The 10-second takeaway
For the quarter ended Sep. 30 (Q3), FLY Leasing missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped to a loss.
Margins shrank across the board.
FLY Leasing reported revenue of $86.4 million. The five analysts polled by S&P Capital IQ expected net sales of $93.9 million on the same basis. GAAP reported sales were 82% higher than the prior-year quarter's $47.4 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 $0.21. The five earnings estimates compiled by S&P Capital IQ anticipated $0.50 per share. GAAP EPS were -$1.15 for Q3 against $0.13 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 96.0%, 360 basis points worse than the prior-year quarter. Operating margin was 5.3%, 3,750 basis points worse than the prior-year quarter. Net margin was -34.1%, 4,130 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $94.0 million. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $397.3 million. The average EPS estimate is $3.01.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 261 members out of 271 rating the stock outperform, and 10 members rating it underperform. Among 75 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 74 give FLY Leasing 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 is hold, with an average price target of $14.50.
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