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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.
AerSale
AerSale
AerSale Revenue by Segment
Revenue by Segment
Asset Management Solutions Revenue
CapyFin.comTechOps Revenue
CapyFin.com 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.
- Net loss reported for the quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income