Atlas Air Worldwide Holdings (AAWW) Misses Q2 EPS by 8c

August 1, 2013 8:52 AM EDT
Atlas Air Worldwide Holdings (NASDAQ: AAWW) reported Q2 EPS of $0.79, $0.08 worse than the analyst estimate of $0.87. Revenue for the quarter came in at $403.6 million versus the consensus estimate of $409.33 million.

Atlas Air Worldwide Holdings still sees FY2013 EPS of $4.80, versus the consensus of $4.82.

“Earnings in the second quarter of 2013 were driven by the strength of our ACMI operations, especially our new 747-8 freighters,” said William J. Flynn, President and Chief Executive Officer.

“Our diversified business mix, with our expanding 767 service, growing CMI operations, and ongoing continuous improvement initiatives, enabled us to perform well in a quarter that was challenged by lower AMC Charter demand and softer AMC and Commercial Charter rates.

“Reflecting our commitment to enhance shareholder value, we acquired an additional 2.3% of our outstanding common stock through our share repurchase program from May through July. Combined with the shares that we bought through the end of April, we have repurchased approximately 5.7% of our shares so far this year.

“In addition, we are executing a strategic plan that leverages our core competencies. In July, we acquired our second and third 777 freighters for our Dry Leasing business. Each of our 777s was acquired with a long-term customer lease in place with a leading operator in the airfreight industry. These investments enhance our position in an attractive aircraft type, and they generate predictable, long-term revenue and earnings streams.”

For earnings history and earnings-related data on Atlas Air Worldwide Holdings (AAWW) click here.

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