ATSG Q1 2022 Earnings Report
Key Takeaways
Air Transport Services Group (ATSG) reported record first-quarter results for 2022, with revenues up 29% to $486 million and GAAP earnings increasing by 18% to $50 million. The company's performance benefited from a rebound in passenger flying and strong returns from freighter leasing, setting a strong pace for 2022.
Revenues increased by 29% to $486 million compared to Q1 2021.
GAAP Earnings rose by 18% to $50 million.
Adjusted Earnings Per Share reached $0.56, nearly tripling the previous year's $0.20.
Adjusted EBITDA increased by 49% to $158 million.
ATSG
ATSG
ATSG Revenue by Segment
Forward Guidance
ATSG projects a record $640 million in Adjusted EBITDA for 2022 and capital spending of $590 million, including $200 million in sustaining capex and $390 million for growth.
Positive Outlook
- Dry leases of eleven more converted freighters, including nine 767-300s.
- CMI assignments for nine more 767 freighter aircraft, including two leased by CAM and seven others placed by owners or lessees.
- Continued increase in Omni’s commercial charter and ATI’s combi flights throughout 2022.
- Customer orders for all 30 newly converted freighters to be leased this year and next year.
- Customer orders for the first 20 of 29 Airbus A330s to be acquired and converted, with leases beginning in 2024 through 2026.
Challenges Ahead
- No specific negative guidance mentioned in the provided text.
Revenue & Expenses
Visualization of income flow from segment revenue to net income