AerSale (NASDAQ:ASLE) stock is down on Friday after releasing its earnings report for the fourth quarter of 2023.
The bad news for ASLE stockholders starts with the aftermarket commercial aircraft seller’s adjusted earnings per share of -2 cents during the quarter. That’s well below the 45 cents per share that Wall Street was expecting. It’s also a negative switch over the 23 cents per share reported in the same period of the year prior.
AerSales also reported revenue of $94.4 million during the fourth quarter of the year. That’s another miss compared to analysts’ revenue estimate of $156.37 million for the period. It’s also a slight decrease year-over-year compared to $95.1 million.
AerSale CEO Nicolas Finazzo said the following in the Q4 earnings report:
“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.”
What’s Next for ASLE Stock?
Finazzo is reassuring investors that the delayed sales in Q4 2023 are not lost. Instead, he says the company expects them to occur in the first half of the year. The CEO also claims that demand for its products is still strong, with its inventory on hand increasing in 2023.
Even so, traders are still unsure following this latest earnings report. That has ASLE stock down 18.3% as of Friday morning.
Investors will want to check out even more of the latest stock market news below!
We have all of the hottest stock market stories investors need to know about on Friday! That includes what’s happening with shares of Affimed (NASDAQ:AFMD) stock, Mira Pharmaceuticals (NASDAQ:MIRA) stock and Ainos (NASDAQ:AIMD) stock today. All of that info is available at the following links!
More Stock Market News for Friday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
