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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
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Air Transport Services Group (Nasdaq: ATSG) reported strong financial results for 2022, achieving record revenues of $2.0 billion, up 18% from the previous year. Fourth quarter revenues were $533 million, reflecting an 11% increase. Adjusted EBITDA rose 18% to $641 million, driven by investments of nearly $600 million for future growth. Despite growth, GAAP EPS declined to $2.67, a drop of $0.66. In 2023, ATSG expects Adjusted EBITDA between $650 million and $660 million, while Adjusted EPS is projected to decrease to $1.85-$2.00 due to inflationary pressures and reduced operations. The company plans significant capital investments to support expanding leasing operations.

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Air Transport Services Group (ATSG) announced an investor conference call scheduled for February 24, 2023, at 10 a.m. Eastern time. The call will review fourth quarter 2022 financial results and provide insights for 2023. The earnings release will be available on February 23, 2023, after market close. Participants must register via this link, accessible on ATSG’s website under “Investors.”

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Air Transport Services Group, Inc. (Nasdaq: ATSG) has provided an operational outlook for its cargo aircraft fleet ahead of investor meetings on February 7, 2023. The company will reaffirm its full-year 2022 Adjusted EBITDA guidance from November 3, 2022. Key developments include plans to convert and deliver fourteen Boeing 767-300 freighters and six Airbus A321-200 freighters in 2023. Additionally, ATSG anticipates significant capital expenditure increases in 2023 and a transition year due to changes in leased freighter types and client schedules. CEO Rich Corrado expressed confidence in moderate EBITDA growth despite macroeconomic challenges.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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FAQ

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

The current stock price of Air Transport Services Group (ATSG) is $21.87 as of December 20, 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).

Air Transport Services Group, Inc.

Nasdaq:ATSG

ATSG Rankings

ATSG Stock Data

1.44B
50.82M
22.23%
81.39%
3.98%
Airlines
Air Courier Services
Link
United States of America
WILMINGTON