ATSG forecasts ‘solid growth’ into the next decade

Air Transport Services Group (ATSG) reported first-quarter net income up 21.5 percent y-o-y to $10.0 million as net revenue jumped 34.1 percent to $238 million. Operating income for the quarter was up 15.6 percent to $17.7 million. Adjusting for the impact of non-cash expenses related to warrants associated with ATSG’s agreement with Amazon, net earnings were up 33 percent to $11.2 million.

In a conference call last week discussing the first-quarter results, ATSG’s senior management stressed that, with the major expenses required by the Amazon agreement now mostly out of the way, and with the acquisition of PEMCO World Air Services beginning to make a strong contribution, things would only get better. They said the ACMI segment would return to profitability this year, and that earnings from the CAM leasing segment would strengthen. In the words of CEO Joe Hete, not only are things good now, but ATSG is looking ahead to “solid growth into the next decade.”

For a deeper analysus, please see David Harris’ article in sister publication, Cargo Facts:

https://cargofacts.com/atsg-forecasts-solid-growth-into-the-next-decade/