Why AerSale Stock Fell Today
Used-plane repair and salvage specialist AerSale (NASDAQ: ASLE) was one of the more under-the-radar companies to go public in the last year via a merger with a special purpose acquisition company (SPAC). But the spotlight was directly on the company today after its earnings report. Shares of AerSale were down 19.2% at the close Wednesday on investor disappointment over guidance.
AerSale specializes in the sale, lease, and exchange of used aircraft, engines, and components. It provides a range of maintenance, repair, overhaul, and replacement services for commercial aircraft operators. The company went public last December, merging with a SPAC called Monocle Acquisition.
On Tuesday evening, AerSale reported third-quarter earnings of $0.22 per share on revenue of $73.3 million, a split result compared to the one analyst covering the stock, who expected $0.20 per share in earnings on revenue of $94 million.
Source Fool.com
