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Atlas Air Worldwide Updates Outlook, Q3 Profit Misses Estimates; Stock Plunges

Atlas Air Worldwide Holdings, Inc. (AAWW) announced the company now anticipates full-year 2019 revenue of approximately $2.75 billion; adjusted EBITDA of approximately $500 million; and adjusted net income, including a benefit, to be about 60-65 percent of 2018 adjusted net income. Analysts polled by Thomson Reuters expect the company to report revenue of $2.86 billion.

Third-quarter adjusted income per share from continuing operations was $0.37, compared to $1.54, a year ago. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.02, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter operating revenue was $648.54 million compared to $656.61 million, previous year. Analysts expected revenue of $699.08 million, for the quarter.

Shares of Atlas Air Worldwide were down nearly 11% in pre-market trade on Wednesday.

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