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Air Transport Services Group ATSG is scheduled to report third-quarter 2024 results on Nov. 8 before market open.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
ATSG has a mixed earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missing twice. The average miss is 7.70%.
Air Transport Services Group, Inc Price and EPS Surprise
Air Transport Services Group, Inc price-eps-surprise | Air Transport Services Group, Inc Quote
The Zacks Consensus Estimate for the company’s soon-to-be-reported quarter’s earnings has remained flat at 19 cents per share in the past 60 days.
Air Transport Services Group’s top-line performance is expected to have been bolstered by an increased demand scenario in the September-end quarter. The Zacks Consensus Estimate for revenues is pegged at $509.8 million, which indicates a rise of 4.4% from third-quarter 2023 actuals.
Our estimate for ACMI (aircraft, crew, maintenance, and insurance) Services indicates an increase of 4.2% quarter over quarter, while cargo aircraft management (CAM) is anticipated at $110.9 million.
The company’s robust cost-cutting initiatives are also expected to have boosted its bottom line in the to-be-reported quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Air Transport Services Group this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Air Transport Services Group has an Earnings ESP of 0.00% and a Zacks Rank #2 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
ATSG’s Q2 Highlights
Quarterly earnings (excluding 8 cents from non-recurring items) of 19 cents per share surpassed the Zacks Consensus Estimate of 16 cents but plunged 66.7% year over year. Customer revenues (derived after eliminating internal revenues from total revenues) of $488.4 million missed the Zacks Consensus Estimate of $512.3 million and fell 7.7% year over year.
ATSG primarily operates through the following reporting segments: CAM and ACMI Services. Revenues from ACMI Services decreased 7.7% year over year to $338.2 million. Revenues from CAM and other operations declined 6.2% and 11.9% to $104.5 million and $97.64 million, respectively.
Q3 Performances of Other Transportation Companies
Delta Air Lines DAL reported third-quarter 2024 earnings (excluding 47 cents from non-recurring items) of $1.50 per share, which fell short of the Zacks Consensus Estimate of $1.56. Earnings decreased 26.11% on a year-over-year basis due to high labor costs.