AerSale Corporation. (NASDAQ:ASLE) Q2 2024 Earnings Conference Call August 7, 2024 4:30 PM ET

Company Participants

Kristen Gallagher - HR Director
Nicolas Finazzo - Chairman and Chief Executive Officer
Martin Garmendia - Chief Financial Officer

Conference Call Participants

Bert Subin - Stifel
Ken Herbert - RBC Capital Markets
Pete Osterland - Truist Securities

Operator

Good day and welcome to the Aerosol Second Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Kristen Gallagher, HR Director. Please go ahead.

Kristen Gallagher

Good afternoon. I'd like to welcome everyone to Aerosol's Second Quarter 2024 Earnings Call. Conducting the call today are Nick Finazzo, Chief Executive Officer, and Martin Garmendia, Chief Financial Officer.

Before we discuss this quarter's results, we want to remind you that all statements made on this call that do not relate to matters of historical fact should be considered forward-looking statements within the meaning of the federal securities laws, including statements regarding our current expectations for the business and our financial performance. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results. Important factors that could cause actual results to differ materially from forward-looking statements are discussed in the risk factors section on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on March 8, 2024, and its other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those indicated by the forward-looking statements on this call. We'll also refer to non-GAAP measures that we view as important in assessing the performance of our business. A reconciliation of those non-GAAP metrics to the nearest GAAP metric can be found in the earnings presentation materials made available on the Investor section of the AerSale website at ir.aersale.com.

With that, I'll turn the call over to Nick Finazzo.

Nicolas Finazzo

Thank you, Kristen. Good afternoon, and thank you for joining our call. I'd like to begin today with a summary of the quarter and a review of our strategic objectives before turning the call over to Martin for a review of the numbers in greater detail. Our business continued to outperform prior year levels driven by stronger feedstock acquisitions in the back half of 2023. This improvement notwithstanding, our overall operating performance is well short of our plan as we have much greater capacity to output sellable inventory than we are inputting through the acquisition of feedstocks.