Atlas Air: 2Q Earnings Snapshot
PURCHASE, N.Y. (AP) _ Atlas Air Worldwide Holdings (AAWW) on Thursday reported second-quarter net income of $86.9 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Purchase, New York-based company said it had net income of $1.61. Earnings, adjusted for non-recurring gains, were 17 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The airplane leasing company and service provider posted revenue of $663.9 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $721.3 million.
Atlas Air shares have risen 8% since the beginning of the year. The stock has dropped 32% in the last 12 months.