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AIRT Nasdaq· Air T Inc.
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AIRT Nasdaq· Air T Inc.
Earnings report Q4 2023

AIRT Reports Modest Revenue Growth in Q3 Fiscal 2024

Segments of Revenue

  • Overnight Air Cargo: Revenue increased by $7.2 million (32.9%) to $29.0 million in the three-month period ended December 31, 2023, compared to the same quarter in the prior fiscal year.
  • Ground Equipment Sales: Revenue declined by $7.7 million (47.7%) to $8.4 million in the same period, reflecting a significant decrease in sales.
  • Commercial Jet Engines and Parts: Revenue grew by $2.4 million (11.1%) to $24.1 million, driven by increased demand for jet engines and parts.
  • Corporate and Other: Revenue increased by $0.5 million (28.3%) to $2.2 million, indicating growth in this segment.

Strengths

  • AIRT experienced overall revenue growth of $2.4 million (3.8%) in the third quarter of fiscal 2024 compared to the same quarter in the prior fiscal year.
  • The Overnight Air Cargo segment showed strong performance with a revenue increase of $7.2 million (32.9%), indicating robust demand for air cargo services.
  • The Commercial Jet Engines and Parts segment also contributed to the revenue growth, with a $2.4 million (11.1%) increase, driven by increased demand for jet engines and parts.

Challenges

  • The Ground Equipment Sales segment faced a significant decline in revenue, with a decrease of $7.7 million (47.7%). This decline may indicate challenges in the market for ground equipment sales.
  • AIRT's overall revenue growth of 3.8% in the third quarter of fiscal 2024 was relatively modest, suggesting potential challenges in achieving substantial revenue growth.

Noteworthy

  • AIRT's revenue growth in the Overnight Air Cargo segment can be attributed to increased demand for air cargo services, potentially driven by factors such as e-commerce growth and supply chain disruptions.
  • The Commercial Jet Engines and Parts segment also experienced growth, indicating a positive trend in the aviation industry.

Summary

AIRT reported modest revenue growth of $2.4 million (3.8%) in the third quarter of fiscal 2024 compared to the same quarter in the prior fiscal year. The Overnight Air Cargo segment showed strong performance with a significant revenue increase of $7.2 million (32.9%), potentially driven by increased demand for air cargo services. However, the Ground Equipment Sales segment faced a significant decline in revenue, indicating challenges in that market. Overall, AIRT's revenue growth was relatively modest, suggesting potential challenges in achieving substantial revenue growth.

Source documents

Form 10-Q  filed on Feb 12, 2024
126 pages scanned

Reference data

Company financials Q4 revenue 63.8M
Analyst estimates Q4 EPS missed by NaN%
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