WILMINGTON, Ohio--(BUSINESS WIRE)--ATSG today announced the appointment of Greg Mays as President, responsible for leading ATSG's Commercial and Operations teams. ...

Group 1: Zacks Style Scores Overview - Zacks Style Scores are indicators that help investors select stocks likely to outperform the market in the next 30 days, rated from A to F based on value, growth, and momentum characteristics [2][6] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [3][4][5][6] Group 2: Value Score - The Value Score identifies stocks trading below their true value by analyzing ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [3] Group 3: Growth Score - The Growth Score evaluates stocks based on projected and historical earnings, sales, and cash flow to find those with sustainable growth potential [4] Group 4: Momentum Score - The Momentum Score assesses stocks based on price trends and earnings outlook changes to identify favorable buying opportunities [5] Group 5: VGM Score - The VGM Score combines all three Style Scores, providing a comprehensive indicator for investors seeking attractive value, growth forecasts, and promising momentum [6] Group 6: Zacks Rank and Performance - The Zacks Rank is a proprietary model that uses earnings estimate revisions to help investors build successful portfolios, with 1 (Strong Buy) stocks yielding an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [7][8] - There are over 800 stocks rated 1 or 2, making it essential for investors to utilize Style Scores to narrow down their choices [9][10] Group 7: Stock Example - Air Transport Services Group (ATSG) - Air Transport Services Group is a leading global provider of aircraft leasing and air cargo transportation, ranked 2 (Buy) on the Zacks Rank with a VGM Score of A [12] - ATSG is projected to have a year-over-year earnings growth of 31% for the current fiscal year, with an upward revision in earnings estimates and an average earnings surprise of 6.1% [13]

Investors interested in Transportation stocks should always be looking to find the best-performing companies in the group. Has Air Transport Services (ATSG) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Transportation sector should help us answer this question.Air Transport Services is a member of the Transportation sector. This group includes 126 individual stocks and currently holds a Zacks Sector Rank of #15. The Zacks Sector ...

Core Viewpoint - Air Transport Services (ATSG) has seen a slight increase in share price of approximately 0.7% since the last earnings report, outperforming the S&P 500 index [1] Group 1: Earnings Report and Market Reaction - The last earnings report for ATSG was about a month ago, and there is speculation on whether the positive trend in share price will continue or if a pullback is imminent [1] - Analysts have not made any earnings estimate revisions in the past two months, indicating a period of stability in expectations [2] Group 2: Performance Metrics - ATSG has a Growth Score of B, a Momentum Score of D, and an impressive Value Score of A, placing it in the top 20% for value investment strategy [3] - The aggregate VGM Score for ATSG is A, which is a key indicator for investors not focused on a single strategy [3] Group 3: Future Outlook - ATSG holds a Zacks Rank of 2 (Buy), suggesting an expectation of above-average returns in the upcoming months [4]

Air Transport Services Group, Inc. (ATSG) ) reported solid fourth-quarter 2024 results wherein both earnings and revenues surpassed the Zacks Consensus Estimate. Quarterly earnings per share (EPS) of 40 cents beat the Zacks Consensus Estimate of 35 cents and improved more than 100% year over year. Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Customer revenues (derived after eliminating internal revenues from total revenues) of $516.8 million beat the Zacks Consensus Estimate of $51 ...

Air Transport Services (ATSG) came out with quarterly earnings of $0.40 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this air cargo company would post earnings of $0.19 per share when it actually produced earnings of $0.13, delivering a surprise of -31.58%.Over the last four quar ...

