Plus   Neg

Atlas Air Worldwide Q4 Results Beat View - Quick Facts

Atlas Air Worldwide Holdings Inc. (AAWW) on Tuesday reported that its net income for the fourth quarter rose to $210.97 million from $209.45 million in the year-ago period. However, earnings per share declined to $2.73 from $6.71 last year on higher number of weighted average shares.

The latest quarter's results included an unrealized gain on outstanding warrants of $134.8 million, compared with a $130.0 million benefit related to the revaluation of deferred tax liabilities as a result of the U.S. Tax Cuts and Jobs Act and an unrealized gain on outstanding warrants of $23.7 million in the year-ago period.

On an adjusted basis, income from continuing operations for the quarter, net of taxes, increased to $87.00 million or $3.12 per share from $66.61 million or $2.43 per share in the year-ago quarter.

Operating revenue for the quarter grew to $764.96 million from $627.95 million in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $2.94 per share for the quarter on revenues of $755 million. Analysts' estimates typically exclude special items.

Looking ahead, the company said it expects to generate higher volumes, revenue, adjusted EBITDA and adjusted net income in 2019.

The company sees volumes for the year rising to around 340,000 block hours (with over 75% in ACMI and the balance in Charter), revenue of about $3.0 billion, and adjusted EBITDA of about $600 million. The company also anticipates its full-year adjusted net income will grow by a mid- to upper-single-digit percentage compared with 2018.

The Street expects the company to report earnings of $7.39 per share for the year on revenues of $2.95 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
MillerCoors LLC has filed a lawsuit against Anheuser-Busch Companies LLC, part of Anheuser-Busch InBev, alleging that Anheuser-Busch's ad campaigns associating MillerCoors' products, Miller Lite and Coor Light, with corn syrup is "false and misleading." During the Super Bowl, ABInBev ran an advertising campaign that mocked Miller Lite and Coors Light use corn syrup in brewing. Shares of Biogen Inc. are falling almost 28 percent in Thursday's trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer's drug, Aducanumab. The two Phase 3 trials, ENGAGE and EMERGE, are multi-center, randomized, double-blind, placebo-controlled, parallel-group studies designed to evaluate Aducanumab. The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018.
Follow RTT