Air T Stock Price, News & Analysis

Air T, Inc. (NASDAQ:AIRT) announced a Modified Dutch Auction to exchange up to 138,000 shares of Common Stock for TruPs (8.0% Alpha Income Trust Preferred Securities) valued at $25.00 each. The exchange offer aims to provide shareholders with a premium (13% to 51%) over the current market price of $23.21 per share. This opportunity is available until July 6, 2023, and allows shareholders to choose how many TruPs they wish to exchange. The Board believes this offer benefits shareholders amid market volatility, as it represents approximately 4.9% of the outstanding shares.

Mountain Air Cargo, Inc. (MAC), a FedEx air cargo feeder airline, has successfully launched the world's first C408 SkyCourier route between Tallahassee and Orlando on January 3, 2023. This addition to MAC's fleet enhances its capacity, with plans to acquire a total of eight C408 SkyCouriers by year-end. The aircraft can carry up to 6,000 pounds, doubling the capacity of the C208 Caravan. MAC's partnership with FedEx continues to thrive, as it marks 40 years of operations. The C408 SkyCourier not only bolsters freight capabilities but also promotes career growth for pilots in the expanding air cargo sector.

Air T, Inc. (NASDAQ:AIRT) announced its fiscal Q3 results for the period ending December 31, 2022, reporting revenues of $61.4 million, a 35% increase year-over-year. Operating income rose to $135,000, up from $25,000. Adjusted EBITDA was $1.3 million, up from $0.5 million, while the loss per share improved to $0.21 from $0.44. However, total equity decreased by 12% to $22.5 million. The company highlighted growth in its aviation segments, particularly in air cargo and commercial jet engine parts, despite rising corporate overhead costs.

Air T, Inc. (NASDAQ:AIRT) reported a strong fiscal second quarter ended September 30, 2022, with revenues of $60.7 million, up 40% year-over-year. Adjusted EBITDA reached $2.3 million, compared to $1.1 million in the prior year. However, operating income fell to $0.2 million, down $0.5 million from last year, and the company reported a loss per share of $0.43, compared to earnings of $2.62 in the same quarter last year. Total equity decreased by 7% to $23.9 million.

Air T, Inc. (NASDAQ:AIRT) reported impressive first-quarter results for the fiscal year ending June 30, 2022. Revenues soared to $50.9 million, up 38% year-over-year. Operating income increased to $0.8 million from a loss last year, and Adjusted EBITDA reached $1.5 million, improving from $0.3 million in the prior year. However, the company reported a loss per share of $0.50, contrasting with a gain of $0.10 from the previous year. Total equity dropped to $25.1 million, a 2% decrease since March 31, 2022.