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Atlas Air Worldwide Projects Improved Financial Performance In 2020

Atlas Air Worldwide Holdings, Inc. (AAWW) announced, for 2020, the company expects adjusted EBITDA to grow by a mid-teens percentage, and adjusted net income to increase by a high-30% to low-40% level compared with 2019. Excluding the impact of lower aircraft rent and depreciation, adjusted EBITDA and adjusted net income in 2020 will be comparable to or slightly higher than 2019 levels. For 2020, Atlas Air Worldwide expects revenue of approximately $2.8 billion.

For the first quarter of 2020, the company projects adjusted EBITDA of about $90 million, and adjusted net income ranging from approximately breakeven to a modest profit. Revenue is anticipated to be approximately $640 million.

For the fourth-quarter, on an adjusted basis, EBITDA totaled $204.7 million compared to $196.4 million, a year ago. On an adjusted basis, income per share from continuing operations was $3.80 compared to $3.12, prior year. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $2.99, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter operating revenue declined to $747.05 million from $764.96 million, previous year. Analysts expected revenue of $769.64 million for the quarter. Volumes totaled 84,488 block hours compared to 83,437, last year.

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