Air Transport Services Group, Inc. (NASDAQ:ATSG) today announced that it will host an investor conference call on Wednesday, May 6, 2020, at 10 a.m. Eastern Time to review its financial results for the first quarter ended March 31, 2020.
ATSG earnings call for the period ending March 31, 2020.
Air Transport Services (ATSG) delivered earnings and revenue surprises of 16.22% and 4.73%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Stockholders of Air Transport Services Group, Inc. (NASDAQ:ATSG) meeting today on a virtual-only basis have re-elected seven directors and elected one new director nominee to the Board of Directors.
WILMINGTON, Ohio--(BUSINESS WIRE)--Air Transport Services Group, Inc. (Nasdaq: ATSG), the leading provider of medium wide-body aircraft leasing, contracted air transportation and related services, today reported consolidated financial results for the quarter …
Hedge funds don't get the respect they used to get. Nowadays investors prefer passive funds over actively managed funds. One thing they don't realize is that 100% of the passive funds didn't see the coronavirus recession coming, but a lot of hedge funds did. Even we published an article near the end of February and […]
ATSG earnings call for the period ending March 31, 2020.
ATSG said today its subsidiary, LGSTX Services, has been awarded a contract with the U.S. Postal Service to operate a sort facility in Aurora, IL.
Moody's Investors Service, ("Moody's") has affirmed the ratings of the following aircraft leasing companies and revised their outlooks to negative: AerCap Holdings N.V. (Baa3 backed issuer rating), Aviation Capital Group LLC (Baa2 issuer rating), Avolon Holdings Limited (Baa3 backed issuer rating), DAE Funding LLC (Baa3 backed long-term senior unsecured), Fly Leasing Limited (Ba3 corporate family rating), and Voyager Aviation Holdings, LLC (B1 corporate family rating). Moody's has also revised the review of Aircastle Limited's Baa3 long-term senior unsecured rating to review for downgrade from review direction uncertain.
Unfortunately for some shareholders, the Air Transport Services Group (NASDAQ:ATSG) share price has dived 32% in the...
Today we are going to look at Air Transport Services Group, Inc. (NASDAQ:ATSG) to see whether it might be an...
Air Transport Services (ATSG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
WILMINGTON, Ohio--(BUSINESS WIRE)--Stockholders of Air Transport Services Group, Inc. (NASDAQ:ATSG) meeting today on a virtual-only basis have re-elected seven directors and elected one new director nominee to the Board of Directors. During the meeting, stock…
Air Transport Services Group, Inc. (Nasdaq: ATSG), the leading provider of medium wide-body aircraft leasing, contracted air transportation and related services, today reported consolidated financial results for the quarter ended March 31, 2020.
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Air Transport Services Group (NASDAQ: ATSG) reported fourth-quarter adjusted pretax earnings increased $28.1 million, or 29%, to $124.3 million, ahead of analysts' expectations, on the strength of its aircraft leasing and contract air transport divisions.ATSG's fourth-quarter revenue topped $403 million, about $40 million above consensus estimates, driven by strong growth of 5.1% in turnkey business (aircraft, crew, maintenance and insurance), most of which is attributed to the increase in outsourced flying of Boeing 767 freighters for Amazon.com, peak season flying for UPS and the 2018 acquisition of Omni Air International, which provides passenger and government charters.Full-year revenue reached a record $1.45 billion."2019 was very productive and profitable for ATSG and its family of companies, excluding warrant effects. ... Demand for our cargo aircraft and flight operations was strong, due in large part to more aircraft and more flight operations for Amazon. We are optimistic that 2020 will be just as good ... as we expect to deploy 8-10 more 767 converted freighters for customers," CEO Joe Hete, who announced a week ago that he is retiring on May 7, said in a statement.Growth this year is expected to come from several sources, boosted by the rising demand in e-commerce. The company already has commitments for leases on nine 767 freighters, four of which will be operated on behalf of Amazon. UPS Inc. will directly lease three more, one of which was already delivered in January. Contract flying for Amazon, the U.S. military and other government customers is also expected to increase. New demand from existing and new