Air Transport Services Group (NASDAQ:ATSG) shares have reached a new 52-week high of $22.37, representing a significant milestone for the $1.46 billion market cap cargo airline company. According to InvestingPro data, the stock has demonstrated remarkable stability with historically low price volatility. This milestone reflects a significant uptrend in the company's stock value, with InvestingPro data showing an impressive 67.02% return over the past year and a robust 34.19% gain in the last six months. Investors have shown growing confidence in ATSG's business model, which has been buoyed by the increased demand for air cargo services. The company's strategic initiatives and operational efficiency have played a key role in this impressive year-over-year growth, positioning ATSG as a strong performer in the aviation sector. InvestingPro subscribers have access to 8 additional key insights about ATSG's financial health and growth prospects through the comprehensive Pro Research Report.
In other recent news, Air Transport Services Group, Inc. (ATSG) has announced preliminary financial results for the year ending December 31, 2024. The company expects revenue to be between $1.958 billion and $1.962 billion, with Adjusted EBITDA projected to range from $545.1 million to $551.1 million. This represents a decrease from the previous year's revenue of $2.070 billion and Adjusted EBITDA of $561.6 million. Additionally, for the fourth quarter of 2024, ATSG estimates revenue between $513 million and $517 million, with Adjusted EBITDA anticipated to be between $158 million and $164 million.
In other developments, ATSG shareholders have approved a merger with Stonepeak, an investment firm specializing in infrastructure and real assets. The merger agreement stipulates that ATSG's common shareholders will receive $22.50 per share in cash, with the transaction expected to close in the first half of 2025, subject to regulatory approvals. Once finalized, ATSG will become a privately held entity and will no longer trade on the NASDAQ. Stonepeak manages approximately $72 billion in assets and has a global presence, which may offer new growth opportunities for ATSG in the logistics and transport sectors.
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