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Air Transport Services rallies 9.1% post Q1 results

May 08, 2019 11:17 AM ETAir Transport Services Group, Inc. (ATSG) StockBy: Pranav Ghumatkar, SA News Editor
  • Air Transport Services (NASDAQ:ATSG +9.1%) reports Q1 revenue growth of 71.5% Y/Y to $348.18M.
  • Omni Air International, acquired in November 2018, contributed $135.8M to external ATSG revenues, reflected in revenues of the ACMI Services segment.
  • Segment revenue: Cargo Aircraft Management $70.35M (+34% Y/Y); ACMI Services $257.96M (+116.1% Y/Y) & Other activities $67.36M (-6.3% Y/Y).
  • Operating margin declined 567 bps to 13.35% & Adj. EBITDA margin increased 380 bps to 32.68%.
  • YTD 2018 capital spending was $91.9M (+16% Y/Y)
  • Capex in Q1 2019 included $70.5M for the purchase of four Boeing 767 aircraft and for freighter modification costs.
  • 2019 Outlook: Capex of $475M; Adj. EBITDA for 2019 will grow 44.2% Y/Y to $450M and also purchases of four more 767s.
  • Previously: Air Transport Services beats by $0.08, beats on revenue (May. 07 2019)

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