The 10-second takeaway
For the quarter ended June 30 (Q2), FLY Leasing crushed expectations on revenues and earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew significantly.
Margins increased across the board.
FLY Leasing notched revenue of $110.9 million. The four analysts polled by S&P Capital IQ predicted a top line of $92.0 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $54.2 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 $1.19. The five earnings estimates compiled by S&P Capital IQ predicted $0.36 per share. GAAP EPS of $0.99 for Q2 were much higher than the prior-year quarter's $0.16 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 98.4%, 320 basis points better than the prior-year quarter. Operating margin was 59.0%, 1,760 basis points better than the prior-year quarter. Net margin was 23.2%, 1,560 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $91.8 million. On the bottom line, the average EPS estimate is $0.29.
Next year's average estimate for revenue is $380.5 million. The average EPS estimate is $1.65.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 254 members out of 264 rating the stock outperform, and 10 members rating it underperform. Among 70 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 68 give FLY Leasing a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FLY Leasing is hold, with an average price target of $14.50.
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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 here. He is 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 may not 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.
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