customers in 2021 will result in all of ATSG's available 767-300s being placed into service by the end of next year.Officials said they expect earnings before interest, taxes, depreciation and amortization in 2020 to increase to about $490 million from $452 million in 2019, roughly in line with Wall Street estimates. The outlook wasn't higher because ATSG plans to shift around some aircraft under new contracts, including three 767-200s being returned off lease. DHL, which represents 14% of ATSG's revenue, is also not renewing its ACMI agreement for four Boeing 757-200s that expires this month. Nonetheless, analysts said it was a positive message considering the ongoing effects of the coronavirus contagion.Company officials said the only real business risk from coronavirus appears to be for military flights from affected countries and potential quarantines.New investment in eight 767 passenger aircraft and modifying them into freighters is projected to be about $420 million — $30 million and three aircraft less than last year."We will be ready to meet their [customers'] expanding needs, even as we anticipate decreasing capital expenditures and debt leverage over the next several years," Hete said. Last year, the equipment-only leasing subsidiary added 11 aircraft through the Omni Air acquisition (the planes are leased back to Omni) and seven converted 767 freighters. Fourth-quarter revenue from external customers increased $44.5 million year-over-year. The subsidiary owned 104 aircraft at year-end, 10 more than in 2018.Airline revenues, through operating companies Omni, ABX Air and Air Transport International, increased $100 million to $293 million in the fourth quarter.Hete Retirement Hete will be succeeded by Rich Corrado, 60, who was elevated to president in September. Hete is expected to be named chairman of the board at the company's annual meeting on May 7.Hete has led the company since 2003, when it was first spun off from Airborne Express as required under airline ownership laws when German express carrier DHL acquired Airborne. He served 20 years in various management roles at ABX prior to that.Hete is credited with growing the company and the stock's value. During the past decade, ATSG's common-share price increased more than four times as much as the Dow Jones Industrial, S&P 500 and Russell 2000 indexes."He led ATSG through an incredible transformation from a one-customer, express-package airline into the world's largest source of dedicated midsize freighter aircraft and related services, now including dedicated midsize passenger aircraft services as well," current Chairman Randy Rademacher said in a statement. "He is known throughout the air cargo industry as a pioneer who saw the potential of leasing midsize converted freighters to give integrated carriers more fleet flexibility, and give others a means to build air-cargo networks without a substantial capital commitment. He also built a solid leadership team and we are confident in their abilities to build on Joe's legacy."Image Sourced from PixabaySee more from Benzinga * Truck Vs. Intermodal: Which Is The Better Choice? * Ford Officials Charged About Electric Transit Van * Mercado Libre To Invest 0 Million In Mexico Targeting Rival Amazon(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
WILMINGTON, Ohio--(BUSINESS WIRE)--Air Transport Services Group, Inc. (NASDAQ:ATSG) today announced that it will host an investor conference call on Wednesday, May 6, 2020, at 10 a.m. Eastern Time to review its financial results for the first quarter ended Ma…
Moody's Investors Service, ("Moody's") has affirmed the ratings of the following aircraft leasing companies and revised their outlooks to negative: AerCap Holdings N.V. (Baa3 backed issuer rating), Aviation Capital Group LLC (Baa2 issuer rating), Avolon Holdings Limited (Baa3 backed issuer rating), DAE Funding LLC (Baa3 backed long-term senior unsecured), Fly Leasing Limited (Ba3 corporate family rating), and Voyager Aviation Holdings, LLC (B1 corporate family rating). Moody's has also revised the review of Aircastle Limited's Baa3 long-term senior unsecured rating to review for downgrade from review direction uncertain.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the m…
If you're interested in Air Transport Services Group, Inc. (NASDAQ:ATSG), then you might want to consider its beta (a...
Q4 2019 Air Transport Services Group, Inc. Earnings Call
WILMINGTON, Ohio (AP) — Air Transport Services Group Inc. (ATSG) on Tuesday reported first-quarter net income of $137.5 million.
