Atlas Air Worldwide Holdings Earnings: Here’s Why Investors Like These Results
Atlas Air Worldwide Holdings Inc. (NASDAQ:AAWW) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 6.67%.
Atlas Air Worldwide Holdings Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 56.86% to $0.22 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Rose 5.01% to $377.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Atlas Air Worldwide Holdings Inc. reported adjusted EPS income of $0.22 per share. By that measure, the company beat the mean analyst estimate of $0.16. It missed the average revenue estimate of $389.37 million.
Quoting Management: “Our first-quarter results and initiatives demonstrate the benefits of a modern, efficient fleet, diversified business mix and solid balance sheet in a challenging business environment,” said William J. Flynn, President and Chief Executive Officer.
Key Stats (on next page)…