Air Transport Services Group (ATSG) Tops Q2 EPS by 1c

Air Transport Services Group (NASDAQ: ATSG) reported Q2 EPS of $0.16, $0.01 better than the analyst estimate of $0.15. Revenue for the quarter came in at $148.4 million versus the consensus estimate of $148.94 million.

Joe Hete, President and Chief Executive Officer of ATSG, said, “Our record first-half Adjusted EBITDA stems from a combination of improved airline operations and continued growth in aircraft leasing, leading us closer to full deployment of our available aircraft and reflects strong appetites from current and new customers for more of our highly efficient Boeing 767 freighters and related services."

The second quarter marked the commencement of a new four-year commercial agreement governing air network services that ATSG provides to DHL. It began with fifteen dry leases for Boeing 767 freighters dedicated to DHL through March 2019, currently operating in its U.S. network. DHL added a sixteenth dry lease, a 767-300 freighter delivered in June, and we expect to place two additional 767-300s, both under eight-year lease terms, during the fourth quarter of 2015. Accordingly, ATSG has purchased two more passenger-configured 767-300s for freighter conversion to meet DHL's requirement.

For earnings history and earnings-related data on Air Transport Services Group (ATSG) click here.

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