Aviation services provider Air T'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
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