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.
Air Transport Services Group, Inc. (Nasdaq: ATSG) has provided an operational outlook for its cargo aircraft fleet ahead of investor meetings on
Air Transport Services Group, Inc. (NASDAQ:ATSG) has announced a new share repurchase authorization allowing for the repurchase of up to $150 million of its common shares. This follows a previous buyback during October 2022, where approximately 1.6 million shares were repurchased. The Board of Directors believes that share repurchases are beneficial for shareholder interests. The authorization is flexible, permitting repurchases based on market conditions, and it can be terminated at any time.
Air Transport Services Group (ATSG) will present at the 2022 Aircraft Leasing Conference hosted by Goldman Sachs on December 1 at noon ET in New York City. Rich Corrado, ATSG CEO, will participate in a panel discussing the air cargo market and the company's resilient business model, which generates substantial cash flow from its fleet of 124 aircraft. ATSG's fleet includes 89 leased Boeing 767 freighters and supports operations for DHL and Amazon. The presentation will be available on ATSG's investor website, along with a 30-day replay.
Air Transport Services Group (ATSG) will present at the Stephens Annual Investment Conference in Nashville, Tennessee, on November 15, 2022, at 8 a.m. Central time. Rich Corrado, CEO, and Quint Turner, CFO, will discuss the company’s strong cash flow from leasing cargo aircraft to firms like Amazon and the U.S. Department of Defense. The presentation will feature a fireside chat led by analyst Jack Atkins. Interested parties can access the live webcast and replay for 30 days via ATSG's investor website.
Air Transport Services Group (ATSG) reported Q3 2022 revenues of $517 million, an 11% increase from Q3 2021, driven by strong leasing activity. GAAP earnings were $50 million ($0.68 per share), down from $62 million in the prior year due to government grants and losses on financial instruments. Adjusted EBITDA rose to $163 million. ATSG is on track to meet its $640 million Adjusted EBITDA guidance for 2022, with capital spending projected at $625 million. The company also resumed share repurchases in October, acquiring 1.6 million shares.
Air Transport Services Group (ATSG) will host an investor conference call on November 4, 2022, at 10 a.m. Eastern time to discuss its third quarter 2022 financial results ending September 30, 2022. The earnings release will be available on November 3, 2022, after market close. Participants must register through a provided link to receive dial-in information. The call can be accessed live and in replay via webcast on ATSG's website, along with supporting slides.
Air Transport Services Group (ATSG) announced the election of Jeffrey A. Dominick to its Board of Directors effective September 26, 2022. Dominick, a former Board member from 2008 to 2012, brings significant expertise in aircraft acquisition and freighter conversions. His return restores the Board's size to ten members following the retirement of Rich Baudouin in April 2022. Dominick is expected to be nominated for a full term at the May 2023 annual meeting. ATSG remains a leading provider in aircraft leasing and air transportation services.
Air Transport Services Group (ATSG) will present a webcast at the Global Transportation & Sustainable Mobility Conference on September 7, 2022, at 3 p.m. ET. Cowen analyst Helane Becker will lead a discussion with ATSG's CEO Rich Corrado, CFO Quint Turner, and VP Matt Fedders, focusing on the company’s business model and growth strategy in converted freighter aircraft and dedicated passenger transport services. The live audio webcast will be available on ATSG's website for 10 days after the event.
Air Transport Services Group (ATSG) reported a 24% increase in revenue for Q2 2022, totaling $510 million. However, GAAP earnings dropped to $54 million from $80 million due to previous pandemic relief grants. Adjusted earnings per share rose to $0.59. ATSG expects a record $640 million in adjusted EBITDA for 2022, driven by leasing growth, despite inflation-related cost increases. The company plans to lease a record 18 freighters in 2023, with strong demand anticipated for its express-package delivery services.
Air Transport Services Group (ATSG) will host an investor conference call on August 5, 2022, at 10 a.m. Eastern time to discuss its financial results for Q2 ending June 30, 2022. The earnings release will be issued on August 4, 2022, after market close. Participants must register here. Webcast access and replays will be available on ATSG’s website.
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