Air T, Inc. Reports Fiscal 2025 Results
Air T, Inc. (NASDAQ:AIRT) has reported its fiscal 2025 results, showing mixed performance across its diverse business segments. The company achieved total revenues of $291.9 million, a 2% increase year-over-year, and improved operating income to $1.9 million from $1.3 million in the previous year.
Key segment performances include: Overnight Air Cargo revenues increased 7%, Ground Support Equipment revenues grew 5%, while Commercial Aircraft, Engines and Parts saw a revenue decline. The Digital Solutions segment showed strong growth with a 26% revenue increase. Despite operational improvements, the company reported a loss per share of $2.23, though improved from $2.42 in the previous year.
The company's Adjusted EBITDA improved to $7.4 million from $6.2 million in the prior year, demonstrating enhanced operational efficiency despite challenges in some segments.
Air T, Inc. (NASDAQ:AIRT) ha comunicato i risultati fiscali per il 2025, evidenziando performance variegate nei diversi settori di attività. L'azienda ha registrato ricavi totali per 291,9 milioni di dollari, con un aumento del 2% rispetto all'anno precedente, e un miglioramento dell'utile operativo a 1,9 milioni di dollari rispetto a 1,3 milioni dell'anno precedente.
Le performance chiave per segmento includono: ricavi del Trasporto Aereo Notturno aumentati del 7%, ricavi dell'Equipaggiamento di Supporto a Terra cresciuti del 5%, mentre il segmento Aerei Commerciali, Motori e Parti ha registrato una diminuzione dei ricavi. Il segmento Soluzioni Digitali ha mostrato una forte crescita con un incremento del 26% nei ricavi. Nonostante i miglioramenti operativi, la società ha riportato una perdita per azione di 2,23 dollari, seppur in miglioramento rispetto ai 2,42 dollari dell'anno precedente.
L'EBITDA rettificato dell'azienda è salito a 7,4 milioni di dollari dai 6,2 milioni dell'anno precedente, dimostrando una maggiore efficienza operativa nonostante le difficoltà in alcuni segmenti.
Air T, Inc. (NASDAQ:AIRT) ha presentado sus resultados fiscales de 2025, mostrando un desempeño mixto en sus diversos segmentos de negocio. La compañía alcanzó ingresos totales de 291,9 millones de dólares, un aumento del 2% interanual, y mejoró su ingreso operativo a 1,9 millones de dólares desde 1,3 millones el año anterior.
Las principales actuaciones por segmento incluyen: ingresos de Carga Aérea Nocturna que aumentaron un 7%, ingresos de Equipos de Soporte Terrestre que crecieron un 5%, mientras que Aeronaves Comerciales, Motores y Partes experimentaron una disminución en ingresos. El segmento de Soluciones Digitales mostró un sólido crecimiento con un aumento del 26% en ingresos. A pesar de las mejoras operativas, la empresa reportó una pérdida por acción de 2,23 dólares, aunque mejor que los 2,42 dólares del año anterior.
El EBITDA ajustado de la empresa mejoró a 7,4 millones de dólares desde 6,2 millones del año anterior, demostrando una mayor eficiencia operativa a pesar de los desafíos en algunos segmentos.
Air T, Inc. (NASDAQ:AIRT)는 2025 회계연도 실적을 발표하며 다양한 사업 부문에서 엇갈린 성과를 보였습니다. 회사는 총 매출 2억 9,190만 달러를 기록하며 전년 대비 2% 증가했고, 영업이익은 이전 해 130만 달러에서 190만 달러로 개선되었습니다.
주요 부문 성과는 다음과 같습니다: 야간 항공 화물 매출이 7% 증가했고, 지상 지원 장비 매출은 5% 성장했으나, 상업용 항공기, 엔진 및 부품 부문은 매출이 감소했습니다. 디지털 솔루션 부문은 26% 매출 증가로 강력한 성장을 보였습니다. 운영 개선에도 불구하고 주당 손실은 2.23달러로 보고되었으며, 이는 전년도의 2.42달러 손실보다 개선된 수치입니다.
