FLY Leasing Limited Beats on the Top Line
FLY Leasing Limited (NYS: FLY) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), FLY Leasing Limited beat expectations on revenues and crushed expectations on earnings per share.
Compared with the prior-year quarter, revenue expanded significantly and GAAP earnings per share improved significantly.
Margins improved across the board.
FLY Leasing Limited logged revenue of $104.5 million. The two analysts polled by S&P Capital IQ anticipated revenue of $90.9 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $47.6 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 $1.04. The six earnings estimates compiled by S&P Capital IQ predicted $0.31 per share. GAAP EPS of $0.78 for Q1 were much higher than the prior-year quarter's $0.10 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 99.2%, 200 basis points better than the prior-year quarter. Operating margin was 57.5%, 1,560 basis points better than the prior-year quarter. Net margin was 19.5%, 1,370 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $87.0 million. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $355.0 million. The average EPS estimate is $1.45.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 253 members out of 264 rating the stock outperform, and 11 members rating it underperform. Among 61 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 60 give FLY Leasing Limited 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 Limited is outperform, with an average price target of $14.43.
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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. He is the 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 don't 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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