ASLE - Why AerSale Stock Is Volatile Today
2024-05-09 14:51:35 ET
Aircraft component and systems supplier AerSale (NASDAQ: ASLE) reported a stronger-than-expected quarter, but the company isn't reporting much traction yet for one of its most closely watched products. Shares of AerSale initially traded up 25% post-earnings before falling back to up 8% as of 2 p.m. ET Thursday.
AerSale's core business is maintaining and selling used airplanes, engines, and aerospace parts. The company earned $0.11 per share in the quarter on sales of $90.5 million, beating Wall Street's estimate of $0.04 per share in profit on revenue of $85 million, thanks to strong demand from airlines trying to get more use of their existing fleets.
Revenue was up 15% year over year, and generally accepted accounting principles ( GAAP ) net income grew to $6.3 million from $5,000 in the prior-year period.
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Why AerSale Stock Is Volatile Today