회사의 조정 EBITDA는 전년 620만 달러에서 740만 달러로 향상되어 일부 부문의 어려움에도 불구하고 운영 효율성이 향상되었음을 보여줍니다.
Air T, Inc. (NASDAQ:AIRT) a publié ses résultats pour l'exercice 2025, affichant des performances mitigées dans ses différents segments d'activité. La société a réalisé un chiffre d'affaires total de 291,9 millions de dollars, en hausse de 2 % par rapport à l'année précédente, et a amélioré son résultat opérationnel à 1,9 million de dollars contre 1,3 million l'année précédente.
Les performances clés par segment incluent : une augmentation de 7 % des revenus du Fret Aérien de Nuit, une croissance de 5 % des revenus des Équipements de Support au Sol, tandis que le segment Avions Commerciaux, Moteurs et Pièces a vu ses revenus diminuer. Le segment Solutions Digitales a connu une forte croissance avec une hausse de 26 % des revenus. Malgré des améliorations opérationnelles, la société a enregistré une perte par action de 2,23 dollars, bien qu'en amélioration par rapport à 2,42 dollars l'année précédente.
L'EBITDA ajusté de la société est passé à 7,4 millions de dollars contre 6,2 millions l'année précédente, démontrant une meilleure efficacité opérationnelle malgré les défis rencontrés dans certains segments.
Air T, Inc. (NASDAQ:AIRT) hat seine Ergebnisse für das Geschäftsjahr 2025 veröffentlicht und zeigt dabei gemischte Leistungen in seinen verschiedenen Geschäftsbereichen. Das Unternehmen erzielte Gesamtumsätze von 291,9 Millionen US-Dollar, was einem Anstieg von 2 % gegenüber dem Vorjahr entspricht, und verbesserte das Betriebsergebnis auf 1,9 Millionen US-Dollar gegenüber 1,3 Millionen im Vorjahr.
Wichtige Segmentleistungen umfassen: Die Umsätze im Bereich Übernacht-Luftfracht stiegen um 7 %, die Umsätze im Bereich Bodenausrüstung wuchsen um 5 %, während der Bereich Kommerzielle Flugzeuge, Triebwerke und Teile einen Umsatzrückgang verzeichnete. Das Segment Digitale Lösungen zeigte mit einem Umsatzwachstum von 26 % starkes Wachstum. Trotz betrieblicher Verbesserungen meldete das Unternehmen einen Verlust je Aktie von 2,23 US-Dollar, was jedoch eine Verbesserung gegenüber 2,42 US-Dollar im Vorjahr darstellt.
Das bereinigte EBITDA des Unternehmens verbesserte sich auf 7,4 Millionen US-Dollar gegenüber 6,2 Millionen im Vorjahr und zeigt eine gesteigerte operative Effizienz trotz Herausforderungen in einigen Segmenten.
- Overall revenue increased by 2% to $291.9 million
- Operating income improved by 46% to $1.9 million
- Adjusted EBITDA increased by 19% to $7.4 million
- Digital Solutions segment revenue grew 26% year-over-year
- Ground Support Equipment backlog increased to $14.3 million from $12.6 million
- Commercial Aircraft segment's Adjusted EBITDA improved significantly to $9.8 million from $6.1 million
- Reported loss per share of $2.23, though improved from previous year
- Commercial Aircraft segment revenue decreased by $7.3 million
- Digital Solutions segment reported Adjusted EBITDA loss of $0.3 million
- Ground Support Equipment segment continued to operate at a loss with -$0.8 million Adjusted EBITDA
- Corporate and Other expenses increased to -$8.2 million from -$6.3 million
Insights
Air T's FY2025 shows modest improvement with 2% revenue growth and increased operating income, though still operating at a net loss.
