Aviation services provider Air T's Q2 revenue falls 21%
Air T reported a 21% year-over-year decline in fiscal Q2 revenue, primarily due to decreased component sales at Contrail. However, operating income rose to $5.5 million, aided by improved segment performance. The company plans to acquire Rex Regional Airlines, pending court approval. Revenue in the Overnight Air Cargo segment fell due to increased parked aircraft, while Ground Support Equipment revenue decreased from fewer deicing truck sales. No specific guidance for future quarters was provided in the press release.
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Overview
- Air T fiscal Q2 revenue falls 21% yr/yr, reflecting decreased component sales at Contrail
- Operating income for fiscal Q2 rises to $5.5 mln, driven by improved segment performance
- Company plans acquisition of Rex Regional Airlines, pending court approval
Outlook
- Company did not provide specific guidance for future quarters or full year in press release
Result Drivers
- PARKED AIRCRAFT - Revenue in Overnight Air Cargo segment decreased due to increased parked aircraft affecting flight admin fees
- DEICING TRUCK SALES - Ground Support Equipment segment revenue fell due to fewer deicing truck sales, but improved margins boosted adjusted EBITDA
- COMPONENT SALES DECLINE - Commercial Aircraft, Engines and Parts segment revenue decreased due to lower component sales at Contrail
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q2 $64.2
Revenue mln
Q2 EPS $1.61
Q2 $7.9 mln
Adjusted
EBITDA
Q2 $5.5 mln
Operatin
g Income
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
