STOCK TITAN
  1. Home
  2. News
  3. ATSG

Air Transport Services Group, Inc. - ATSG STOCK NEWS

Welcome to our dedicated page for Air Transport Services Group news (Ticker: ATSG), a resource for investors and traders seeking the latest updates and insights on Air Transport Services Group stock.

Air Transport Services Group, Inc. (ATSG) is a leading provider of air cargo transportation and related services, catering to both domestic and international clients. With a portfolio of principal subsidiaries, ATSG offers a comprehensive range of solutions including air cargo lift, aircraft leasing, maintenance services, airport ground support, fuel management, and air charter brokerage.

The company's core business revolves around two primary segments: Cargo Aircraft Management (CAM) and ACMI Services (Aircraft, Crew, Maintenance, and Insurance). The ACMI Services segment generates the majority of the company's revenue, showcasing its significant role in the cargo transportation and package delivery sectors.

ATSG's major subsidiaries include ABX Air, Inc., Air Transport International LLC, and Capital Cargo International Airlines, Inc., among others. Additionally, the company operates Airborne Maintenance & Engineering Services, Inc. and Airborne Global Services, Inc., which contribute to its diverse service offerings.

Recently, ATSG, in collaboration with GA Telesis, LLC, achieved a significant milestone by obtaining an Air Agency Certificate from the European Union Aviation Safety Agency (EASA) for their joint venture, the Specialized Procedures Aeroengine Hospital (SPAH) at the Wilmington Air Park in Ohio. This certification allows the joint venture to offer rapid jet engine maintenance services, enhancing performance reliability for up to 200 engines annually.

ATSG's robust infrastructure and strategic partnerships have enabled it to expand its global footprint, providing innovative solutions and ensuring customer success. The company's mission is further supported by its high-quality repair and overhaul services, as well as its advanced supply chain capabilities.

For more information, please visit the official website at www.atsginc.com.

News

ATSG Reports Third Quarter 2023 Results

Rhea-AI Summary
Air Transport Services Group (ATSG) reported third-quarter financial results with revenues of $523 million, up 1% compared to the same quarter in 2022. GAAP EPS from Continuing Operations was $0.26, down $0.42, while Adjusted EPS from Continuing Operations was $0.32, versus $0.60. Adjusted EBITDA was $137 million, down from $163 million. The company deployed seven newly-converted freighters, including two A321-200s, in the quarter. The 2023 outlook has been revised due to the current operating environment.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-22.86%
Tags
earnings
-
News

ATSG Board of Directors Appoints Joe Hete as Chief Executive Officer

Rhea-AI Summary
Air Transport Services Group (ATSG) has appointed Joe Hete as its CEO, replacing Rich Corrado. Hete, the former CEO of ATSG, brings 40 years of leadership experience in the air freight industry. The company believes Hete is the right leader to accelerate its strategy and capitalize on long-term opportunities. ATSG will also report its third-quarter 2023 financial results, with an investor conference call scheduled for tomorrow.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-22.86%
Tags
management
-
News

ATSG to Host Third Quarter 2023 Investor Conference Call

Rhea-AI Summary
Air Transport Services Group, Inc. (ATSG) will host an investor conference call to review its third quarter 2023 financial results on November 7, 2023. Results will be released on November 6, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.86%
Tags
conferences earnings
News

ATSG Names Mike Berger as President

Rhea-AI Summary
Air Transport Services Group (ATSG) promotes Mike Berger to President, effective October 1, 2023, to lead transformational growth in freighter leasing and air operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.34%
Tags
none
-
News

Air Transport Services Group to Host Investor Day

Rhea-AI Summary
Air Transport Services Group, Inc. (ATSG) to host Investor Day on September 27, 2023, featuring presentations from executive leadership team and live Q&A panel discussion.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.6%
Tags
conferences
-
News

ATSG to Webcast Fireside Chat at the TD Cowen 2023 Global Transportation Conference

Rhea-AI Summary
ATSG to webcast fireside chat at TD Cowen Global Transportation Conference
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.23%
Tags
conferences
News

ATSG Completes Record Month of Freighter Deployments

Rhea-AI Summary
ATSG: Record Six Converted Freighters Delivered in One Month, Global Leasing Demand Remains Strong
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.71%
Tags
none
-
News

