FLY Leasing Limited Crushes Earnings Estimates

Seth Jayson, The Motley Fool
Updated

FLY Leasing Limited (NYS: FLY) reported earnings on Mar. 8. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), FLY Leasing Limited beat slightly on revenues and crushed expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share contracted to a loss.

Gross margins increased, operating margins expanded, net margins dropped.

Revenue details
FLY Leasing Limited chalked up revenue of $94.5 million. The three analysts polled by S&P Capital IQ expected sales of $92.7 million on the same basis. GAAP reported sales were 81% higher than the prior-year quarter's $52.2 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $0.54. The four earnings estimates compiled by S&P Capital IQ anticipated $0.42 per share on the same basis. GAAP EPS were -$0.37 for Q4 against $0.39 per share for the prior-year quarter.

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Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 99.7%, 390 basis points better than the prior-year quarter. Operating margin was 54.7%, 920 basis points better than the prior-year quarter. Net margin was -9.7%, 3,010 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $89.5 million. On the bottom line, the average EPS estimate is $0.35.

Next year's average estimate for revenue is $369.1 million. The average EPS estimate is $1.44.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 253 members out of 263 rating the stock outperform, and 10 members rating it underperform. Among 66 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 66 give FLY Leasing Limited a green thumbs-up, and zero give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FLY Leasing Limited is hold, with an average price target of $15.90.

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At the time thisarticle was published 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 ofMotley 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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