AerSale Corporation provides integrated aviation aftermarket services and solutions for operators of Boeing, Airbus and legacy McDonnell Douglas aircraft. Its news commonly covers aircraft and engine sales and leasing, used serviceable material sales, component and airframe MRO, asset management for mid-life and end-of-life aircraft, and FAA-certified engineered solutions such as AerSafe®, AerTrak® and AerAware™.
Company updates also address quarterly results, feedstock and inventory levels, flight equipment sales, leasing activity, MRO capacity, and customer transactions involving commercial aircraft and freighter platforms. Recurring operating themes include the mix between Asset Management Solutions and TechOps, demand for USM and maintenance services, and engineered products tied to aircraft safety, performance and regulatory compliance.
AerSale (NASDAQ: ASLE) has announced a significant share repurchase agreement to buy back approximately 6.428 million shares from Leonard Green & Partners at $7.00 per share, totaling $45 million. The transaction, expected to close around March 18, 2025, will reduce the company's outstanding share count by approximately 12%.
Concurrent with this announcement, Jonathan Seiffer will step down from the Board of Directors effective immediately. The share repurchase will be funded through available cash and the company's revolving credit facility, following an amendment to its credit agreement on March 14, 2025.
AerSale (ASLE) reported Q4 2024 revenue of $94.7 million, slightly up from $94.4 million in Q4 2023. The company achieved a GAAP net income of $2.7 million in Q4 2024, compared to a net loss of $2.7 million in the prior year period.
For full year 2024, revenue increased 3.2% to $345.1 million, with a GAAP net income of $5.9 million versus a net loss of $5.6 million in 2023. The company's Asset Management revenue remained stable at $215.5 million, while TechOps revenue grew 8.6% to $129.6 million.
Q4 2024 highlights include Adjusted EBITDA of $13.0 million, up from $6.0 million in Q4 2023, and flight equipment sales of six engines. The company ended 2024 with $142.8 million in liquidity, including $4.7 million in cash and $138.1 million available on their revolving credit facility.
AerSale (ASLE) has appointed Thomas Mullins to its Board of Directors, expanding the board to eight members. Mullins brings over 30 years of investment banking experience from Raymond James, where he was part of the founding team and developed the Airlines and Aviation Services practice, completing more than 55 transactions across The Americas and Europe.
As a lead banker, Mullins has overseen more than 140 transactions, particularly with middle market companies, and has extensive experience in M&A, IPOs, stock offerings, share repurchases, and debt issuance. CEO Nicolas Finazzo highlighted that Mullins' expertise will enhance AerSale's financial acumen, assist in optimizing capital structure, and help assess financial opportunities.
AerSale (NASDAQ: ASLE) has scheduled its fourth quarter and full year 2024 earnings release for Thursday, March 6, 2025, after market close. The company will host a conference call at 4:30 pm Eastern Time on the same day to discuss the results.
Investors can access the call through domestic (1-844-792-3727) or international (1-412-317-1888) numbers. A live webcast will be available on the company's investor relations website. A telephonic replay will be accessible until March 20, 2025, using domestic (1-844-512-2921) or international (1-412-317-6671) numbers with access code 10196136.
AerSale (NASDAQ: ASLE) has announced its participation in TD Cowen's 46th Annual Aerospace & Defense Conference. Chief Executive Officer Nicolas Finazzo will deliver a presentation on Wednesday, February 12, 2025 at 2:05 pm ET and will also host investor meetings.
The presentation will be accessible through a live webcast, available via a direct link or through the News and Events section of AerSale's Investor Relations website. A replay of the presentation will be made available on the company's Investor Relations website following the event.
AerSale (ASLE) reported Q3 2024 revenue of $82.7 million, down from $92.5 million in Q3 2023. The company posted a GAAP net income of $0.5 million compared to a net loss of $0.1 million in the prior year period. Flight equipment sales included five engines with no aircraft sales, versus seven engines and a Boeing 757 P2F conversion in Q3 2023. Excluding flight equipment sales, revenue grew 26% year-over-year to $60.1 million, driven by strong commercial demand and MRO activities. The company ended the quarter with $103.5 million in liquidity, including $9.8 million in cash.
AerSale (NASDAQ: ASLE) has scheduled its third quarter 2024 earnings release for Thursday, November 7, 2024, after market close. The company will host a conference call at 4:30 pm Eastern Time on the same day. Investors can join via phone using 1-800-225-9448 (US) or 1-203-518-9708 (international). A live webcast will be available on AerSale's investor relations website. A replay will be accessible until February 7, 2025, using 1-844-512-2921 (US) or 1-412-317-6671 (international) with access code 11157096.
AerSale (NASDAQ: ASLE) has announced its participation in the upcoming Jefferies Industrials Conference. The company's Chief Financial Officer, Martin Garmendia, is scheduled to present on Thursday, September 5, 2024, at 1:55 pm ET. In addition to the presentation, Garmendia will host investor meetings on both days of the conference.
The presentation will be webcast live and can be accessed through a provided link or via the News and Events section of AerSale's Investor Relations website. A replay of the presentation will be made available shortly after its conclusion on the company's Investor Relations website.
AerSale reported Q2 2024 financial results with revenue of $77.1 million, up from $69.3 million in the same period last year. Despite the increase in revenue, the company posted a GAAP net loss of $3.6 million, wider than the $2.7 million loss in Q2 2023. The adjusted net loss also expanded to $2.6 million from $0.6 million. Adjusted EBITDA, however, improved to $3.2 million from -$0.5 million.
Key operational highlights include the sale of five engines and no aircraft, compared to four engines and two unserviceable airframes a year earlier. Feedstock acquisitions amounted to $36 million with an additional $71 million under contract. AerSale’s flight equipment inventory stood at $378.8 million as of June 30, 2024.
The company made significant progress in MRO facility expansions, including the completion of a new on-airport MRO in Millington, Tennessee, and enhancements to facilities in Miami.
AerSale (NASDAQ: ASLE) has announced the date for its second quarter 2024 earnings release conference call. The company will release its earnings results for the quarter ended June 30, 2024, on Wednesday, August 7, 2024, after the market closes. A conference call will be held on the same day at 4:30 pm Eastern Time to discuss the results.
Participants can access the call using the following numbers:
- US callers: 1-877-300-8521
- International callers: 1-412-317-6026
A live webcast will be available at https://ir.aersale.com/news-events/events. A telephonic replay will be accessible until November 7, 2024, using the same numbers with access code 10190507. An archived replay will also be available on the Investors section of the AerSale website.