AerSale reports Q2 EPS (7c), consensus 10c

Reports Q2 revenue $77.1M, consensus 87.1M. Nick Finazzo, AerSale’s Chief Executive Officer, commented, “Our results improved over the prior year driven by higher feedstock acquisitions over the past 18 months, continued demand in MRO and incremental volume of AerSafe(TM). We have also advanced on a set of initiatives to drive future growth and more consistently exceed our fixed cost hurdles. We have progressed on the multi-year expansion of both capacity and capabilities at our on and off-airport MRO facilities, which includes our new on-airport MRO in Millington, Tennessee, pneumatics capability at our Miami, Florida accessories shop, and tripling the size of our aerostructures shop also located in Miami. Our Millington on-airport MRO was completed in May and is presently serving our first airline customer. We expect both of our Miami component MROs to be serving customers before year-end, at which time we anticipate a sharp rise in sales from these business units. Beside our investment in new facilities, capacity and capabilities, we have continued to use our balance sheet to acquire feedstock to supply our asset management group, which will enhance our ability to generate investor returns through USM, leased equipment and whole asset sales.”