WILMINGTON, Ohio (AP) _ Air Transport Services Group Inc. (ATSG) on Monday reported a second-quarter loss of $26.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Wilmington, Ohio-based company said it had a loss of 45 cents. Earnings, adjusted for one-time gains and costs, were 27 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The air cargo company posted revenue of $334.6 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $317.4 million.
Air Transport Services shares have dropped 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $21.40, an increase of almost 1% in the last 12 months.