Overview
Air T fiscal Q2 revenue falls 21% yr/yr, reflecting decreased component sales at Contrail
Operating income for fiscal Q2 rises to $5.5 mln, driven by improved segment performance
Company plans acquisition of Rex Regional Airlines, pending court approval
Outlook
Company did not provide specific guidance for future quarters or full year in press release
Result Drivers
PARKED AIRCRAFT - Revenue in Overnight Air Cargo segment decreased due to increased parked aircraft affecting flight admin fees
DEICING TRUCK SALES - Ground Support Equipment segment revenue fell due to fewer deicing truck sales, but improved margins boosted adjusted EBITDA
COMPONENT SALES DECLINE - Commercial Aircraft, Engines and Parts segment revenue decreased due to lower component sales at Contrail
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | $64.2 mln | ||
Q2 EPS | $1.61 | ||
Q2 Adjusted EBITDA | $7.9 mln | ||
Q2 Operating Income | $5.5 mln |
Press Release: ID:nACSyFp1Ca
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)