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WILMINGTON, Ohio (AP) — WILMINGTON, Ohio (AP) — Air Transport Services Group Inc. (ATSG) on Thursday reported fourth-quarter earnings of $42.7 million.
The Wilmington, Ohio-based company said it had profit of 50 cents per share. Earnings, adjusted for one-time gains and costs, came to 53 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The air cargo company posted revenue of $533 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $520.1 million.
For the year, the company reported profit of $198.6 million, or $2.28 per share. Revenue was reported as $2.05 billion.
Air Transport Services expects full-year earnings in the range of $1.85 to $2 per share.
Air Transport Services shares have fallen 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $24.90, a drop of almost 10% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ATSG">Zacks stock report on ATSG at https://www.zacks.com/ap/ATSG