AIRT
Air T, Inc.20.19
+0.69+3.54%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
54.57MP/E (TTM)
-Basic EPS (TTM)
-2.01Dividend Yield
0%Recent Filings
8-K
Swenson resigns for Rex CFO role
Air T director Travis Swenson resigned March 9, 2026, to become CFO of recently acquired Regional Express Holdings (Rex), also stepping down as Audit Committee Chair. No disagreements with company practices. Lead Independent Director Raymond Cabillot assumes Audit Chair immediately. Board continuity holds firm.
8-K
Crestone acquires Arena for $35M+
Air T's Crestone Air Partners closed its acquisition of Arena Aviation Capital's shares on March 8, 2026, paying over $35 million subject to post-closing adjustments and potential contingent payments. The deal expands Crestone's platform to 124 aircraft, 17 engines, and over $4 billion in assets under management across five countries. Combined operations boost global reach. Integration targets seamless synergies.
8-K
CFO Kennedy's new deal
Air T inked a new employment deal with CFO Tracy Kennedy effective February 27, 2026, bumping her base salary to $331,000 annually, rising to $360,000 in 2027 and $397,000 in 2028. Quarterly bonuses tie to 1-5 performance ratings, up to 90%+ of quarterly base at CEO discretion, yet pauseable in financial distress. Severance caps at 12 months' pay. Locks in key finance leader.
10-Q
Q3 FY2026 results
Air T's Q3 revenue dipped 8.7% y/y to $71.1M as commercial aircraft sales plunged 42% y/y to $18.8M from aging inventory, yet ground equipment jumped 8% y/y to $12.8M and digital solutions grew 25% y/y to $2.5M; new Rex regional airline added $5.2M but posted operating loss. Operating loss widened to $3.8M from $1.4M profit, with net loss to stockholders at $(0.91) per diluted share (2,703k shares). Equity investments delivered $4.2M income, lifting cash to $37.4M while total debt hit $194.2M including $22.5M Rex CFA debt (30-year term, 0% interest). Closed Rex Dec 2025 for $11M cash, recognizing $95.8M deferred bargain purchase gain. Integration risks loom large.
8-K
Q3 loss; Rex acquisition key
Air T reported Q3 fiscal 2026 revenues of $71.1 million, down 9% year-over-year, swinging to a $3.8 million operating loss from prior income while Adjusted EBITDA edged to $0.2 million. Key driver: December 18 acquisition of Rex Regional Airlines assets for $11 million cash consideration, yielding $106.9 million net assets and a preliminary $95.8 million bargain purchase gain. Rex posted $5.2 million revenue but $1.5 million net loss over 13 days amid integration costs. Rex integration risks loom large.
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