AerSale Q3 revenue rises on leasing and MRO growth
ASLE•AerSale's third-quarter revenue rose year over year to $91.6 million, driven by leasing, USM and MRO growth, while the company posted a $15 million net loss. It expects a significantly stronger fourth quarter, driven by Flight Equipment sales and leasing.
1. Revenue and loss
AerSale reported third-quarter revenue of $91.6 million, compared with analyst consensus of $91.22 million. Adjusted EPS was a loss of $0.02, below the $0.11 consensus, and net loss was $15 million.
2. Drivers and outlook
Revenue growth was driven by leasing, USM sales, heavy MRO, demand for AerSafe and higher Flight Equipment sales. AerSale expects a significantly stronger fourth quarter, with adjusted EBITDA expected to improve as ramp-up costs for new programs decline. It also expects leasing margins to improve as B757 utilization and engine leases increase.
