Atlas Air Worldwide reports third-quarter results

Atlas Air ©AirTeamImages

Atlas Air Worldwide Holdings, has posted third-quarter 2019 income from continuing operations, net of taxes, of US$60.0 million, compared with reported income of US$71.1 million in the third quarter of 2018.

Reported results in the third quarter of 2019 included an unrealized gain on outstanding warrants of US$83.2 million, partially offset by a special charge, net, of US$18.9 million, compared with an unrealized gain on outstanding warrants of US$46.1 million in the year-ago period.

On an adjusted basis, EBITDA totaled US$95.6 million in the third quarter this year, compared with US$123.9 million in the third quarter of 2018. Adjusted income from continuing operations, net of taxes, in the third quarter of 2019 totaled US$9.5 million, compared with US$43.8 million in the year-ago quarter.

“Our third-quarter performance was affected by the uncertain global macroenvironment, driven by ongoing tariff and trade tensions,” said Chairman and Chief Executive Officer William J. Flynn. “In addition to lower yields and volumes than we anticipated, labor-related service disruptions had a significant impact on our performance during the third quarter.

“Looking to the full year, we expect revenue of about US$2.75 billion, adjusted EBITDA of approximately US$500 million, and adjusted net income of approximately 60-65% of our 2018 adjusted net income.

Email Post to a Friend Email Post to a Friend