Air Transport Services Grp Inc Stock Price, News & Analysis

Air Transport Services Group (ATSG) will host an investor conference call on November 4, 2022, at 10 a.m. Eastern time to discuss its third quarter 2022 financial results ending September 30, 2022. The earnings release will be available on November 3, 2022, after market close. Participants must register through a provided link to receive dial-in information. The call can be accessed live and in replay via webcast on ATSG's website, along with supporting slides.

Air Transport Services Group (ATSG) announced the election of Jeffrey A. Dominick to its Board of Directors effective September 26, 2022. Dominick, a former Board member from 2008 to 2012, brings significant expertise in aircraft acquisition and freighter conversions. His return restores the Board's size to ten members following the retirement of Rich Baudouin in April 2022. Dominick is expected to be nominated for a full term at the May 2023 annual meeting. ATSG remains a leading provider in aircraft leasing and air transportation services.

Air Transport Services Group (ATSG) will present a webcast at the Global Transportation & Sustainable Mobility Conference on September 7, 2022, at 3 p.m. ET. Cowen analyst Helane Becker will lead a discussion with ATSG's CEO Rich Corrado, CFO Quint Turner, and VP Matt Fedders, focusing on the company’s business model and growth strategy in converted freighter aircraft and dedicated passenger transport services. The live audio webcast will be available on ATSG's website for 10 days after the event.

Air Transport Services Group (ATSG) reported a 24% increase in revenue for Q2 2022, totaling $510 million. However, GAAP earnings dropped to $54 million from $80 million due to previous pandemic relief grants. Adjusted earnings per share rose to $0.59. ATSG expects a record $640 million in adjusted EBITDA for 2022, driven by leasing growth, despite inflation-related cost increases. The company plans to lease a record 18 freighters in 2023, with strong demand anticipated for its express-package delivery services.

Air Transport Services Group (ATSG) will host an investor conference call on August 5, 2022, at 10 a.m. Eastern time to discuss its financial results for Q2 ending June 30, 2022. The earnings release will be issued on August 4, 2022, after market close. Participants must register here. Webcast access and replays will be available on ATSG’s website.

ABX Air, a subsidiary of Air Transport Services Group, Inc. (ATSG), has appointed Patrick Fluegeman as its new Chief Operating Officer, effective July 1, 2022. Fluegeman has been with ABX Air since 2016 and has held various roles, demonstrating strategic leadership and critical business acumen. His efforts have led to growth opportunities for the company. ABX Air specializes in cargo airline operations, offering flexible solutions to e-commerce and express delivery sectors. This leadership change signifies a continued focus on operational excellence and customer relations.

On a virtual meeting, stockholders of Air Transport Services Group, Inc. (ATSG) re-elected nine directors to the Board. Key outcomes included the ratification of Deloitte & Touche LLP as auditors for fiscal 2022, approval of executive compensation for 2021, and amendments to the 2015 Long-Term Incentive Plan. A stockholder proposal for special meeting rights was rejected. The directors re-elected for one-year terms were Phyllis J. Campbell, Richard F. Corrado, and others. Full results will be reported in a Form 8-K with the SEC.

GA Telesis and Air Transport Services Group (ATSG) announced a partnership to establish a 72,000 sq. ft. Specialized Procedures Aeroengine Hospital (SPAH) at Wilmington Air Park, Ohio. Projected to open in September 2022, the facility aims to service over 200 aircraft engines annually, particularly from General Electric and CFM International. This investment will create 50 jobs and enhance the local economy, supported by a 1.3% seven-year Job Creation Tax Credit from the Ohio Tax Credit Authority.

Air Transport Services Group (Nasdaq: ATSG) reported strong Q1 2022 results with revenues of $486 million, a 29% increase year-over-year. GAAP earnings rose 18% to $50 million, and Adjusted Earnings Per Share reached $0.56, nearly tripling from $0.20. Notable growth in freighter leasing and passenger operations was highlighted, driven by 86 leased 767 freighters and substantial new customer orders for aircraft conversions. ATSG projects $640 million in Adjusted EBITDA for 2022, with a capital investment plan of $590 million.