Business
AerSale Reports Fourth Quarter and Full Year 2023 Results
2023 Full Year Highlights Revenue of $334.5 million GAAP net loss of $5.6 million Adjusted net income1 of $3.5 million Adjusted EBITDA1 of $12.3 million
About this update from Aersale Corporation
[{"type":"text","content":"\n2023 Full Year Highlights\n\n\n\nRevenue of $334.5 million\n\n\n\nGAAP net loss of $5.6 million\n\n\n\nAdjusted net income1 of $3.5 million\n\n\n\nAdjusted EBITDA1 of $12.3 million\n\n\n\nFlight equipment sales included four (4) aircraft and seventeen (17) engines during 2023\n\n\n\nAerAware™ receives Supplemental Type Certificate from the Federal Aviation Administration; Company launches go-to-market activities\n\n\n\nFeedstock acquisitions of $131.9 million and an additional $72.0 million under contract\n\n\n\nFlight Equipment inventory available of $329.2 million which will fuel Asset Management Solutions activity in 2024\n\n\n\nTechnical Operations revenue up 11.3% (excluding flight equipment sales) showing underlying strength in both on airport and component MROs\n\n\n\n CORAL GABLES, Fla.--(BUSINESS WIRE)--\nAerSale Corporation (Nasdaq: ASLE) (the “Company”) today reported results for the fourth quarter and full year ended December 31, 2023.\n\n\nNicolas Finazzo, AerSale’s Chief Executive Officer, commented, “The end of 2023 proved challenging as a large volume of anticipated flight equipment sales shifted into 2024, which substantially impacted our 4th quarter and full-year financial performance. As we regularly note, flight equipment sales fluctuate quarter-over-quarter and have an outsized impact on short term financials as the incremental revenue is realized after fixed costs have been fully absorbed by the rest of the business. These delayed flight equipment sales are not lost and are anticipated to occur in the first half of 2024, and we encourage investors to monitor our performance over a longer time period based on feedstock acquisitions and monetization.”\n\n\nFinazzo added, “Demand for AerSale products and services is robust, and inventory ready for sale has increased markedly in 2023 as evidenced by our underlying business performance excluding flight equipment sales. We expect this momentum to continue into the new year and drive improved results going forward.”\n\n\nUpdate on AerAware\nIn early December, the Federal Aviation Administration (“FAA”) issued AerSale a Supplemental Type Certificate (“STC”) for “AerAware™”, the Company’s revolutionary Enhanced Flight Vision System (“EFVS”) for the Boeing B737NG product line. This achievement marked the world's first commercial EFVS system to achieve a 50% visual ...