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Air Transport Services beats Street 1Q forecasts

WILMINGTON, Ohio (AP) _ Air Transport Services Group Inc. (ATSG) on Wednesday reported first-quarter net income of $10 million.

The Wilmington, Ohio-based company said it had net income of 13 cents per share. Earnings, adjusted for one-time gains and costs, were 17 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The air cargo company posted revenue of $237.9 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $214.1 million.

Air Transport Services shares have climbed 17 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.73, a rise of 34 percent 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

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Keywords: Air Transport Services, Earnings Report