Atlas Air Worldwide Boosts FY20 Revenue Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, Atlas Air Worldwide Holdings, Inc. (AAWW) raised its revenue guidance for the full-year 2020 and provided revenue outlook for the fourth quarter.

For fiscal 2020, the company now projects revenues of approximately $3.1 billion, up from the prior outlook of just over $3.0 billion.

"Looking to the fourth quarter, and subject to any material COVID-19 developments, we anticipate solid volumes and yields driven by continued e-commerce growth and end-of-the-year airfreight demand, coupled with the reduction of available cargo capacity in the market," said Chief Executive Officer John Dietrich.

For the fourth quarter, the company expects adjusted net income to grow approximately 25 percent on revenues of about $850 million.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $838.7 million for the quarter and $3.07 billion for the year.