Debt and Interest Rates - As of December 31, 2024, the Company had $971.1 million of fixed interest rate debt and $569.0 million of variable interest rate debt outstanding[325]. - A hypothetical 50% increase in interest rates would have resulted in a change in interest expense of approximately $20.6 million for 2024[325]. - A 50% increase in market interest rates would have decreased the book value of the Company's fixed interest rate convertible debt and Senior Notes by approximately $67.6 million[326]. - The Company has entered into interest rate swap instruments with combined notional values of $200.0 million as of December 31, 2024[324]. - The total debt obligations as of December 31, 2024, amount to $1,548.7 million, down from $1,762.3 million in 2023, representing a 12.1% reduction[433]. Financial Performance - Total revenues for 2024 were $1,961,971, a decrease of 5.2% compared to $2,070,611 in 2023[346]. - Operating income for 2024 was $127,803, down 36.0% from $199,832 in 2023[346]. - Net earnings for 2024 were $27,434, a decline of 54.5% compared to $60,327 in 2023[349]. - Basic earnings per share for continuing operations decreased to $0.42 in 2024 from $0.87 in 2023[346]. - The company reported a comprehensive income of $35,583 in 2024, down from $106,300 in 2023[349]. Assets and Equity - Total current assets increased to $351,582 in 2024 from $345,701 in 2023, reflecting a growth of 1.1%[344]. - Long-term debt decreased to $1,548,080 in 2024 from $1,707,572 in 2023, a reduction of 9.3%[344]. - Total stockholders' equity increased to $1,484,012 in 2024 from $1,368,702 in 2023, representing a growth of 8.5%[344]. - Cash and cash equivalents at the end of 2024 increased to $60,576 million from $53,555 million at the end of 2023, representing an increase of 5.7%[352]. - The total stockholders' equity at the end of 2024 was $1,484,012 million, an increase from $1,368,702 million at the end of 2023, reflecting a growth of 8.4%[354]. Expenditures and Cash Flow - Expenditures for property and equipment in 2024 were $331,006 million, significantly lower than $793,447 million in 2023, a decrease of 58.3%[352]. - Net cash provided by operating activities in 2024 was $532,815 million, down from $654,081 million in 2023, reflecting a decrease of 18.5%[352]. - The company reported a net cash used in investing activities of $304,705 million in 2024, compared to $765,929 million in 2023, a decrease of 60.2%[352]. - Principal payments on long-term obligations rose to $795,866 million in 2024 from $225,639 million in 2023, an increase of 252.5%[352]. - Proceeds from revolving credit facilities increased to $580,000 million in 2024, up from $335,000 million in 2023, a growth of 73.5%[352]. Mergers and Acquisitions - The Company entered into an Agreement and Plan of Merger with Stonepeak Nile Parent LLC on November 3, 2024, with anticipated benefits including synergies[12]. - The merger agreement with Stonepeak Nile Parent LLC was entered into on November 3, 2024, with a cash consideration of $22.50 per share for ATSG's common stock[495][496]. - The total funds required to consummate the Merger are expected to include equity financing from Parent and MergerCo and debt financing from multiple sources[504]. - Parent closed a private offering of $500 million of senior secured notes with a term of seven years at an interest rate of 7.25% on February 3, 2025[504]. - The Company recognized $8.3 million in transaction-related expenses during the year ended December 31, 2024[505]. Customer and Revenue Concentration - The Company’s three largest customers accounted for 76% of total revenues in 2024, with Amazon at 33%, DoD at 29%, and DHL at 14%[408]. - Accounts receivable from Amazon increased to $83,894,000 in 2024 from $74,509,000 in 2023, while DoD's accounts receivable decreased to $45,685,000[409]. - The Company expects to record customer incentive amortization of $31.9 million in 2025, decreasing to $8.6 million by 2029[404]. - The Company recorded a revenue adjustment of $258,750,000 due to the adoption of ASU 2020-06, impacting the convertible debt and additional paid-in capital[397]. - The company had revenues of approximately $784.9 million in 2024 from international operations, compared to $725.6 million in 2023, marking an increase of about 8.5%[493]. Pension and Benefits - The funded status of the Company's defined benefit pension plans was $508.4 million in total investment assets as of December 31, 2024[329]. - The accumulated benefit obligation for pension plans as of December 31, 2024, was $499.7 million, down from $522.0 million in 2023[459]. - The net periodic benefit cost for pension plans in 2024 was $4.3 million, compared to $36.9 million in 2023[460]. - The discount rate for crewmembers' pension plans increased to 5.70% in 2024 from 5.25% in 2023[462]. - The Company contributed $1.3 million to its defined benefit plans in both 2024 and 2023, with estimated contributions of approximately $1.9 million for pension plans and $0.3 million for healthcare plans in 2025[466]. Stock and Warrants - The fair value of stock warrants issued to Amazon was re-measured at $17.8 million as of December 31, 2024[340]. - The 2024 Subsequent Warrant issued on May 6, 2024, allows Amazon to purchase up to 2.9 million common shares at an exercise price of $12.9658 per share, vesting in four equal tranches[417]. - The expiration dates for 21.8 million existing vested warrants were extended from December 2025 to December 2029, resulting in a value re-measurement of $66.8 million[419]. - The total number of vested warrants increased from 21.8 million on December 31, 2023, to 22.5 million on December 31, 2024, while non-vested warrants increased from 2.9 million to 8.0 million[423]. - The fair value of stock warrant obligations was determined using a Black-Scholes pricing model, considering various assumptions including ATSG's common stock price and volatility[428]. Taxation - The company reported deferred tax assets of $119.5 million and deferred tax liabilities of $416.3 million as of December 31, 2024, resulting in a net deferred tax liability of $296.8 million[477]. - The total income tax expense from continuing operations for 2024 is $14.9 million, down from $24.5 million in 2023[478]. - The effective income tax rate for 2024 is 35.2%, an increase from 29.1% in 2023[478]. - The company has cumulative net operating loss carryforwards of approximately $93.8 million for federal income tax purposes as of December 31, 2024[476]. - Defined contribution plan expenses were $21.5 million in 2024, slightly down from $21.6 million in 2023[474].

