Air T reports FY24 adjusted EBITDA $5.6M vs. $6.0M last year

Reports FY24 revenue $286.8M, up 16% from last year. CEO Nick Swenson commented: “Our Fiscal Year 2024 was eventful and productive across many of Air T’s businesses. We believe our dynamism took a step up. Considering it is difficult to go deep into the most significant items, we offer you a long list to generate the gestalt: Air Cargo continued its wonderful growth in number and type of services provided to our largest customer; GGS initiated a new generation of customer-centric service and product while grinding through an unpredicted slowdown in global deicer industry sales; Contrail continued its expansion and experienced significant margin rebound in the back half; Crestone built out its team and drove asset growth, leading to one quarter of positive cash flow; Stratus continued to deliver strategic capabilities and generated investment ideas and sales channel expansion; our digital aviation groups drove notable revenue growth and new product offerings; and our investees Lendway and Cadillac made important strategic moves. Significantly, last year set us up for what we believe will be a productive and eventful FY2025.”