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Mar 31, 2024
AerSale Q1 2024 Earnings Report
AerSale's Q1 2024 financial performance was marked by increased revenue and net income compared to the prior-year period.
Key Takeaways
AerSale Corporation reported a strong start to 2024 with increased revenue, driven by flight equipment sales, USM sales, and robust MRO revenue. Net income also saw a significant rise compared to the first quarter of 2023.
Revenue increased to $90.5 million, up from $78.3 million in the prior year period.
GAAP net income was $6.3 million, a substantial increase from $5 thousand in the prior year period.
Asset Management Solutions revenue increased to $59.3 million, compared to $48.4 million in the prior year period.
TechOps revenue increased by 4.8% to $31.3 million, driven by strong demand for MRO services.
Revenue by Segment
Forward Guidance
AerSale anticipates continued strong commercial demand due to a favorable operating environment and is actively acquiring feedstock to support future sales. The company has acquired $30.6 million of feedstock year-to-date and has letters of intent on an additional $51.7 million of inventory expected during the year.
Positive Outlook
- Commercial demand is expected to remain strong.
- Company acquired $30.6 million of feedstock year-to-date.
- Letters of intent on an additional $51.7 million of inventory expected during the year.
- MRO facilities are benefiting from robust demand as airlines are operating at elevated capacity levels.
- Positioned in the market to drive returns from available aircraft due to purpose-built end-to-end solution.
Challenges Ahead
- Feedstock availability remains pressured due to OEM delivery issues.
- Cash used in operating activities was $21.5 million, mainly due to continued investment in inventory.
- Revenues are likely to fluctuate from quarter-to-quarter and year-to-year based on flight equipment sales.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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