Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading global provider of outsourced aircraft and aviation operating solutions, today announced second-quarter 2013 diluted earnings per share in line with expectations presented at the company’s investor-analyst day on May 30 and reaffirmed its full-year adjusted diluted earnings per share outlook of approximately $4.80.
For the three months ended June 30, 2013, adjusted net income attributable to common stockholders totaled $20.4 million, or $0.79 per diluted share, compared with $31.2 million, or $1.18 per diluted share, for the three months ended June 30, 2012.
On a reported basis, second-quarter 2013 net income attributable to common stockholders totaled $20.1 million, or $0.78 per diluted share, compared with $30.9 million, or $1.16 per diluted share, in the second quarter of 2012.
Free cash flow increased to $64.6 million in the second quarter of 2013 from $54.2 million in the second quarter of 2012.“Earnings in the second quarter of 2013 were driven by the strength of our ACMI operations, especially our new 747-8 freighters,” said William J. Flynn, President and Chief Executive Officer. “Our diversified business mix, with our expanding 767 service, growing CMI operations, and ongoing continuous improvement initiatives, enabled us to perform well in a quarter that was challenged by lower AMC Charter demand and softer AMC and Commercial Charter rates. “Reflecting our commitment to enhance shareholder value, we acquired an additional 2.3% of our outstanding common stock through our share repurchase program from May through July. Combined with the shares that we bought through the end of April, we have repurchased approximately 5.7% of our shares so far this year. “In addition, we are executing a strategic plan that leverages our core competencies. In July, we acquired our second and third 777 freighters for our Dry Leasing business. Each of our 777s was acquired with a long-term customer lease in place with a leading operator in the airfreight industry. These investments enhance our position in an attractive aircraft type, and they generate predictable, long-term revenue and earnings streams.”
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