Air Transport Services Group (NASDAQ:ATSG) stock has reached a new 52-week high, climbing to $22.33, marking a 92% increase from its 52-week low of $11.62, as the company continues to capitalize on robust demand in the air freight sector. This milestone reflects a significant uptrend in the company's market performance, with a remarkable 1-year change of 55.97% and a strong 44.42% gain over the past six months. While currently showing a negative earnings per share, analysts forecast a return to profitability in 2024 with projected earnings of $0.73 per share. Investors have shown increased confidence in ATSG's business model and growth prospects, which has been reflected in the stock's impressive ascent over the past year. The achievement of this 52-week high serves as a testament to the company's resilience and strategic initiatives that have propelled it forward in a competitive industry. According to InvestingPro, which offers comprehensive analysis of 1,400+ stocks including ATSG, the stock is currently trading near its Fair Value.
In other recent news, Air Transport Services Group (ATSG) shareholders have approved a merger deal with investment firm Stonepeak. The merger, which is expected to conclude in the first half of 2025, will result in ATSG operating as a privately held entity. As per the agreement, ATSG's common shareholders will receive $22.50 per share in cash once the deal is finalized.
In addition to the merger, ATSG recently released preliminary estimated unaudited financial results for the fourth quarter and full year ended December 31, 2024. For the year, the company expects revenue to be between $1.958 billion and $1.962 billion, with Adjusted EBITDA ranging from $545.1 million to $551.1 million. The preliminary data for the three months ended December 31, 2024, indicates revenue is estimated to be between $513 million and $517 million, with Adjusted EBITDA expected to be in the range of $158 million to $164 million.
These recent developments come as part of a potential debt financing transaction related to the pending acquisition by Stonepeak. The transaction is still subject to customary closing conditions, including regulatory approvals.
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