Atlas Air: 1Q Earnings Snapshot

PURCHASE, N.Y. (AP) _ Atlas Air Worldwide Holdings (AAWW) on Wednesday reported a first-quarter loss of $29.7 million, after reporting a profit in the same period a year earlier.

The Purchase, New York-based company said it had a loss of $1.15 per share. Earnings, adjusted for non-recurring costs, were 98 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The airplane leasing company and service provider posted revenue of $679.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $679 million.

Atlas Air shares have risen 14% since the beginning of the year. The stock has dropped 24% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAWW at https://www.zacks.com/ap/AAWW