WILMINGTON, Ohio - Air Transport Services Group (NASDAQ:ATSG) reported fourth quarter earnings that beat analyst expectations, while revenue came in slightly below estimates.
The air cargo and transportation services provider posted adjusted earnings per share of $0.40, surpassing the analyst consensus of $0.29. Revenue for the quarter was $517 million, just shy of the $524.6 million analysts were expecting.
Key highlights from the quarter:
- Revenue was flat year-over-year at $517 million
- Adjusted EBITDA increased to $162.2 million, up from $129.9 million in Q4 2023
- Free cash flow improved to $34.7 million, compared to negative $65.5 million a year ago
"I’m proud of the entire ATSG team for their focus and dedication as we delivered strong fourth quarter results, as well as safe and reliable service," said CEO Mike Berger.
The company saw continued momentum in its aircraft leasing business, placing its ninth converted 767-300 freighter with an external customer in November. ACMI Services profitability improved, with all ten additional aircraft recently provided by Amazon (NASDAQ:AMZN) operating during the quarter.
ATSG generated significant free cash flow of $228 million for the full year 2024. The company remains on track to close its previously announced acquisition by Stonepeak in the first half of 2025.
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