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Why Atlas Air Worldwide (AAWW) Stock Is Up Today

NEW YORK (TheStreet) -- Atlas Air Worldwide (AAWW) was gaining 13.1%to $39.57 Thursday after beating analysts' estimates for earnings and revenue in the first quarter.

For the first quarter Atlas Air Worldwide posted earnings of 45 cents a share, beating analysts' estimates of 13 cents a share by 13 cents. Revenue grew 6.9% from the year-ago quarter to $403.26 million. Analysts surveyed by Thomson Reuters expected revenue of $371.68 million for the quarter.

"2014 is off to a good start, led by the initiatives we've undertaken to diversify our business mix, expand our aircraft and service offerings, develop new customers and position Atlas to take advantage of market opportunities," president and CEO William J. Flynn said in a press release.

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TheStreet Ratings team rates ATLAS AIR WORLDWIDE HLDG INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate ATLAS AIR WORLDWIDE HLDG INC (AAWW) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and poor profit margins."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • AAWW's revenue growth has slightly outpaced the industry average of 3.2%. Since the same quarter one year prior, revenues slightly increased by 3.9%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • ATLAS AIR WORLDWIDE HLDG INC's earnings per share declined by 39.6% in the most recent quarter compared to the same quarter a year ago. Earnings per share have declined over the last year. We anticipate that this should continue in the coming year. During the past fiscal year, ATLAS AIR WORLDWIDE HLDG INC reported lower earnings of $3.67 versus $4.88 in the prior year. For the next year, the market is expecting a contraction of 15.5% in earnings ($3.10 versus $3.67).
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Air Freight & Logistics industry. The net income has significantly decreased by 42.8% when compared to the same quarter one year ago, falling from $52.38 million to $29.96 million.
  • You can view the full analysis from the report here: AAWW Ratings Report

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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