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Air Transport Services Group, Inc.'s (ATSG) CEO Joe Hete on Q4 2019 Results - Earnings Call Transcript

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Air Transport Services Group, Inc. (NASDAQ:ATSG) Q4 2019 Results Earnings Conference Call March 3, 2020 10:00 AM ET

Company Participants

Joe Hete - Chief Executive Officer

Quint Turner - Chief Financial Officer

Rich Corrado - President

Conference Call Participants

Jack Atkins - Stephens

Kevin Sterling - The Benchmark Company

Chris Stathoulopoulos - Susquehanna

Steve O’Hara - Sidoti & Company

Travis Pascavis - HIMCO


Welcome to the Q4 2019 Air Transport Services Group Incorporated Earnings Conference Call. My name is Vanessa, and I will be your operator for today’s call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions]

Please note this conference is being recorded. I will now turn the call over to Joe Hete, CEO.

Joe Hete

Thank you, Vanessa. Good morning. And welcome to our fourth quarter 2019 earnings conference call. With me today are Quint Turner, our Chief Financial Officer; and Rich Corrado, our President; and as we announced last week, our CEO-elect.

We issued our earnings release and our Form 10-K yesterday after the market closed. They are on our website, atsginc.com.

I am very happy to report to you that in 2019 we beat the annual adjusted EBITDA goal we set for ourselves, as well as the market's expectations for adjusted EPS. This is the third year in a row we have exceeded our adjusted EBITDA goal and the fourth quarter was the fifth in a row that our adjusted EPS has exceeded the consensus of the analysts who follow us.

In 2019, we substantially outperformed our 2018 results. Revenues rose 63% to $1.45 billion, a record since we became a public company in 2003, excluding the reimbursements we used to include in revenue.

Our adjusted earnings grew 32% to a record $105 million or $1.51 per

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