Aviation services provider Air T's Q3 revenue falls on lower component sales

Reuters02-14 06:10

Aviation services provider <a href="https://laohu8.com/S/AIRT">Air T</a>'s Q3 revenue falls on lower component sales

Overview

American aviation portfolio's fiscal Q3 revenue fell 9% yr/yr
EPS for fiscal Q3 was $(0.91), down from $(0.47) last year

Outlook

Company did not provide specific financial guidance for future quarters in press release

Result Drivers

REX ACQUISITION - Acquisition of Rex Regional Airlines contributed $5.2 mln in revenue but incurred a net loss of $1.5 mln due to fixed costs and integration expenses
COMPONENT SALES DECLINE - Decrease in commercial aircraft segment revenue attributed to lower component sales at Contrail
GROUND SUPPORT EQUIPMENT GROWTH - Segment revenue increased 8% due to higher sales of high-lift catering equipment

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Revenue		$71.10 mln
Q3 EPS		-$0.91
Q3 Adjusted EBITDA		$200,000
Q3 Operating Income		-$3.80 mln

Press Release: ID:nACSdHjfba

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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