Aftermarket supplier AerSale reported a drop in revenues for the first quarter of 2025. Total revenues fell from $90.5 million last year to $65.8 million last quarter.
“While we anticipated we would close on the sale of more engines in the first quarter, those sales closed shortly after the quarter ended and we remain confident we will see significantly greater engine sales throughout the year,” explained AerSale CEO Nick Finazzo.
Products revenue saw a steep drop from $61.6 million to $37.1 million, while services revenues fell slightly from $25.8 million to $21.2 million. However, leasing revenues more than doubled from $3.1 million to $7.5 million during the financial period.
“We continue to benefit from strong commercial demand for USM parts, MRO services and an expanding lease pool," added Finazzo. "We believe we are also supported by ample ready-to-sell inventory to drive results through 2025 and into 2026.”
The company reported a net loss of $5.3 million, swinging from a net profit of $6.3 million last year. Gross profit dropped from $28.8 million down to $18 million.
AerSale's total cost of sales fell from $61.7 million down to $47.8 million.
“We remain focused on executing our strategic initiatives which we expect will drive higher operating results as the year progresses, including monetizing our feedstock investments, deploying our 757- freighter aircraft, and capitalizing on our expanded MRO capacity and capabilities,” said Finazzo.
As of the end of the quarter, the company's assets totalled $646.1 million.