Air Transport Services Group, Inc. Prices $350 Million Convertible Senior Notes Offering

Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.14%
Tags
none
-
News

Air Transport Services Group, Inc. Announces Proposed Convertible Senior Notes Offering

Rhea-AI Summary
Air Transport Services Group, Inc. (NASDAQ: ATSG) intends to offer $350,000,000 aggregate principal amount of convertible senior notes due 2029 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The notes will be senior, unsecured obligations of ATSG, will accrue interest payable semi-annually in arrears, and will mature on August 15, 2029. ATSG will use a portion of the net proceeds from the offering to repurchase shares of its common stock and to repay a portion of the outstanding borrowings under its revolving credit facility. The rest of the net proceeds will be used for general corporate purposes. The offer and sale of the notes and any shares of common stock issuable upon conversion of the notes have not been, and will not be, registered under the Securities Act or any other securities laws, and the notes and any such shares cannot be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any other applicable securities laws.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.14%
Tags
none
News

ATSG Reports Second Quarter 2023 Results

Rhea-AI Summary
Air Transport Services Group, Inc. (ATSG) projects record 2023 freighter lease deployments with lower capital expenditure requirements. Increases 2023 adjusted EPS guidance. Q2 2023 revenues of $529 million, up 4%. Adjusted EPS of $0.57. Pretax earnings of $50 million, down from $69 million. 3.9 million shares repurchased since October 2022. CAM segment revenues up 4% driven by higher lease rates. Pre-tax earnings decreased 22% due to return of 767-200s. ACMI Services pre-tax earnings up 10% driven by improved performance. ATSG expects Adjusted EBITDA for 2023 to be $610-620 million and Adjusted EPS of $1.65-1.80. Decreases 2023 capital spending projection by $65 million to $785 million. Midsize freighter leasing driven by e-commerce growth. Capital investments in 2024 expected to be lower than 2023 levels.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
14.91%
Tags
earnings

FAQ

What is the current stock price of Air Transport Services Group (ATSG)?

The current stock price of Air Transport Services Group (ATSG) is $21.96 as of November 21, 2024.

What is the market cap of Air Transport Services Group (ATSG)?

The market cap of Air Transport Services Group (ATSG) is approximately 1.4B.

What services does Air Transport Services Group, Inc. offer?

ATSG offers air cargo transportation, aircraft leasing, maintenance services, airport ground support, fuel management, and air charter brokerage.

Which segments generate the majority of ATSG's revenue?

The ACMI Services (Aircraft, Crew, Maintenance, and Insurance) segment generates the majority of ATSG's revenue.

What recent achievements has ATSG accomplished?

ATSG recently obtained an Air Agency Certificate from EASA for its joint venture, the Specialized Procedures Aeroengine Hospital (SPAH), enhancing jet engine maintenance capabilities.

What are the major subsidiaries of ATSG?

Major subsidiaries include ABX Air, Inc., Air Transport International LLC, Capital Cargo International Airlines, Inc., Airborne Maintenance & Engineering Services, Inc., and Airborne Global Services, Inc.

What types of aircraft does ATSG's fleet include?

ATSG's fleet includes Boeing 767, Airbus A321, and Airbus A330 converted freighters.

Where can I find more information about ATSG?

For more details, visit the official website at www.atsginc.com.

What is the Specialized Procedures Aeroengine Hospital (SPAH)?

SPAH is a joint venture between ATSG and GA Telesis offering rapid jet engine maintenance services, certified by EASA to enhance performance reliability.

What is the significance of the EASA certification for ATSG?

EASA certification allows ATSG to offer dual-release return to service documentation, extending the global reach of its maintenance services.

What is the primary mission of ATSG?

ATSG's mission is to provide innovative solutions ensuring customer success through high-quality services and strategic partnerships.

What are the key business segments of ATSG?

The key business segments are Cargo Aircraft Management and ACMI Services (Aircraft, Crew, Maintenance, and Insurance).

Stock ATSG logo
Air Transport Services Group, Inc.

Nasdaq:ATSG

ATSG Rankings

#2251 Ranked by Market Cap
N/A Ranked by Dividends

ATSG Stock Data

1.44B
50.82M
22.23%
81.39%
4.22%
Airlines
Air Courier Services
Link
United States of America
WILMINGTON