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Sep 30, 2022
AerSale Q3 2022 Earnings Report
Reports lower quarterly revenue and earnings due to timing of flight equipment sales.
Key Takeaways
AerSale Corporation reported a decrease in revenue for Q3 2022 to $51.0 million compared to $73.3 million in Q3 2021, with a GAAP net loss of $9.0 million versus a net loss of $1.6 million in the prior year period. The company reaffirmed its full-year guidance for revenue between $420 - $450 million and adjusted EBITDA between $80 - $90 million.
Third quarter revenue was $51.0 million, compared to $73.3 million in the prior year period.
Third-quarter GAAP net loss was $9.0 million versus GAAP net loss of $1.6 million in prior year period.
Adjusted Net Loss was $1.9 million in the third quarter, versus Adjusted Net Income of $9.2 million in prior year period.
Third quarter Adjusted EBITDA was $(0.5) million compared to Adjusted EBITDA of $13.9 million in the prior year period.
Forward Guidance
AerSale reaffirmed its guidance for revenue of $420 - $450 million and adjusted EBITDA of $80 - $90 million in 2022.
Positive Outlook
- Expectations of revenue in the range of $420 - $450 million
- Expectations of adjusted EBITDA in the range of $80 - $90 million
- Anticipated receipt from the FAA of an STC for our AerAware product and expectation of sales
- Expectations that the AerAware technology may prove to be mandatory equipment with airline partners
- Belief that our AerAware product will reduce costs and greenhouse gas emissions caused by flight delays and diversions caused by weather
Challenges Ahead
- Impact of the COVID-19 pandemic
- Factors adversely impacting the commercial aviation industry
- Events related to the war in Ukraine including economic and trade sanctions
- Fluctuating market value of our products
Historical Earnings Impact
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Avg. Return Before/After Earnings
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