Air T Stock Price, News & Analysis

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.

Ashland Place Finance has successfully closed an engine facility financing deal involving four CFM56 engines leased to Cebu Air in the Philippines and TUI Airways in the UK. This partnership with Crestone Air Partners is significant for enhancing Ashland's commercial aviation financing capabilities. Both companies express optimism about the collaboration, aiming to provide tailored solutions and capital support to the aviation sector.

Air T, Inc. (NASDAQ:AIRT) has formed Crestone Air Partners, a wholly owned subsidiary dedicated to trading, leasing, and managing commercial aviation assets. With over 100 years of combined industry experience, Crestone supports a previously announced $100 million equity deployment joint venture, with potential for an additional $300 million. The unit will focus on acquiring mid-to-end of life commercial jets and engines, offering competitive leasing terms and a complete lifecycle solution. This strategic move aims to enhance value for investors and clients.

Air T, Inc. (NASDAQ:AIRT) reported a 1.1% year-over-year revenue increase, totaling $177.1 million for the fiscal year ending March 31, 2022. Operating income rose significantly to $8.8 million, recovering from a previous loss. Adjusted EBITDA improved to $11.4 million, reversing a $1.3 million loss in the prior year. Net income per share was $3.79, compared to a loss of $2.53 per share previously. Total equity surged by 68% to $24.7 million, reflecting enhanced financial health. Key segments like overnight air cargo and commercial jet engines showed positive growth, despite challenges in the aviation ground equipment segment.

Air T, Inc. (NASDAQ:AIRT) reported a Q3 FY2022 revenue of $45.4 million, an 18.6% decline from the previous year. Operating income dropped to $25,000, down from $1.1 million in Q3 last year. The company reported a loss per share of $0.44, reversing from a profit of $0.73. Despite the decrease in revenue, total equity increased by 44.9% to $21.3 million. Notably, the Overnight Air Cargo segment saw a 12% revenue increase, while Aviation Ground Equipment revenues fell 27%.

Air T, Inc. (NASDAQ:AIRT) announced the record and payment dates for its Alpha Income Preferred (AIP) securities (NASDAQ:AIRTP) for the years 2022 and 2023. AIP holders will receive cash distributions of $0.50 per share, equivalent to an 8.0% annual rate based on par value. Key payment dates include February 15, May 16, August 15, and November 15 for 2022, and similar dates in 2023. Established in 1980, Air T focuses on air cargo, aviation support equipment manufacturing, and aircraft asset management, aiming to enhance cash flow and stakeholder value.

Air T, Inc. (NASDAQ:AIRT) reported fiscal second-quarter results for the period ending September 30, 2021, showing significant growth with revenues hitting $43.2 million, a 21% increase year-over-year. Operating income improved to $0.7 million, up from a loss of $3.7 million in the prior year, while Adjusted EBITDA reached $1.1 million, a recovery from a loss of $2.7 million. Earnings per share stood at $2.62, contrasting last year's loss of $1.01. Total equity surged by 56.5% to $23.0 million.

Air T, Inc. (NASDAQ:AIRT) reported fiscal Q1 2022 results, with revenues of $36.9 million, unchanged from the previous year. The operating loss improved to $4,000 from $266,000 year-over-year. Adjusted EBITDA profit increased to $0.3 million from $87,000. Earnings per share reached $0.10, a recovery from a loss of $0.29 in the same quarter last year. Total equity rose by 1.4% to $14.9 million. Positive signs were noted in the Commercial Jet Engines segment, amid ongoing recovery from the pandemic.

Air T, Inc. (NASDAQ:AIRT) reported fiscal year results ending March 31, 2021, revealing significant challenges due to the COVID-19 pandemic. Revenues fell by 26% to $175.1 million, leading to an operating loss of $9.2 million. Adjusted EBITDA also decreased to a loss of $1.3 million, contrasting with a profit of $9.0 million the previous year. Shareholders faced a loss per share of $2.53, a stark decline from income per share of $2.74 in fiscal 2020. Total equity decreased by 41.2% to $14.7 million.