FLY Leasing Limited Earnings: Here’s Why Investors are Happy Now

FLY Leasing Limited (NYSE:FLY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.35%.

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FLY Leasing Limited Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 75.64% to $1.37 in the quarter versus EPS of $0.78 in the year-earlier quarter.

Revenue: Rose 9.46% to $114.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: FLY Leasing Limited reported adjusted EPS income of $1.37 per share. By that measure, the company beat the mean analyst estimate of $0.72. It beat the average revenue estimate of $103.62 million.

Quoting Management: “FLY is reporting another strong quarter, with higher revenues, lower expenses, a reduced debt to equity ratio and a stronger cash position,” said Colm Barrington, CEO of FLY Leasing. “Our higher revenues were positively impacted by end of lease revenues and aircraft sales proceeds. During the quarter we continued our strategy of actively managing our fleet by selling one A320, our six B717s and two B737 Classics for a gain of more than $6 million.”

Key Stats (on next page)…

Revenue decreased 12.59% from $130.87 million in the previous quarter. EPS decreased 24.73% from $1.82 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.48 to a profit $0.38. For the current year, the average estimate has moved down from a profit of $2.17 to a profit of $2.09 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)