Air Transport Services: Q2 Earnings Snapshot

WILMINGTON, Ohio (AP) — WILMINGTON, Ohio (AP) — Air Transport Services Group Inc. (ATSG) on Thursday reported second-quarter earnings of $38 million.

The Wilmington, Ohio-based company said it had profit of 49 cents per share. Earnings, adjusted for non-recurring costs, were 57 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The air cargo company posted revenue of $529.3 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $514.6 million.

Air Transport Services expects full-year earnings in the range of $1.65 to $1.80 per share.

Air Transport Services shares have declined 23% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.99, a drop of 39% 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