Air Transport Services Group, a leading provider of medium wide-body aircraft leasing, contracted air transportation and related services, has reported consolidated financial results for the quarter ended March 31, 2019. Results as compared with the first quarter of 2018 include:
Customer revenues were US$348.2 million, up US$145.1 million, or 71%.
Omni Air International, acquired in November 2018, contributed US$135.8 million to external ATSG revenues, reflected in revenues of the ACMI Services segment.
GAAP Earnings from Continuing Operations were US$22.6 million, US$7.0 million higher than the prior period.
Adjusted Earnings from Continuing Operations (non-GAAP) increased 26% to US$26.0 million.
Adjusted EBITDA from Continuing Operations (non-GAAP) were US$113.8 million, up US$41.9 million, or 58%. Capital spending was US$91.9 million, up 16%.
Capital expenditures in the first quarter of 2019 included US$70.5 million for the purchase of four Boeing 767 aircraft and for freighter modification costs.
