AERSALE CORPORATION Reports Second Quarter FY2023 Earnings with 50.3% Decrease in Revenue
August 23, 2023
🌥️Earnings Overview
AERSALE CORPORATION ($NASDAQ:ASLE) reported its second-quarter FY2023 earnings (ending June 30 2023) on August 8 2023, which showed a total revenue of USD 69.3 million; a 50.3% decrease compared to the same quarter of the prior year. Net income was reported at USD -2.7 million, versus USD 26.5 million in the same quarter of the previous year.
Analysis
Analyzing the investing fundamentals of AERSALE CORPORATION, GoodWhale can provide a comprehensive analysis of the company’s financial and business aspects. After assessing the company, GoodWhale’s Risk Rating places AERSALE CORPORATION in the medium risk investment category. GoodWhale has also identified two risk warnings in the balance sheet and cashflow statement of AERSALE CORPORATION. To access these warnings, you must register with us. Once registered, you will be able to thoroughly examine the company’s financials and determine if it is the right fit for your portfolio. By combining our Risk Rating and risk warnings, GoodWhale provides an insightful and comprehensive analysis of your potential investment. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Aersale Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 293.73 | -2.5 | -0.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Aersale Corporation. More…
| Operations | Investing | Financing |
| -170.51 | 23.75 | -15.84 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Aersale Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 549.94 | 101.67 | 8.75 |
Key Ratios Snapshot
Some of the financial key ratios for Aersale Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.3% | 29.7% | -2.7% |
| FCF Margin | ROE | ROA |
| -61.5% | -1.1% | -0.9% |
Peers
The company has a strong presence in the aviation industry and is known for its quality products and services. AerSale Corp is a major player in the aviation market and competes with other leading companies such as Macquarie Infrastructure Holdings LLC, Evergreen Aviation Technologies Corp, and Chorus Aviation Inc.
– Macquarie Infrastructure Holdings LLC ($TPEX:2645)
Evergreen Aviation Technologies Corp is one of the world’s leading aerospace companies. They design, develop, manufacture, and support a wide range of products for both commercial and military aviation. Evergreen’s products include jet engines, helicopters, and fixed-wing aircraft. The company has a market cap of 27.59B as of 2022 and a return on equity of 13.35%. Evergreen is a publicly traded company on the New York Stock Exchange (NYSE: EVG).
– Evergreen Aviation Technologies Corp ($TSX:CHR)
Chorus Aviation Inc is a leading provider of regional aviation services. The company has a market cap of 613.21M as of 2022 and a return on equity of 6.88%. Chorus Aviation operates a fleet of over 100 aircraft and provides scheduled passenger, cargo, and charter services to over 60 destinations across Canada, the United States, and the Caribbean.
Summary
Aersale Corporation reported significantly lower results for the second quarter of FY2023, compared to the same quarter in the prior year. Total revenue was USD 69.3 million, a decrease of 50.3%, while net income was USD -2.7 million, compared to USD 26.5 million in the same quarter of the prior year. This could be an indication of an unfavorable investment climate for Aersale Corporation. Investors should carefully monitor the company’s performance in the near future to assess whether this is a short-term issue or a more prolonged trend.
Additionally, further financial analysis should be conducted to understand the root cause of the earnings decline and whether it could be addressed.
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