Air T posts Q3 operating loss of $3.8M; acquires Rex with $95.8M bargain gain

AIR T INC

2025-Q3 EPS reported $0.10 revenue$206,152,000

Revenue $71.1M (-9% YoY); operating loss $3.8M vs prior year income $1.4M; EPS $(0.91).
Acquired Rex Regional Airlines on Dec 18, 2025 for $11M; preliminary bargain purchase gain $95.8M.
Rex contributed $5.2M revenue (13 days) and $1.5M net loss in Q3.
Ground Support Equipment segment revenue up 8% to $12.8M; backlog doubles to $12.9M.
Commercial Aircraft segment revenue fell 42% to $18.8M; adj EBITDA swung to loss of $0.2M.

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