Atlas Air Worldwide Q3 Profit Records Robust Growth

(RTTNews) - Atlas Air Worldwide Holdings, Inc. (AAWW) reported an increase in third-quarter profit to $119.5 million from $74.1 million in the prior year. On a per-share basis, earnings were $3.91, up from $2.78 last year. On an adjusted basis, earnings were $145.4 million or $4.88 per share.

On average, six analysts polled by Thomson Reuters expected the company to earn $4.32 per share.

Revenue for the third quarter surged to $1.016 billion from $809.89 million last year. Wall Street analysts were looking for revenue of $999.46 million. The higher average rate per block hour supported revenue growth. The global airfreight company said it flew 90,363 block hours in the third quarter compared to 90,528 last year.