AerSale Corporation is a global provider of aftermarket commercial aircraft, engines, and parts, as well as maintenance, repair, and overhaul (MRO) services. The company serves passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors. It is distinctive for its integrated approach, offering both asset management solutions and technical operations, including proprietary engineered solutions and aircraft conversions.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
335,286
345,066
334,503
408,544
Cost of Sales
229,512
241,130
242,082
257,150
Gross Profit
105,774
103,936
92,421
151,394
Selling, General & Administrative Expenses
89,984
94,192
103,191
96,348
Operating Profit
15,790
9,744
(10,770)
55,046
Interest Expense
(8,330)
(5,703)
155
1,093
Non-Operating Income
3,067
3,796
2,936
1,743
Total Non-Operating Income
(5,263)
(1,907)
3,091
2,836
Income Before Provision for Income Taxes
10,527
7,837
(7,679)
57,882
Provision for Income Taxes
1,952
1,986
(2,116)
14,021
Consolidated Net Income
8,575
5,851
(5,563)
43,861
Net Income Attributable to Common Shareholders
8,575
5,851
(5,563)
43,861
Basic EPS
0.18
0.11
-0.11
0.85
Diluted EPS
0.18
0.11
-0.15
0.83
Basic Weighted Average Shares Outstanding
48,379
53,114
51,291
51,568
Diluted Weighted Average Shares Outstanding
48,755
53,359
51,458
53,146
Shares Outstanding
47,222
53,253
52,954
51,189
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
4,379
4,698
5,873
147,188
Total Cash and Cash Equivalents
4,379
4,698
5,873
147,188
Accounts Receivable
42,654
34,646
31,239
28,273
Other Receivables
1,728
1,994
1,628
—
Total Trade Receivables
44,382
36,640
32,867
28,273
Inventories
211,058
231,635
364,925
211,115
Other Current Assets
9,170
11,057
12,507
13,022
Total Current Assets
268,989
284,030
264,774
333,556
Net Property, Plant & Equipment
322,882
268,241
81,686
75,550
Net Intangible Assets
18,347
20,530
21,986
24,112
Goodwill
19,860
19,860
19,860
19,860
Other Long-Term Assets
10,394
12,062
15,176
12,459
Total Assets
640,472
604,723
553,938
531,579
Accounts Payable
29,645
34,184
29,899
21,131
Accrued Expenses
7,233
7,400
5,478
8,843
Current Portion of Long-Term Debt
993
605
1,278
—
Current Portion of Leases
4,313
4,356
4,593
4,426
Unearned Revenue
530
1,781
2,998
1,355
Other Current Liabilities
29,719
26,644
1,467
17,085
Total Current Liabilities
72,433
74,970
45,713
52,840
Long-Term Debt
111,337
40,444
36,281
—
Leases
28,190
30,565
24,377
28,283
Other Long-Term Liabilities
4,081
3,124
2,551
5,476
Total Long-Term Liabilities
143,608
74,133
63,209
33,759
Total Liabilities
216,041
149,103
108,923
86,599
Common Stock
5
5
5
0
Additional Paid-in Capital
276,729
316,493
311,739
306,141
Retained Earnings
147,697
139,122
133,271
138,834
Total Common Shareholders' Equity
424,431
455,620
445,015
444,975
Total Shareholders' Equity
424,431
455,620
445,015
444,975
Total Liabilities and Shareholders' Equity
640,472
604,723
553,938
531,579
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
8,575
5,851
(5,563)
43,861
Depreciation & Amortization
19,334
16,048
10,459
10,984
Share-Based Compensation Expense
4,887
4,347
12,051
16,498
Other Adjustments
5,727
4,323
(920)
606
Changes in Trade Receivables
(8,008)
(3,601)
(2,966)
(1,029)
Changes in Inventories
(54,800)
(78,029)
(168,632)
(37,637)
Changes in Accounts Payable
(4,539)
4,287
8,768
1,164
Changes in Accrued Expenses
(232)
1,832
(3,537)
417
Changes in Income Taxes Payable
595
(366)
(1,628)
(3,443)
Changes in Unearned Revenue
(1,251)
(1,217)
1,643
(1,505)
Changes in Other Operating Activities
6,743
57,709
(23,825)
(30,032)
Cash from Operating Activities
(22,969)
11,184
(174,150)
(113)
Capital Expenditure
(6,081)
(14,052)
(11,359)
(8,462)
Proceeds from Sale of Property, Plant & Equipment
6,381
12,900
14,450
52,771
Other Investing Activities
(4,160)
(14,978)
—
(2,938)
Cash from Investing Activities
(3,860)
(16,130)
3,091
41,371
Issuance of Short-Term Debt
305,418
192,644
82,700
—
Repayments of Short-Term Debt
(234,600)
(182,409)
(53,700)
—
Net Issuance / (Repayments) of Short-Term Debt
70,818
10,235
29,000
—
Issuance of Long-Term Debt
1,173
2,429
8,559
—
Repayments of Long-Term Debt
(710)
(9,174)
—
—
Net Issuance / (Repayments) of Long-Term Debt
463
(6,745)
8,559
—
Issuance of Common Shares
(37)
(124)
(7,019)
538
Repurchases of Common Shares
(44,614)
531
566
(24,796)
Net Issuance / (Repurchases) of Common Shares
(44,651)
407
(6,453)
(24,258)
Other Financing Activities
(120)
(126)
(1,362)
—
Cash from Financing Activities
26,510
3,771
29,744
(24,258)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash