Reports Q3 revenue $523M, consensus $528.47M. Joe Hete, Chief Executive Officer of ATSG, said, “The third quarter started out on track with our expectations, carrying solid second-quarter momentum from our passenger airline operations into the summer. We leased seven newly converted freighters in July and early August, including five 767-300s and our first two A321-200s. However, both macro and operational pressures throughout the latter part of the quarter materially affected our results. Particularly in September, our passenger airline operations experienced service related issues that drove significant unplanned travel and flight crew costs. In our CAM leasing operations, we realized lower revenues from 767-200 aircraft sales and associated engine power than forecasted during the quarter.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ATSG:
- ATSG Earnings this Week: How Will it Perform?
- Air Transport Services price target raised to $30 from $27 at Loop Capital
- Air Transport Services price target lowered to $27 from $30 at Stifel
- Oppenheimer starts ‘misunderstood’ Air Transport Services at Outperform
- Air Transport Services initiated with an Outperform at Oppenheimer