Financial Performance - Revenues for Q4 2024 were $517 million, consistent with the same period in 2023[4] - GAAP Earnings per Share (diluted) from Continuing Operations for Q4 2024 were $0.21, compared to a loss of ($0.24) in Q4 2023[4] - Free Cash Flow for the full year 2024 was $228.1 million, a significant improvement from negative ($111.8) million in 2023[4] - Adjusted EBITDA for the full year 2024 was $549.4 million, down from $561.6 million in 2023[4] - Operating income increased to $41.797 million in Q4 2024, up 14.8% from $36.638 million in Q4 2023[15] - Net earnings for the year ended December 31, 2024, were $27.434 million, down 54.5% from $60.327 million in 2023[15] - Basic earnings per share for continuing operations were $0.23 in Q4 2024, compared to a loss of $0.24 in Q4 2023[15] - Adjusted pretax earnings (non-GAAP) for the three months ended December 31, 2024, were $39.811 million, compared to $19.806 million in the same period of 2023, reflecting a significant increase of 100.5%[21] - EBITDA from continuing operations (non-GAAP) for the year ended December 31, 2024, was $508.704 million, up from $499.162 million in 2023, indicating a growth of 1.1%[23] - Adjusted Earnings for Q4 2024 were $26,450,000, or $0.40 per share, up from $12,064,000, or $0.18 per share in Q4 2023[29] Cash Flow and Assets - Operating cash flows for Q4 2024 were $133.739 million, an increase of 4.4% from $127.988 million in Q4 2023[19] - Cash and cash equivalents at the end of Q4 2024 were $60.576 million, up from $53.555 million at the end of Q4 2023[19] - Net cash flows from operating activities for the year ended December 31, 2024, were $532.815 million, down from $654.081 million in 2023, a decrease of 18.5%[26] - Total assets as of December 31, 2024, were $3.894 billion, a slight increase from $3.882 billion in 2023[17] - Long-term debt decreased to $1.548 billion in 2024 from $1.708 billion in 2023, reflecting a reduction of 9.4%[17] - Total current liabilities decreased to $359.220 million in 2024 from $400.189 million in 2023, a reduction of 10.2%[17] Aircraft Operations and Leasing - The company added nine Boeing 767-300 freighter aircraft, all placed with external customers under long-term leases[5] - Aircraft leasing and related revenues decreased by 12% in Q4 2024, despite the addition of nine new freighter leases[7] - Revenue block hours for ATSG's airlines increased by 1% in Q4 2024 but declined by 6% for the full year compared to 2023[7] - Total aircraft leasing and related revenues for the three months ended December 31, 2024, were $114.657 million, down from $130.987 million in the same period of 2023, a decline of 12.4%[21] - ACMI services revenue for the three months ended December 31, 2024, increased to $377.761 million from $335.018 million in the same period of 2023, a growth of 12.7%[21] - The total number of Aircraft in Service increased from 130 (112 freighters and 18 passengers) as of December 31, 2023 to 148 (128 freighters and 20 passengers) as of December 31, 2024[33] - The company plans to increase the number of dry leased aircraft without Crew Management Integration (CMI) from 42 to 51 by December 31, 2024[34] - The number of aircraft available for lease rose from 4 as of December 31, 2023 to 5 as of December 31, 2024[33] - The total aircraft fleet increased from 139 to 147 from December 31, 2023 to December 31, 2024[34] - The company experienced a decrease in dry leased aircraft with CMI from 48 to 40 by December 31, 2024[34] Mergers and Acquisitions - ATSG is on track to close its acquisition by Stonepeak in the first half of 2025, with stockholder approval received on February 10, 2025[2] - The company incurred merger transaction fees of $8.284 million in Q4 2024, with no such fees reported in Q4 2023[15] - The company incurred transaction fees of $8.284 million related to the pending merger, which are not closely related to ongoing operating activities[23] Customer Incentives and Other - Customer incentives for Q4 2024 amounted to $6,660,000, up from $3,038,000 in Q4 2023, indicating a 119% increase[29] - The company reported a gain from warrant revaluation of $(695,000) in Q4 2024, compared to $(68,000) in Q4 2023[29] - Sustaining capital expenditures for the year ended December 31, 2024, were $112.946 million, down from $219.471 million in 2023, a reduction of 48.6%[26] - CAM's fourth quarter pretax earnings decreased by 44% to $12 million compared to $21 million in the prior-year quarter[7] - Earnings from Continuing Operations for Q4 2024 were $14,714,000, compared to a loss of $15,587,000 in Q4 2023, representing a significant turnaround[29]

WILMINGTON, Ohio, Feb. 13, 2025 /PRNewswire/ -- GA Telesis Engine Services, GATES SPAH, a joint venture between GA Telesis and Air Transport Services Group, Inc. (NASDAQ:ATSG) located in Wilmington, OH, is proud to announce a new agreement with GE Aerospace On-Wing Support (OWS) in Florence, KY near Cincinnati & Northern Kentucky International Airport (CVG). The agreement provides for on-wing maintenance offload services for GE Aerospace CF6 engines, and for CFM56 engines from CFM International, the 50/50 j ...

Air Transport Services Group, Inc. (ATSG) reported disappointing third-quarter 2024 results wherein both earnings and revenues missed the Zacks Consensus Estimate. Quarterly earnings per share (EPS) of 13 cents lagged the Zacks Consensus Estimate of 19 cents and plunged 59.4% year over year. Find the latest EPS estimates and surprises on ZacksEarnings Calendar.Customer revenues (derived after eliminating internal revenues from total revenues) of $471.3 million missed the Zacks Consensus Estimate of $507.9 m ...