FLY Leasing Limited Crushes Earnings Estimates
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.
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.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
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.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
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.
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.
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 this article 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.