Air Transport Services Group, Inc. (ATSG) CEO Joe Hete on Q3 2019 Results - Earnings Call Transcript

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Air Transport Services Group, Inc. (NASDAQ:ATSG) Q3 2019 Earnings Conference Call November 7, 2019 10:00 AM ET

Company Participants

Joe Hete - President, CEO & Director

Quint Turner - CFO

Michael Berger - Chief Commercial Officer & President of Airborne Global Solutions

Conference Call Participants

Conor Cunningham - Cowen & Company

David Ross - Stifel, Nicolaus & Company

Stephen O'Hara - Sidoti & Company

Christopher Stathoulopoulos - Susquehanna Financial Group

Christopher Hillary - Roubaix Capital

Operator

Welcome to the Q3 2019 Air Transport Services Group Incorporated Earnings Conference Call. My name is John, and I'll be your operator for today's call. [Operator Instructions] Please note that this conference is being recorded.

And now I will turn the call over to Joe Hete, Chief Executive Officer, ATSG. Mr. Hete, you may begin.

Joe Hete

Thanks, John. Good morning, and welcome to our third quarter 2019 earnings conference call. With me today is Quint Turner, our Chief Financial Officer. Rich Corrado, who became President of ATSG in September, is traveling overseas today. We issued our earnings release yesterday after the market closed. It's on our website, atsginc.com. We will file our Form 10-Q later this week.

Once again, I'm pleased to report to you that this year, we are performing at levels consistent with the adjusted EBITDA guidance we have shared and exceeding our targets for adjusted EPS. Our business strategy of investing in and leasing midsize aircraft to major express and e-commerce customers and combining those assets with crew, maintenance and insurance services for those who require them continues to be a winning formula. Our purchase of Omni a year ago has continued to provide accretive contributions to our operating results.

For the third quarter, we again substantially outperformed our prior year results. Our revenues are up 79% to $366 million. Our adjusted earnings are up

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