Table (In thousands, except per share data) (Unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, |
|
Nine months ended September 30, |
||||||||||||
|
|
|
|
% of Total |
|
|
|
% of Total |
|
|
|
% of Total |
|
|
|
% of Total |
|
|
2024 |
|
Revenue |
|
2023 |
|
Revenue |
|
2024 |
|
Revenue |
|
2023 |
|
Revenue |
Reported Net Income (Loss) |
|
|
|
|
|
|
|
(0.2)% |
|
|
|
|
|
|
|
(1.2)% |
Addbacks: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in FV of Warrant Liability |
|
(231) |
|
(0.3)% |
|
55 |
|
|
|
(2,348) |
|
(0.9)% |
|
(1,004) |
|
(0.4)% |
Stock Compensation |
|
1,216 |
|
|
|
3,180 |
|
|
|
3,159 |
|
|
|
8,939 |
|
|
Payroll taxes related to stock-based compensation |
|
66 |
|
|
|
- |
|
|
|
102 |
|
|
|
- |
|
|
Inventory Write-Off |
|
- |
|
|
|
(2,670) |
|
(2.9)% |
|
(237) |
|
(0.1)% |
|
(2,670) |
|
(1.1)% |
Secondary Offering Costs |
|
- |
|
|
|
315 |
|
|
|
55 |
|
|
|
624 |
|
|
Facility Relocation Costs |
|
332 |
|
|
|
327 |
|
|
|
1,156 |
|
|
|
1,049 |
|
|
Income Tax Effect of Adjusting Items (1) |
|
(80) |
|
(0.1)% |
|
(174) |
|
(0.2)% |
|
(291) |
|
(0.1)% |
|
(670) |
|
(0.3)% |
Adjusted Net Income |
|
1,812 |
|
|
|
885 |
|
|
|
4,745 |
|
|
|
3,437 |
|
|
Interest Expense |
|
1,768 |
|
|
|
250 |
|
|
|
4,231 |
|
|
|
(1,178) |
|
(0.5)% |
Income Tax Expense (Benefit) |
|
78 |
|
|
|
(1,959) |
|
(2.1)% |
|
174 |
|
|
|
(4,208) |
|
(1.8)% |
Depreciation and Amortization |
|
4,511 |
|
|
|
2,516 |
|
|
|
10,945 |
|
|
|
7,585 |
|
|
Reversal of Income Tax Effect of Adjusting Items (1) |
|
80 |
|
|
|
174 |
|
|
|
291 |
|
|
|
670 |
|
|
Adjusted EBITDA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported Basic earnings (loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Addbacks: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in fair value of warrant liability |
|
(0.00) |
|
|
|
0.00 |
|
|
|
(0.04) |
|
|
|
(0.02) |
|
|
Stock-based compensation |
|
0.02 |
|
|
|
0.06 |
|
|
|
0.06 |
|
|
|
0.17 |
|
|
| Payroll taxes related to stock-based compensation | 0.00 |
- |
0.00 |
- |
||||||||||||
Inventory Write-Off |
|
- |
|
|
|
(0.05) |
|
|
|
(0.00) |
|
|
|
(0.05) |
|
|
Secondary Offering Costs |
|
- |
|
|
|
0.01 |
|
|
|
0.00 |
|
|
|
0.01 |
|
|
Facility Relocation Costs |
|
0.01 |
|
|
|
0.01 |
|
|
|
0.02 |
|
|
|
0.02 |
|
|
Income Tax Effect of Adjusting Items |
|
- |
|
|
|
(0.00) |
|
|
|
(0.01) |
|
|
|
(0.01) |
|
|
Adjusted Basic earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported Diluted earnings (loss) per share |
|
0.01 |
|
|
|
(0.00) |
|
|
|
0.06 |
|
|
|
(0.07) |
|
|
Addbacks: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in FV of warrant liability |
|
(0.00) |
|
|
|
0.00 |
|
|
|
(0.04) |
|
|
|
(0.02) |
|
|
Stock-based compensation |
|
0.02 |
|
|
|
0.06 |
|
|
|
0.06 |
|
|
|
0.17 |
|
|
| Payroll taxes related to stock-based compensation | 0.00 |
|
|
|
- |
|
|
|
0.00 |
|
|
|
- |
|||
Inventory Write-Off |
|
- |
|
|
|
(0.05) |
|
|
|
(0.00) |
|
|
|
(0.05) |
|
|
Secondary Offering Costs |
|
- |
|
|
|
0.01 |
|
|
|
0.00 |
|
|
|
0.01 |
|
|
Facility Relocation Costs |
|
0.01 |
|
|
|
0.01 |
|
|
|
0.02 |
|
|
|
0.02 |
|
|
Income Tax Effect of Adjusting Items |
|
(0.00) |
|
|
|
- |
|
|
|
(0.01) |
|
|
|
(0.01) |
|
|
Adjusted Diluted earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) The income tax effect of current period adjusting items is calculated at the Company's applicable statutory rate of |
||||||||||||||||
Forward Looking Statements
This press release includes “forward-looking statements”. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this press release may constitute forward-looking statements, and include, but are not limited to, statements regarding our anticipated financial performance, including anticipations regarding greater demand for AerSale’s USM business; expectations regarding feedstock and commercial demand; expectations from letters of intent on an additional
Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements and we qualify all of our forward-looking statements by these cautionary statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
About AerSale
AerSale serves airlines operating large jets manufactured by Boeing, Airbus and McDonnell Douglas and is dedicated to providing integrated aftermarket services and products designed to help aircraft owners and operators to realize significant savings in the operation, maintenance and monetization of their aircraft, engines, and components. AerSale’s offerings include: Aircraft & Component MRO, Aircraft and Engine Sales and Leasing, Used Serviceable Material sales, and internally developed ‘Engineered Solutions’ to enhance aircraft performance and operating economics (e.g. AerSafe™, AerTrak™, and now AerAware™).
View source version on businesswire.com: https://www.businesswire.com/news/home/20241107766769/en/
Media Contacts:
For more information about AerSale, please visit our website: www.AerSale.com.
Follow us on: LinkedIn | Twitter | Facebook | Instagram
AerSale: Jackie Carlon
Telephone: (305) 764-3200
Email: media.relations@aersale.com
Investor Contact:
AerSale: AersaleIR@icrinc.com
Source: AerSale Corporation
FAQ
What was AerSale's (ASLE) revenue in Q3 2024?
How many engines did AerSale (ASLE) sell in Q3 2024?
What was AerSale's (ASLE) adjusted EBITDA in Q3 2024?
What was AerSale's (ASLE) gross margin in Q3 2024?
