WILMINGTON, Ohio (AP) — WILMINGTON, Ohio (AP) — Air Transport Services Group Inc. (ATSG) on Monday reported third-quarter earnings of $17.2 million.
The Wilmington, Ohio-based company said it had profit of 24 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to 32 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The air cargo company posted revenue of $523.1 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $522.7 million.
Air Transport Services expects full-year earnings in the range of $1.50 to $1.70 per share.
Air Transport Services shares have fallen 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.27, a drop of 29% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ATSG at https://www.zacks.com/ap/ATSG