Moody's Investors Service, ("Moody's") has affirmed the ratings of the following aircraft leasing companies and revised their outlooks to negative: AerCap Holdings N.V. (Baa3 backed issuer rating), Aviation Capital Group LLC (Baa2 issuer rating), Avolon Holdings Limited (Baa3 backed issuer rating), DAE Funding LLC (Baa3 backed long-term senior unsecured), Fly Leasing Limited (Ba3 corporate family rating), and Voyager Aviation Holdings, LLC (B1 corporate family rating). Moody's has also revised the review of Aircastle Limited's Baa3 long-term senior unsecured rating to review for downgrade from review direction uncertain.
While Air Transport Services Group, Inc. (NASDAQ:ATSG) shareholders are probably generally happy, the stock hasn't had...
Hedge funds don't get the respect they used to get. Nowadays investors prefer passive funds over actively managed funds. One thing they don't realize is that 100% of the passive funds didn't see the coronavirus recession coming, but a lot of hedge funds did. …
It's much better to be a cargo than a passenger airline these days. The former has seen demand shoot through the roof; the latter's business has fallen off a cliff.Air Transport Services Group, Inc. (NASDAQ: ATSG) delivered first-quarter operating profit of $133.7 million, or $2.27 per share, versus $22.6 million in the year-ago period on the strength of combined revenue growth of 12% for its aircraft leasing and air transport segments. That's a good three months compared to passenger carriers that were hundreds of millions of dollars in the red as the coronavirus destroyed travel demand.Consolidated diluted earnings of 84 cents per share beat consensus estimates by 54 cents, and revenue came in 11.8% higher than expected at $389 million. The results follow record revenues and strong earnings growth in 2019.ATSG, Wilmington, Ohio, is not providing full-year guidance but did say it expects adjusted earnings before interest, taxes, depreciation and amortization to exceed the 2019 total of $452 million. That's more detail about future performance than most companies are giving these days because of coronavirus uncertainties.The air services provider said it expects to receive $67 million from the federal aid package for the airline industry designed to prevent involuntary furloughs through September.View more earnings on ATSGThe company continues to be busy, from its cargo subsidiaries deploying more aircraft to meet growing e-commerce demand at customers such as Amazon.com, Inc. (Nasdaq: AMZN) and DHL, to its maintenance and engineering group completing avionics work on short notice for the New England Patriots' Boeing 767 so it could fly to China to pick up about 1 million N95 face masks for hospitals in Boston and New York."Despite the pandemic, we remain cautiously optimistic about the rest of 2020, as we deploy more 767 converted freighters for customers responding to expanded e-commerce shopping, and operate passenger aircraft to support the U.S. military's evolving requirements," CEO Joe Hete said in his final earnings statement before retiring on Thursday.Cargo Aircraft Management (CAM), the leasing company, benefited from seven newly converted 767 freighters deployed in the past year, including one being flown by UPS since January. CAM has 62 of its in-service cargo aircraft leased to customers — three more than a year ago — and 35 of those are operated by sister companies ABX Air or Air Transport International. CAM has 15 aircraft being converted to cargo configuration or ready for lease, and more than half are already committed to customers, with the rest likely to be rented this year or next, ATSG said.First-quarter revenue for its contract air transport subsidiaries increased 10%, mainly from growth in passenger charter Omni Air and Air Transport International. The three airlines operate 69 aircraft, 15 of them passenger variants. The company said it is holding on to two 757-200 freighters for the rest of the year even though DHL's contract for them expired Friday.Air Transport International is training crews now to begin flying four additional 767-300 aircraft leased by Amazon from CAM.See more from Benzinga * Stifel Sees Decent Volumes Near Term, 2Q In Jeopardy(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Q1 2020 Air Transport Services Group Inc Earnings Call
Amazon is now directly hiring the people who load and unload Prime Air cargo jets. It's bad news for its three air-cargo contractors. Amazon's in-housing has already wiped nearly $US2 million in potential earnings for one of its air-cargo partners. More »
Air Transport Services (ATSG) delivered earnings and revenue surprises of 16.22% and 4.73%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?