The 10-second takeaway
For the quarter ended March 31 (Q1), Aircastle LTD beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. Non-GAAP earnings per share dropped. GAAP earnings per share dropped significantly.
Gross margins dropped, operating margins increased, net margins dropped.
Aircastle LTD reported revenue of $176.2 million. The seven analysts polled by S&P Capital IQ expected revenue of $163.8 million on the same basis. GAAP reported sales were 6.9% higher than the prior-year quarter's $164.9 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.40. The eight earnings estimates compiled by S&P Capital IQ anticipated $0.25 per share. Non-GAAP EPS of $0.40 for Q1 were 11% lower than the prior-year quarter's $0.45 per share. GAAP EPS of $0.34 for Q1 were 24% lower than the prior-year quarter's $0.45 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 98.1%, 20 basis points worse than the prior-year quarter. Operating margin was 50.8%, 60 basis points better than the prior-year quarter. Net margin was 13.1%, 670 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $171.1 million. On the bottom line, the average EPS estimate is $0.36.
Next year's average estimate for revenue is $716.5 million. The average EPS estimate is $1.65.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 512 members out of 550 rating the stock outperform, and 38 members rating it underperform. Among 170 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 161 give Aircastle LTD a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Aircastle LTD is outperform, with an average price target of $15.80.
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