Air T, Inc. ( (AIRT) ) has released its Q3 earnings. Here is a breakdown of the information Air T, Inc. presented to its investors.
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Air T, Inc., headquartered in Charlotte, NC, operates a diverse portfolio of businesses in the aviation sector, including overnight air cargo, ground equipment sales, commercial jet engines and parts, and other corporate ventures.
In its latest earnings report, Air T, Inc. announced a significant growth in revenue and profitability for the third quarter of fiscal year 2025, ending December 31, 2024. The company celebrated the 25th anniversary of its business unit, Contrail, a pivotal contributor to its long-term growth.
The company posted revenues of $77.9 million, marking a 22% increase compared to the previous year. Operating income was recorded at $1.8 million, a substantial improvement from last year’s operating loss. The adjusted EBITDA stood at $2.7 million, showcasing an impressive turnaround from a loss in the comparable period last year. Among its segments, the Commercial Jet Engines and Parts division led the surge with increased sales driven by demand for maintenance of existing aircraft fleets.
The Overnight Air Cargo segment saw a moderate revenue increase, while Ground Equipment Sales experienced a notable rise due to heightened sales of deicing trucks. However, the Corporate and Other segment faced challenges with increased losses due to higher health insurance claims.
Looking forward, Air T, Inc. remains cautiously optimistic about its growth trajectory, with management acknowledging the evolving market dynamics and expressing confidence in adapting to future challenges while hoping for a rebound in deicer sales and continued steady growth in digital revenues.
