Why AerSale Stock Is Falling Today
Aircraft maintenance services provider AerSale (NASDAQ: ASLE) delivered a decent quarter, but investors were disappointed by the cautious commentary about 2023. Shares of AerSale traded down as much as 17% on Tuesday morning after the market was forced to recalibrate expectations for the current year.
AerSale, an owner of used aircraft, spare engines, and other components, earned $0.23 per share on revenue of $95.1 million in the fourth quarter. The earnings beat Wall Street's $0.20-per-share expectation, but sales were short of the $123 million forecast. The revenue figure was down from the $116.8 million reported in the fourth quarter of 2021.
The culprit was flight equipment sales, which tend to occur at irregular intervals and can be hard to predict. Flight equipment revenue was $51.4 million in the most recent quarter, down from $73.1 million in the prior-year period.
Source Fool.com
