earnings
confidence high
sentiment neutral
materiality 0.85
Air T Q1 revenue up 63% to $115.5M; Crestone closes Arena acquisition
AIR T INC
2027-Q1 EPS reported
-$5.86
revenue$115,461,000
- Revenue $115.5M (+63% YoY); operating loss $12.8M vs +$0.8M prior year; adjusted EBITDA $0.8M (-45%).
- Crestone acquired Arena Aviation Capital for $33.9M ($21.7M cash + $12.2M contingent); Blue Owl invested $10M for 10.25% preferred; Air T owns 83.9%.
- New Aviation Leasing segment; post-close 21-day: $1.4M fees, $3.5M operating loss, $0.3M adj EBITDA loss.
- Rex: revenue $55.9M, adj EBITDA $1.9M, operating loss $7.7M due to $8.8M D&A from $111.2M bargain purchase gain.
- Cash $21.7M; $42.4M credit line available; repurchased 840,855 shares (31% of outstanding) since Oct 2013.