Air T Inc (OQ:AIRT)
Business Focus: Courier Services
| Sector: Industrials | Industry: Air Freight & Logistics |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 11020 David Taylor Drive, Suite 305 CHARLOTTE NC 28262 |
| Tel: | N/A |
| Website: | https://www.airt.net |
| IR: | See website |
| Key People | ||
| Nicholas John Swenson Chairman of the Board, President, Chief Executive Officer | Brian Ochocki Chief Financial Officer, Principal Accounting Officer, Treasurer | |
| Business Overview |
| Air T, Inc. is a holding company with a portfolio of operating businesses and financial assets. The Company has four segments: Overnight air cargo, Ground equipment sales, Commercial jet engines and parts, and Corporate and other. Overnight air cargo segment operates in the air express delivery services industry. Ground equipment sales segment manufactures and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, military and industrial customers. Commercial jet engines and parts segment manages and leases aviation assets, supplies surplus and aftermarket commercial jet engine components, provides commercial aircraft disassembly/part-out services, commercial aircraft parts sales, and procurement services and overhaul and repair services to airlines. Corporate and other segment acts as the capital allocator and resources for other consolidated businesses. Further, the segment is also comprised of insignificant businesses. |
| Financial Overview |
| For the nine months ended 31 December 2023, Air T Inc revenues increased 24% to $214.2M. Net loss increased 57% to $5.1M. Revenues reflect Commercial Jet Engines and Parts - Domestic segment increase of 21% to $50.7M, Overnight Air Cargo-International segment increase from $0K to $689K. Higher net loss reflects Ground Equipment Sales segment loss totaling $97K vs. income of $3.1M. |
| Employees: | 584 as of Mar 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $167.03M as of Dec 31, 2023 |
| Annual revenue (TTM): | $288.53M as of Dec 31, 2023 |
| EBITDA (TTM): | $3.52M as of Dec 31, 2023 |
| Net annual income (TTM): | -$14.16M as of Dec 31, 2023 |
| Free cash flow (TTM): | $43.05M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $95.98M as of Dec 31, 2023 |
| Shares outstanding: | 2,821,504 as of Jan 31, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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