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Dec 31, 2020
AerSale Q4 2020 Earnings Report
Reported results for the fourth quarter and full year ended December 31, 2020.
Key Takeaways
AerSale Corporation reported a fourth-quarter revenue of $49.4 million and a GAAP net income of $0.6 million. The revenue was adversely impacted by COVID-19, but this was partially offset by stronger aircraft storage volume and related aircraft maintenance work.
Fourth quarter revenue was $49.4 million, impacted by COVID-19 on commercial customers.
GAAP net income for the fourth quarter was $0.6 million.
TechOps revenue increased 41% due to increased storage demand from groundings.
Gross margin remained consistent with the fourth quarter of 2019 at 26.6%.
AerSale
AerSale
AerSale Revenue by Segment
Revenue by Segment
Asset Management Solutions Revenue
CapyFin.comTechOps Revenue
CapyFin.com Forward Guidance
AerSale expects revenue of $340–$360 million and adjusted EBITDA of $60-$70 million in 2021.
Positive Outlook
- Increase in activity in the Company’s AMS segment
- Strong demand for its on-airport MRO services
- Accelerating demand in cargo and E-Commerce markets
- Increased requests for passenger to freighter conversions and other TechOps products and services.
- Main growth driver of the Asset Management segment is expected to be the monetization of the Boeing 757 feedstock acquisition in 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income