Air Transport Services: 1Q Earnings Snapshot

WILMINGTON, Ohio (AP) _ Air Transport Services Group Inc. (ATSG) on Tuesday reported first-quarter profit of $22.7 million.

The Wilmington, Ohio-based company said it had profit of 25 cents per share. Earnings, adjusted for one-time gains and costs, were 37 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The air cargo company posted revenue of $348.2 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $306 million.

Air Transport Services shares have fallen nearly 4% since the beginning of the year. The stock has increased nearly 7% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ATSG at https://www.zacks.com/ap/ATSG