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Jun 30, 2024
AerSale Q2 2024 Earnings Report
AerSale's results improved over the prior year, driven by higher feedstock acquisitions, continued demand in MRO, and incremental volume of AerSafe™.
Key Takeaways
AerSale Corporation reported revenue of $77.1 million for the second quarter of 2024, compared to $69.3 million in the second quarter of 2023. The company reported a GAAP net loss of $3.6 million, compared to a GAAP net loss of $2.7 million in the prior year period. Adjusted EBITDA was $3.2 million versus $(0.5) million in the prior year period.
Revenue increased to $77.1 million versus $69.3 million in the prior year period.
GAAP net loss was $3.6 million versus $2.7 million in the prior year period.
Adjusted Net Loss of $2.6 million versus Adjusted Net Loss of $0.6 million in the prior year period.
Adjusted EBITDA increased to $3.2 million versus $(0.5) million in the prior year period.
Revenue by Segment
Forward Guidance
AerSale is focused on continued investment in feedstock, MRO capacity, and the advancement of its Engineered Solutions, particularly AerAware™.
Positive Outlook
- Continued investment in feedstock to enhance asset management capabilities.
- Expansion of MRO facilities and capabilities to drive future growth.
- Expected rise in sales from Miami component MROs before year-end.
- Strong liquidity position to enable acquisition of properly priced feedstock.
- Progress with prospective customers on AerAware™ EFVS.
Challenges Ahead
- Revenues are likely to fluctuate from quarter-to-quarter and year-to-year based on flight equipment sales.
- Gross margin was lower due to lower margins at component MROs.
- Cash used in operating activities was $36.8 million, mainly due to continued investment in inventory.
- Constrained supply side environment has resulted from reduced OEM deliveries.
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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