FLY Leasing Limited
The 10-second takeaway
For the quarter ended March 31 (Q1), FLY Leasing Limited beat expectations on revenues and crushed expectations on earnings per share.
Compared with the prior-year quarter, revenue expanded significantly and GAAP earnings per share improved significantly.
Margins improved across the board.
FLY Leasing Limited logged revenue of $104.5 million. The two analysts polled by S&P Capital IQ anticipated revenue of $90.9 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $47.6 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 $1.04. The six earnings estimates compiled by S&P Capital IQ predicted $0.31 per share. GAAP EPS of $0.78 for Q1 were much higher than the prior-year quarter's $0.10 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 99.2%, 200 basis points better than the prior-year quarter. Operating margin was 57.5%, 1,560 basis points better than the prior-year quarter. Net margin was 19.5%, 1,370 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $87.0 million. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $355.0 million. The average EPS estimate is $1.45.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 253 members out of 264 rating the stock outperform, and 11 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 60 give FLY Leasing Limited a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FLY Leasing Limited is outperform, with an average price target of $14.43.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings. He is the co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.