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Sep 30, 2022
ATSG Q3 2022 Earnings Report
ATSG reported strong third quarter results driven by top-line growth, increased freighter leases, and reaffirmed adjusted EBITDA guidance.
Key Takeaways
Air Transport Services Group (ATSG) reported an 11% increase in revenues to $517 million for the third quarter of 2022, compared to the third quarter of 2021. GAAP earnings were $50 million, or $0.68 per share. Adjusted Earnings Per Share increased to $0.60, and Adjusted EBITDA increased to $163 million.
Revenues increased by 11% compared to the previous year.
GAAP Earnings were $50 million, or $0.68 per share.
Adjusted Earnings Per Share increased three cents per share to $0.60.
Adjusted EBITDA increased by $10 million to $163 million.
Revenue by Segment
Forward Guidance
ATSG expects its Adjusted EBITDA for 2022 to meet or exceed $640 million, up nearly $100 million from 2021.
Positive Outlook
- Delivery of the last three of eight dry leases of 767-300 newly converted freighters CAM will complete this year.
- Addition of the last three of seven customer-provided 767 freighters that our airlines will operate under CMI arrangements.
- Achieving projected levels of peak-season flying.
- Demand for express-package network assets and flight operations remains strong.
- Anticipate growth in ATSG’s cash flow through the current economic cycle and beyond.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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