Air Transport Services Group Inc (ATSG) News & EventsATSGAir Transport Services Group Inc

Thirteen option delistings on April 22nd

Option delistings effective April 22nd include PAYCOR HCM INC. (PYCR), PACTIV EVERGREEN INC. (PTVE), Nevro Corp (NVRO), American Software, Inc. (LGTY), Intevac, Inc. (IVAC), Intra-Cellular Therapies Inc (ITCI), Gritstone Bio, Inc. (GRTSQ), Enfusion (ENFN), ENDEAVOR GROUP HOLDINGS INC. (EDR), Air Transport Services Group Inc. (ATSG), Altair Engineering Inc (ALTR), ACCOLADE INC (ACCD), and VOXX International Corp (VOXX).

Air Transport Services reports Q4 adjusted EPS 40c, consensus 28c

Reports Q4 revenue $516.79M, consensus $521.36M. Mike Berger, CEO, said, "I'm proud of the entire ATSG team for their focus and dedication as we delivered strong fourth quarter results, as well as safe and reliable service. We saw continued momentum in our CAM leasing business, placing our ninth converted 767-300 freighter this year with an external customer in November. In ACMI Services, we saw improved profitability in the quarter, operating all ten of the additional aircraft recently provided by Amazon with sequential quarter improvements in both passenger and freighter hours flown. We once again generated significant free cash flow, with a total of $228 million for the year. We remain excited about our future with Stonepeak, and we are on track for closing in the first half of this year. We are enthusiastic about the opportunities we see ahead of us in 2025, including the delivery of our first four converted A330 freighters." As previously announced, ATSG entered into a definitive agreement to be acquired by Stonepeak, an alternative investment firm specializing in infrastructure and real assets. In light of the pending transaction, ATSG will not hold an earnings conference call or provide forward-looking guidance this quarter. The company is working to complete the transaction in the first half of 2025 and continues to make progress toward completing all conditions to closing. On February 10, ATSG received stockholder approval to be acquired by Stonepeak. At this time, ATSG is working to obtain approval from the U.S. Department of Transportation.

Air Transport Services pilots at Omni Air vote to authorize strikes

Teamsters pilots at Omni Air International have voted by an overwhelming 99% margin to authorize strikes. The vote grants the union's leadership the authority to call strikes when Omni or its parent company ATSG implement unilateral changes to working conditions without following the legally required process, the Teamers said in a statement, adding that this comes one year after pilots voted unanimously to call a strike once released from negotiations by the National Mediation Board. The 350 pilots are represented by the Airline Professionals Association-Teamsters Local 1224. "Over the past year, Omni and ATSG have committed a record number of contract violations and at least one unlawful status quo change. These abuses have worsened longstanding issues with scheduling, pay, and overall employment conditions. Omni plays a critical role in government and military transport, serving clients like the U.S. Department of Defense and U.S. Transportation Command. Omni also services commercial customers such as Air Canada, WestJet, the United Nations, and the National Football League, and charter brokers like Chapman Freeborn Airchartering," the Teamsters said. "The Teamsters urge Omni Air to honor the contributions of these pilots and stop implementing unlawful status quo changes," said Greg Unterseher, Director of the Teamsters Airline Division, Above the Wing. "Our pilots are dedicated professionals who deserve to be treated with dignity and respect. If the company refuses to recognize our rights, we are prepared to act accordingly."