Atlas Air Projects Earnings Growth In Q3 & FY20 - Quick Facts

(RTTNews) - Atlas Air Worldwide Holdings, Inc. (AAWW) said it expects revenue of just over $3 billion and adjusted EBITDA of approximately $750 million in 2020. The company expects approximately 50% of its full-year 2020 adjusted net income to occur in the second half of the year.

For the third quarter, the company expects revenue of nearly $800 million and adjusted EBITDA of about $170 million. The company expects that its third-quarter adjusted net income will represent approximately 20% of its full-year 2020 adjusted net income.

Second quarter adjusted net income per share was $4.71 compared to $0.17, a year ago. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $2.13, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenue increased to $825.3 million from $663.9 million. Volumes increased to 84,966 block hours compared to 80,282. Analysts expected revenue of $754.55 million for the quarter.

"These positive results were primarily driven by the team capitalizing on strong demand and higher yields in our commercial charter and South America businesses. We also continued to provide the U.S. military with essential services and our ACMI customers flew well above their minimum guarantees," CEO John Dietrich said.

Shares of Atlas Air Worldwide were up 6% in pre-market trade on Thursday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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