Air Transport Services Group (ATSG) Tops Q4 EPS by 14c, Revenues Beat

Air Transport Services Group (NASDAQ: ATSG) reported Q4 EPS of $0.56, $0.14 better than the analyst estimate of $0.42. Revenue for the quarter came in at $403.35 million versus the consensus estimate of $361.59 million.

Joe Hete, Chief Executive Officer of ATSG, said, "2019 was very productive and profitable for ATSG and its family of companies, excluding warrant effects. We successfully integrated Omni Air, our November 2018 acquisition, and expanded its passenger fleet, leading to better than expected returns from that investment. Demand for our cargo aircraft and flight operations was strong, due in large part to more aircraft and more flight operations for Amazon. We are optimistic that 2020 will be just as good, and project a strong increase in Adjusted EBITDA as we expect to deploy 8-10 more 767 converted freighters for customers."

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