ATSG Q1 earnings decline; expands Amazon freighter deal, raises 2024 outlook

Air Transport Services Group, Inc.

2024-FY EPS reported $0.13 revenue$485,517,000

Q1 revenue $486M (-3% YoY); GAAP EPS $0.13 ($0.12 drop); adjusted EPS $0.16.
Agreed to operate ten additional 767 freighters for Amazon by end of 2024.
Commercial flying agreement with Amazon extended to May 2029, with 5-year mutual extension rights.
Amazon awarded 2.9 million new warrants; terms revised on existing warrants.
Generated $15M free cash flow in Q1; company raised 2024 financial outlook.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Air Transport Services Group, Inc. reported the first quarter ended March 31, 2024 results: revenue $486 million, EPS $0.13. Guidance raised.

Period: the first quarter ended March 31, 2024
Revenue: $486 million
EPS: $0.13
Guidance: raised
Result: reported results

Exact text from the filing

ATSG Reports First Quarter 2024 Results Raises 2024 Financial Outlook Expands and Extends Flying Agreement with Amazon WILMINGTON, OH, May 6, 2024 - Air Transport Services Group, Inc. (Nasdaq: ATSG), the leading provider of medium wide-body freighter aircraft leasing, contracted air transportation, and related services, today reported consolidated financial results for the first quarter ended March 31, 2024. Those results, as compared with the same period in 2023, were as follows: First Quarter Results • Revenues $486 million, down 3% • GAAP Earnings per Share (diluted) from Continuing Operations $0.13, down $0.12

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Source: SEC EDGAR

accession 0001437749-24-014847

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