Air Transport Services (US:ATSG)2022-02-28 05:55Financial Highlights - GAAP EPS from Continuing Operations increased by $2.91 to $3.33 compared to 2020[9] - Customer Revenues increased by 10% to $1.73 billion in 2021[9] - Record Adjusted EBITDA increased by 9% to $541.1 million in 2021[9] - Adjusted EPS increased from $1.60 in 2020 to $1.66 in 2021[11] - Adjusted pre-tax earnings increased from $156 million in 2020 to $174 million in 2021[11] - Adjusted EBITDA increased from $497 million in 2020 to $541 million in 2021[11] - Adjusted Free Cash Flow was $400 million for the current trailing twelve months[9] Operational Highlights - Fifteen additional Boeing 767 customer leases were delivered in 2021[15, 25] - ATSG airlines operated fourteen additional 767 CMI freighters since YE2020[15] - CAM owned 121 aircraft at 12/31/2021, including thirteen being converted to freighters[23] - Eighty-five CAM owned freighters were leased to external customers, twelve more than a year ago[23] 2022 Outlook - Projected Adjusted EBITDA for 2022 is expected to increase by 18% to $640 million[9, 26]