Stock Story -
Aircraft leasing company FTAI Aviation (NASDAQ:FTAI) will be reporting results tomorrow afternoon. Here's what investors should know.
FTAI Aviation beat analysts' revenue expectations by 7.9% last quarter, reporting revenues of $326.7 million, up 11.6% year on year. It was a mixed quarter for the company, with a miss of analysts' earnings estimates.
Is FTAI Aviation a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting FTAI Aviation's revenue to grow 32.3% year on year to $362.9 million, slowing from the 145% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.44 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. FTAI Aviation has missed Wall Street's revenue estimates three times over the last two years.
Looking at FTAI Aviation's peers in the industrial distributors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fastenal (NASDAQ:FAST) delivered year-on-year revenue growth of 1.8%, meeting analysts' expectations, and MSC Industrial reported a revenue decline of 7.1%, in line with consensus estimates. Fastenal traded up 5.8% following the results while MSC Industrial's stock price was unchanged.
Read the full analysis of Fastenal's and MSC Industrial's results on StockStory.
There has been positive sentiment among investors in the industrial distributors segment, with share prices up 4.5% on average over the last month. FTAI Aviation is up 13.7% during the same time and is heading into earnings with an average analyst price target of $95.4 (compared to the current share price of $104.03).
