NASDAQ$ASLE
AerSale Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
AerSale's Q2 2023 results were reported, revealing a decrease in revenue and a net loss compared to the prior-year period, primarily due to the pacing of flight equipment sales and soft demand in the freight market.
AerSale reported a decrease in revenue to $69.3 million compared to $139.6 million in the prior year period. GAAP net loss was $2.7 million, a significant shift from the $26.5 million net income in the prior year period. The company updated its 2023 guidance, expecting revenue in the range of $400 - $440 million and adjusted EBITDA in the range of $40 - $55 million.
- Revenue decreased to $69.3 million from $139.6 million in the prior year period.
- GAAP net loss was $2.7 million, compared to a net income of $26.5 million in the prior year period.
- Adjusted Net Loss was $0.6 million versus Adjusted Net Income of $31.7 million in the prior year period.
- Company expects revenue in the range of $400 - $440 million and adjusted EBITDA in the range of $40 - $55 million for 2023.
Headline financials
Revenue & EPS history
AerSale · Revenue · Quarterly
$69.3M
Revenue by segment
AerSale · $49.4M total across 2 segments · Q4 2020
- Technical Operations$32M—64.8%
- Asset Management Solutions$17.4M-82.3%35.2%
Forward guidance
AerSale now expects to generate revenue of $400 - $440 million and adjusted EBITDA of $40 - $55 million in 2023.
Tailwinds
- Robust feedstock already purchased or in the pipeline exceeding $200 million year-to-date
- Monetization of post-conversion 757s
- FAA Supplemental Type Certification (“STC”) of AerAware, our Enhanced Flight Vision System for the Boeing 737NG series of aircraft
- Strong commercial demand.
- Core business has continued to grow with greater demand for used serviceable material (“USM”) and MRO offerings.
Headwinds
- Reducing full-year expectations for our 757 program
- Freight market has softened in response to higher interest rates and tightening economic conditions, which have eased demand for consumer products
- Adds some uncertainty to the timing and type of monetization of these assets
- Second quarter volume was meaningfully lower than the second quarter of 2022
- Decline in adjusted EBITDA is largely attributable to lower flight equipment sales, and no aircraft sales during the period.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-4.0%
Avg return
Earnings day
-3.0%
Avg return
5 days after
-2.1%
Avg return
30 days after
43%
12 / 28 earnings
Positive
+16.5%
Q4 2024
Best reaction
-24.5%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -10.9% | -12.0% | -13.5% | |
| Q4 2025 | -11.7% | -12.0% | -15.7% | |
| Q3 2025 | -11.9% | -14.4% | -5.2% | |
| Q1 2025 | -12.7% | -13.4% | -17.2% | |
| Q4 2024 | +16.5% | +15.6% | -4.0% | |
| Q3 2024 | -7.7% | -5.4% | +4.0% | |
| Q2 2024 | -9.7% | -12.5% | -14.9% | |
| Q1 2024 | +10.0% | +4.7% | -6.4% | |
| Q4 2023 | -24.0% | -22.0% | -23.0% | |
| Q3 2023 | -13.1% | -12.4% | -3.4% | |
| Q2 2023 | -24.5% | -24.1% | +7.7% | |
| Q1 2023 | -4.0% | -4.4% | -7.4% | |
| Q4 2022 | -15.1% | -19.7% | -19.2% | |
| Q3 2022 | -7.3% | -4.8% | -15.0% | |
| Q2 2022 | +11.2% | +13.0% | +18.9% | |
| Q1 2022 | -2.0% | -1.4% | +4.6% | |
| Q4 2021 | +2.5% | +11.0% | +6.2% | |
| Q3 2021 | -19.2% | -17.6% | -16.8% | |
| Q2 2021 | +4.1% | +18.8% | +22.7% | |
| Q1 2021 | -2.0% | -3.5% | -2.3% | |
| Q4 2020 | +16.3% | +25.5% | +25.4% | |
| Q3 2020 | +2.1% | +8.2% | +17.9% | |
| Q2 2020 | +0.7% | -0.3% | -0.6% | |
| Q1 2020 | +0.0% | +0.0% | +1.4% | |
| Q4 2019 | +0.2% | +0.0% | -1.0% | |
| Q4 2018 | +0.2% | +0.0% | -1.0% | |
| Q2 2019 | -0.7% | -1.0% | -1.4% | |
| Q1 2019 | +0.0% | +0.2% | +0.3% |
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