|Over a month ago|
AerSale initiated with a Buy at Stifel » 05:2809/0109/01/22
Stifel analyst Bert Subin…
Stifel analyst Bert Subin initiated coverage of AerSale with a Buy rating and $23 price target. AerSale is a leading provider of aviation services, used serviceable material sales and short term leases/whole asset sales, Subin tells investors in a research note. In addition, the company has developed a suite of technology solutions designed to enhance aviation safety, says the analyst. He believes that as passenger air travel demand returns to or above pre-pandemic levels and cargo trends continue to improve, the runway for AerSale is favorable. Subin also thinks AerAware has "significant growth potential."
AerSale 4.25M share Spot Secondary priced at $17.25 » 20:2208/1608/16/22
The deal priced below…
The deal priced below last closing price of $19.83. Cowen, RBC Capital and Stifel are acting as joint book running managers for the offering.
Fly Intel: After-Hours Movers » 18:3408/1608/16/22
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AerSale files to sell 4.25M shares of stock for holders » 16:0108/1608/16/22
AerSale announced that…
AerSale announced that certain of its stockholders, including affiliates of Leonard Green & Partners, L.P. intend to offer for sale in an underwritten secondary offering 4,250,000 shares of common stock. Cowen, RBC Capital Markets, and Stifel are acting as joint book-running managers and representatives of the underwriters for the proposed offering. Truist Securities is also acting as joint book-running manager for the proposed offering.
AerSale backs FY22 revenue view of $420M-$450M, consensus $435.9M » 16:4608/0808/08/22
Backs FY22 adjusted…
Backs FY22 adjusted EBITDA of $80M - $90M.
AerSale reports Q2 adjusted EPS 47c vs. 38c last year » 16:4508/0808/08/22
Reports Q2 revenue…
Reports Q2 revenue $139.6M vs. $91.9M last year. Nicolas Finazzo, CEO, commented, "I am pleased to report that we set another record for the Company in the second quarter, with sales growth of over 50% and adjusted EBITDA growth over 35%. This is a remarkable result that is attributable to the dedication of all our team members to execute efficiently on our 757 P2F conversion program, which has driven results since the program inception, combined with a strengthening commercial backdrop boosting higher sales of Used Serviceable Material. We reached an important milestone in our AerAware program, with the completion of software validation by our partner, Elbit Systems subsidiary, Universal Avionics. Software development to optimize it for the 737 platform represents more than two years of work by our collective team. We have also completed a third set of demonstration flights to the FAA, in anticipation of performing our final FAA certification flights to obtain the AerAware STC in the coming months. With the introduction of AerAware to commercial airlines we expect the market to eagerly adopt this technology, particularly as it stands to significantly increase operational safety, efficiency, and on-time performance during limited visibility conditions, while minimizing flight delays, diversions, fuel burn and carbon emissions."
|Over a quarter ago|
AerSale backs FY22 revenue view $420M-$450M, adjusted EBITDA $80M-$90M » 16:1405/0905/09/22
AerSale reaffirmed its…
AerSale reaffirmed its guidance for revenue of $420 - $450 million and adjusted EBITDA of $80 - $90 million in 2022. In providing this guidance, the Company is mindful that recent geopolitical events related to the Russian invasion of Ukraine may impact the global commercial aerospace industry, but has not specifically adjusted for these factors beyond known impacts that the Company has already identified.
AerSale reports Q1 adjusted EPS 32c vs. 23c last year » 16:1405/0905/09/22
Reports Q1 revenue…
Reports Q1 revenue $122.8M vs. $58.4M last year.
AerSale sees FY22 revenue $420M-$450M, one estimate $377.6M » 16:1603/1403/14/22
Sees FY22 adjusted EBITDA…
Sees FY22 adjusted EBITDA $80M-$90M vs. $89.3M in FY21. The company states: "In providing this guidance, the Company is mindful that recent geopolitical events related to the Russian invasion of Ukraine may impact the global commercial aerospace industry and related macro environment, including, and not limited to, supply chain disruptions, escalating sanctions, and an impact on flight activity due to higher fuel prices. Given the recency of these events and the unpredictability of how their impact may ultimately unfold, AerSale has not specifically taken these factors in providing this guidance beyond taking into consideration known impacts that the Company has already identified and adjusted for. Further, this outlook is based on an improvement in the Company's AMS segment, ongoing demand for its on-airport MRO services, accelerating demand in cargo and E-Commerce markets, and continued requests for passenger-to-freighter conversions and other TechOps products and services. AerSale continues to make progress on the FAA certification of its innovative AerAware product. The Company is progressing toward certification, but labor constraints have impacted the timely completion of software validation needed for certification until the second quarter of 2022. While AerSale remains confident that certification will be completed in 2022, it has only included modest AerAware sales in its guidance for 2022 to account for the ramp-up phase to commercialize this product once the Supplemental Type Certificate for AerAware is issued to AerSale by the FAA. The ongoing and continued monetization of the Boeing 757 fleet acquisition is expected to be the predominant driver of the AMS segment. AerSale expects to sell the remaining Boeing 757s as converted freighters in 2022 and 2023 as a result of strong demand for cargo converted aircraft."
AerSale reports Q4 EPS 21c, one estimate 16c » 16:1403/1403/14/22
Reports Q4 revenue…
Reports Q4 revenue $116.8M, one estimate $96.5M. Nicolas Finazzo, AerSale's CEO, commented, "We have executed well and made considerable progress during our first year as a public company. This result is a solid testament to the strong performance of our purpose-built, integrated, multi-dimensional adaptive business model and the resilience of our workforce. Our strategic acquisition of the 757 fleet in 2020 has proven to be a strong contributor to our consolidated results, which we expect to continue through 2022 and into 2023. This is supported by an improving commercial backdrop, and continued business development progress across the Company."