WILMINGTON, Ohio (AP) — WILMINGTON, Ohio (AP) — Air Transport Services Group Inc. (ATSG) on Monday reported first-quarter net income of $8.6 million.
On a per-share basis, the Wilmington, Ohio-based company said it had net income of 13 cents. Earnings, adjusted for non-recurring costs, were 16 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The air cargo company posted revenue of $485.5 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $484.2 million.
Air Transport Services expects full-year earnings in the range of 55 cents to 80 cents per share.
Air Transport Services shares have decreased 25% since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.25, a decline of 33% 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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