Air T's fiscal 2025 results present a mixed financial picture with incremental improvements. The company posted
Despite these operational gains, the company still reported a net loss per share of
The performance across Air T's business segments reveals both strengths and weaknesses. The Overnight Air Cargo segment, primarily serving FedEx, saw a healthy
The Commercial Aircraft, Engines and Parts segment faced headwinds with a revenue decline, attributed to supply constraints in a competitive market and extended aircraft lifecycles. However, this segment significantly improved profitability with a
Most impressive was the Digital Solutions segment, which achieved
The investment balance in equity method investees increased by
CHARLOTTE, NC / ACCESS Newswire / June 27, 2025 / Air T, Inc. (NASDAQ:AIRT) is an industrious American company with a portfolio of businesses, each of which is independent yet interrelated. We seek dynamic individuals and teams to operate companies using processes that increase stakeholder value over time. We believe we can apply corporate resources to help activate growth and overcome challenges.
Our core segments are overnight air cargo; ground support equipment; commercial aircraft, engines and parts; and digital solutions.
Today the Company is announcing results for the Fiscal year ended March 31, 2025:
Revenues totaled
$291.9 million for the fiscal year ended March 31, 2025, an increase of$5.0 million , or2% from the prior fiscal year.Operating income was
$1.9 million for the fiscal year ended March 31, 2025, compared to operating income in the prior fiscal year of$1.3 million .Adjusted EBITDA* of
$7.4 million for the fiscal year ended March 31, 2025, compared to Adjusted EBITDA* of$6.2 million in the prior fiscal year.The investment balance for the Company's equity method investees was
$19.0 million at March 31, 2025; as compared to$16.7 million at March 31, 2024.Loss per share of
$2.23 for the fiscal year ended March 31, 2025, compared to loss per share of$2.42 for the prior fiscal year.
*Adjusted EBITDA is a non-GAAP financial measure; see below for further explanation and reconciliation to GAAP measure.
Company Chairman and CEO Nick Swenson commented:
"Air T is working to build shareholder value each and every day. We have a number of important initiatives in the works, and we are gaining traction with several new products and marketing channels. We are optimistic about the future."
Business Segment Results
Effective as of the fourth quarter of fiscal year 2025, we renamed our ground equipment sales segment to ground support equipment and renamed our commercial jet engines and parts segment to commercial aircraft, engines and parts to better align the descriptions of the segments with their activities.
Additionally, we have elected to separately disclose the digital solutions segment to better align our financial statement presentation with a key long-term growth area for the Company. Digital solutions was previously classified as part of insignificant business activities. As a result of this change, prior period segment information has been recast to conform to our current presentation in our financial statements and related notes.
The Company additionally has a central corporate function that acts as the capital allocator and resource for other consolidated businesses, referred to as Corporate and other. Further, Corporate and other also comprises insignificant businesses and business interests.
Overnight Air Cargo
This segment provides air express delivery services, primarily for FedEx, and repair services.
Revenues from the overnight air cargo segment increased by
$8.5 million (7% ) compared to the prior fiscal year, principally attributable to higher labor revenues, increase in admin fees and higher FedEx pass through revenues due to higher billable hours for maintenance. Pass-through costs under the dry-lease agreements with FedEx totaled$39.9 million and$36.4 million for the years ended March 31, 2025 and 2024, respectively.Adjusted EBITDA* for this segment was
$6.8 million for the fiscal year ended March 31, 2025, a decrease of$0.3 million when compared to the prior fiscal year, due primarily to increased loss provisioning for bad debt and additional taxes related to Puerto Rico operations.
Ground Support Equipment
This segment-which includes some of the world-leading offerings in the category-manufactures mobile deicers and other specialized ground-support equipment. Customers include passenger and cargo airlines, airports, the military, and other industrial customers.
