Air Transport Services Group ATSG is scheduled to report third-quarter 2024 results on Nov. 8 before market open.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
ATSG has a mixed earnings surprise history, having surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missing twice. The average miss is 7.70%.
Air Transport Services Group, Inc Price and EPS Surprise
Air Transport Services Group, Inc price-eps-surprise | Air Transport Services Group, Inc Quote
The Zacks Consensus Estimate for the company’s soon-to-be-reported quarter’s earnings has remained flat at 19 cents per share in the past 60 days.
Air Transport Services Group’s top-line performance is expected to have been bolstered by an increased demand scenario in the September-end quarter. The Zacks Consensus Estimate for revenues is pegged at $509.8 million, which indicates a rise of 4.4% from third-quarter 2023 actuals.
Our estimate for ACMI (aircraft, crew, maintenance, and insurance) Services indicates an increase of 4.2% quarter over quarter, while cargo aircraft management (CAM) is anticipated at $110.9 million.
The company’s robust cost-cutting initiatives are also expected to have boosted its bottom line in the to-be-reported quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Air Transport Services Group this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
Air Transport Services Group has an Earnings ESP of 0.00% and a Zacks Rank #2 at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
ATSG’s Q2 Highlights
Quarterly earnings (excluding 8 cents from non-recurring items) of 19 cents per share surpassed the Zacks Consensus Estimate of 16 cents but plunged 66.7% year over year. Customer revenues (derived after eliminating internal revenues from total revenues) of $488.4 million missed the Zacks Consensus Estimate of $512.3 million and fell 7.7% year over year.
ATSG primarily operates through the following reporting segments: CAM and ACMI Services. Revenues from ACMI Services decreased 7.7% year over year to $338.2 million. Revenues from CAM and other operations declined 6.2% and 11.9% to $104.5 million and $97.64 million, respectively.
Q3 Performances of Other Transportation Companies
Delta Air Lines DAL reported third-quarter 2024 earnings (excluding 47 cents from non-recurring items) of $1.50 per share, which fell short of the Zacks Consensus Estimate of $1.56. Earnings decreased 26.11% on a year-over-year basis due to high labor costs.
Revenues of $15.68 billion surpassed the Zacks Consensus Estimate of $15.37 billion and increased 1.2% on a year-over-year basis, driven by strong air travel demand. Adjusted operating revenues (excluding third-party refinery sales) totaled $14.59 billion, flat year over year. This included the $380 million impact of the outage caused by CrowdStrike.
Norfolk Southern Corporation’s NSC third-quarter 2024 earnings (excluding $1.6 from non-recurring items) of $3.25 per share beat the Zacks Consensus Estimate of $3.10 and increased 22.6% year over year due to lower costs.
Railway operating revenues were $3.05 billion in the quarter under review, lagging the Zacks Consensus Estimate of $3.09 billion. The top line increased 2.7% year over year, with the Merchandise and Intermodal segments registering an improvement in revenues.
J.B. Hunt Transport Services’ JBHT third-quarter 2024 earnings of $1.49 per share outpaced the Zacks Consensus Estimate of $1.42 but declined 17.2% year over year.
Total operating revenues of $3.07 billion surpassed the Zacks Consensus Estimate of $3.04 billion but fell 3% year over year. The operating income for the September quarter decreased 7% year over year to $224.1 million.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
Norfolk Southern Corporation (NSC) : Free Stock Analysis Report
J.B. Hunt Transport Services, Inc. (JBHT) : Free Stock Analysis Report
Air Transport Services Group, Inc (ATSG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
