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Air Transport Services Group
Air Transport Services Group (ATSG) investor relations material
Air Transport Services Group has been acquired
Air Transport Services Group Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2024 earnings summary3 Mar, 2025
Executive summary
Fourth quarter 2024 revenue was $517 million, flat year-over-year, with GAAP EPS of $0.21 versus a loss of $0.24 in Q4 2023.
Adjusted EBITDA for Q4 rose to $162.2 million from $129.9 million, and free cash flow improved to $34.7 million from negative $65.5 million.
Full year 2024 revenue was $2.0 billion, down from $2.1 billion, with GAAP EPS of $0.40 compared to $0.82 in 2023.
Adjusted full-year EPS was $0.87, down from $1.46, and adjusted EBITDA was $549.4 million versus $561.6 million.
ATSG is being acquired by Stonepeak, with stockholder approval received and regulatory approval pending.
Financial highlights
Q4 adjusted pretax earnings were $39.8 million, up from $19.8 million; full year adjusted pretax earnings were $83.0 million, down from $146.7 million.
Q4 operating income was $41.8 million, up from $36.6 million; full year operating income was $127.8 million, down from $199.8 million.
Q4 net earnings from continuing operations were $14.7 million, compared to a loss of $15.6 million in Q4 2023.
Free cash flow for 2024 was $228.1 million, a significant turnaround from negative $111.8 million in 2023.
Segment performance
CAM leasing revenues fell 12% in Q4 and 6% for the year, with pretax earnings down 44% in Q4 and 46% for the year due to aircraft returns and lower maintenance revenue.
ACMI Services Q4 pretax earnings were $26 million, up from a $2 million loss, driven by additional customer-provided aircraft and higher rates; full year pretax earnings dropped to $1 million from $32 million due to reduced flying and higher costs.
CAM added nine 767-300 freighters in 2024, all placed with external customers; 14 CAM-owned aircraft were in or awaiting conversion at year-end.
Why did CAM pretax earnings decrease?
Assess ACMI's revenue block hours change.
Detail A330 freighter conversion plans.
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Air Transport Services Group
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Frequently asked questions
Air Transport Services Group Inc provides aircraft leasing, air cargo transportation, and related services to domestic and international clients. The company offers fleet services, including maintenance, repair, and charter operations for cargo and passenger aircraft. Air Transport Services Group serves logistics companies, airlines, and government agencies. The company is headquartered in Wilmington, Ohio, and its shares are listed on the NASDAQ.
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