Revenues for this segment totaled
$38.9 million for Fiscal Year 2025, up5% versus$37.2 million in the prior fiscal year. The increase was primarily driven by an increase in spare part sales and support services provided to customers while deicer sales increased slightly.Adjusted EBITDA* loss for this segment was
$0.8 million in the fiscal year ended March 31, 2025, compared to an adjusted EBITDA* loss of$0.9 million in the prior fiscal year.At March 31, 2025, the ground support equipment segment's order backlog was
$14.3 million compared to$12.6 million at March 31, 2024.
Commercial Aircraft, Engines and Parts
This segment leases commercial jet engines and aircraft; buys, sells and trades in surplus and aftermarket commercial jet engines, engine parts, airframes, and airframe parts, avionics, and other; then delivers the related documents and logistics.
Revenues for this segment totaled
$118.2 million in Fiscal Year 2025, a decrease of$7.3 million from Fiscal Year 2024. The decrease was primarily driven by a lower supply of whole assets available to purchase for tear-down or resale in an increasingly competitive market, further exacerbated by aircraft operators keeping older aircraft in operation for longer than they have in the past.Adjusted EBITDA* for this segment was
$9.8 million for the fiscal year ended March 31, 2025, compared to Adjusted EBITDA* of$6.1 million in the prior fiscal year. The increase was primarily attributable to increased sales of component packages with a higher gross profit in the current fiscal year.
Digital Solutions
This segment develops and provides digital aviation and other business services to customers within the aviation industry to generate recurring subscription revenues.
The digital solutions segment contributed
$7.3 million of revenues in the fiscal year ended March 31, 2025 compared to$5.8 million in the prior fiscal year which is an increase of$1.5 million (26% ). The increase is primarily due to increased software subscriptions driven by continued acquisition of new and recurring customers.Adjusted EBITDA* loss for the digital solutions segment was
$0.3 million for the fiscal year ended March 31, 2025. Adjusted EBITDA* decreased by$0.4 million in the current fiscal year, primarily due to increased personnel needed to continue to scale operations.
*Adjusted EBITDA is a non-GAAP financial measure; see below for further explanation and reconciliation to GAAP measures.
Non-GAAP Financial Measures
The Company uses adjusted earnings before taxes, interest, and depreciation and amortization ("Adjusted EBITDA"), a non-GAAP financial measure as defined by the SEC, to evaluate the Company's financial performance. This performance measure is not defined by accounting principles generally accepted in the United States and should be considered in addition to, and not in lieu of, GAAP financial measures.
Adjusted EBITDA is defined as earnings before taxes, interest, and depreciation and amortization, adjusted for specified items. The Company calculates Adjusted EBITDA by removing the impact of specific items and adding back the amounts of interest expense and depreciation and amortization to earnings before income taxes. When calculating Adjusted EBITDA, the Company does not add back depreciation expense for aircraft engines that are on lease, as the Company believes this expense matches with the corresponding revenue earned on engine leases. There was
Management believes that Adjusted EBITDA is a useful measure of the Company's performance because it provides investors additional information about the Company's operations allowing better evaluation of underlying business performance and better period-to-period comparability. Adjusted EBITDA is not intended to replace or be an alternative to operating income, the most directly comparable amounts reported under GAAP. We may periodically review and update our non-GAAP financial measures based on our determination of their relevance to our business which could result in the addition or elimination of select non-GAAP financial measures in the future.
