Air T Stock Price, News & Analysis

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.

Air T, Inc. (NASDAQ:AIRT) has announced that its Warrants (NASDAQ:AIRTW) to purchase Alpha Income Preferred Securities (NASDAQ:AIRTP) will expire on August 30, 2021, without further extension. The expiration timeline leaves only 42 trading days for warrant holders to exercise their rights, which allows the purchase of Trust Preferred securities at $24.00, below its recent trading value of $25.00. Each Warrant grants the right to buy one-tenth of a share of AIP for $2.40. More information can be found in the company's prospectus on the SEC's website.

Air T, Inc. (NASDAQ:AIRT) announced the establishment of Contrail Asset Management (CAM) and Contrail JV II LLC (CJVII), aimed at acquiring and managing commercial jet aircraft assets. The new venture, capitalized with up to $408 million, includes significant equity commitments from Air T and three institutional partners. The initiative focuses on current-generation aircraft and engines, enhancing services for airline customers. The management team, recognized for expertise in aviation asset management, aims to build a scalable business amid post-pandemic recovery.

Air T, Inc. (NASDAQ:AIRT) reported financial results for Q3 2020, with revenues from continuing operations at $55.8 million, down 23.9% year-over-year. Operating income declined to $1.1 million, a $2.6 million drop from the previous year, while adjusted EBITDA was $1.3 million, down from $4.1 million. Despite challenges from COVID-19, the aviation ground equipment segment showed growth with revenues increasing 30% to $20.8 million. Total equity fell by 12.4% to $21.9 million as of December 31, 2020.

Air T, Inc. (NASDAQ:AIRT) announced the extension of its Warrants (NASDAQ:AIRTW) to purchase Alpha Income Preferred (AIP) securities (NASDAQ:AIRTP) through August 30, 2021. Originally set to expire on January 15, 2021, each Warrant allows the purchase of one-tenth of a share of AIP for $2.40, totaling $24.00 per full share, which is a 4% discount from the stated value of $25.00.

Prospectus details can be accessed via SEC's EDGAR or by contacting the company directly.