The table below provides a reconciliation of operating income (loss) from continuing operations to Adjusted EBITDA for the periods ended March 31, 2025, and 2024(in thousands):
Twelve Months Ended | ||||||||
March 31, 2025 | March 31, 2024 | |||||||
Operating income (loss) from continuing operations | $ | 1,908 | $ | 1,264 | ||||
Depreciation and amortization (excluding leased assets depreciation) | 2,998 | 2,798 | ||||||
Asset impairment, restructuring or impairment charges | 1,463 | 1,195 | ||||||
Loss on sale of property and equipment | 15 | 18 | ||||||
TruPs issuance expenses | 212 | 347 | ||||||
Share-based compensation | 88 | 106 | ||||||
Severance expenses | 244 | 462 | ||||||
Earnout remeasurement | 435 | - | ||||||
Adjusted EBITDA | $ | 7,363 | $ | 6,190 | ||||
The following table shows the Company's Adjusted EBITDA by segment for the periods ended March 31, 2025, and 2024 (in thousands):
Twelve Months Ended | ||||||||
March 31, 2025 | March 31, 2024 | |||||||
Overnight Air Cargo | $ | 6,808 | $ | 7,144 | ||||
Ground Support Equipment | (773 | ) | (949 | ) | ||||
Commercial Aircraft, Engines and Parts | 9,832 | 6,119 | ||||||
Digital Solutions | (272 | ) | 149 | |||||
Segments total | 15,595 | 12,463 | ||||||
Corporate and Other | (8,232 | ) | (6,273 | ) | ||||
Adjusted EBITDA | $ | 7,363 | $ | 6,190 | ||||
NOTE REGARDING STAKEHOLDER QUESTIONS
If you have questions related to this release or other Air T matters, please use our interactive Q&A capability, through Slido.com, accessible from our website, to submit your questions. We intend to keep that link open and available for shareholder questions. Questions submitted through Slido will be answered "live" and in writing at our Annual Meeting, and via a written response on a quarterly basis. Note that legal and pragmatic requirements restrict us from answering every question posted, yet we intend to address all reasonable and relevant questions with a written answer.
ABOUT AIR T, INC.
Established in 1980, Air T Inc. is a portfolio of powerful businesses and financial assets, each of which is independent yet interrelated. Its core segments are overnight air cargo, ground equipment sales, commercial jet engines and parts, and corporate and other. We seek to expand, strengthen and diversify Air T's after-tax cash flow per share. Our goal is to build Air T's core businesses, and when appropriate, to expand into adjacent and other industries. We seek to activate growth and overcome challenges while delivering meaningful value for all stakeholders. For more information, visit www.airt.net.
FORWARD-LOOKING STATEMENTS
Certain statements in this Report, including those contained in "Overview," are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the Company's financial condition, results of operations, plans, objectives, future performance and business. Forward-looking statements include those preceded by, followed by or that include the words "believes", "pending", "future", "expects," "anticipates," "estimates," "depends" or similar expressions. These forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements, because of, among other things, potential risks and uncertainties, such as:
An inability to finance our operations through bank or other financing or through the sale or issuance of debt or equity securities;
Economic and industry conditions in the Company's markets;
The risk that contracts with FedEx Corporation ("FedEx") could be terminated or adversely modified;
The risk that the number of aircraft operated for FedEx will be reduced;
The risk that GGS customers will defer or reduce significant orders for deicing equipment;
The impact of any terrorist activities or armed conflict on United States soil or abroad;
Changes in U.S. and foreign trade regulations and tariffs;
The Company's ability to manage its cost structure for operating expenses, or unanticipated capital requirements, and match them to shifting customer service requirements and production volume levels;
The Company's ability to meet debt service covenants and to refinance existing debt obligations;
The risk of injury or other damage arising from accidents involving the Company's overnight air cargo operations, equipment or parts sold and/or services provided;
Market acceptance of the Company's commercial and military equipment and services;
Competition from other providers of similar equipment and services;
Changes in government regulation and technology;
Changes in the value of marketable securities held as investments;
Mild winter weather conditions reducing the demand for deicing equipment;
Market acceptance and operational success of the Company's aircraft asset management business and related aircraft capital joint venture; and
Despite our current indebtedness levels, we and our subsidiaries may still be able to incur substantially more debt, which could further exacerbate the risks associated with our substantial leverage.
A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. We are under no obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT
Tracy Kennedy
Chief Financial Officer
tkennedy@airt.net
704-264-5102
SOURCE: Air T, Inc.
View the original press release on ACCESS Newswire
FAQ
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