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Air T (AIRT) investor relations material
Air T Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q2 FY2026 decreased 21% year-over-year to $64.2M, with net income attributable to stockholders rising to $4.4M from $2.5M in the prior year quarter.
Operating income for Q2 FY2026 was $5.5M, up from $3.6M in the prior year quarter.
Adjusted EBITDA for Q2 FY2026 was $7.9M, up from $5.0M year-over-year.
EPS increased to $1.61 from $0.91 year-over-year.
Contrail eliminated all bank debt and held $6.7M in cash at quarter-end.
Financial highlights
Q2 FY2026 revenue: $64.2M (down 21% YoY); six-month revenue: $135.0M (down 9% YoY).
Q2 net income attributable to stockholders: $4.4M (up from $2.5M YoY); six-month net income: $2.7M (up from $2.2M YoY).
Q2 diluted EPS: $1.61 (up from $0.91 YoY); six-month diluted EPS: $1.01 (up from $0.79 YoY).
Q2 operating income: $5.5M (up from $3.6M YoY); six-month operating income: $6.4M (up from $3.1M YoY).
Investment balance in equity method investees rose to $27.9M from $19.0M since March 31, 2025.
Outlook and guidance
Management expects continued uncertainty due to inflation, interest rates, and economic conditions, but believes liquidity is sufficient for at least 12 months.
Ground support equipment backlog increased to $12.9M from $6.2M YoY, indicating strong demand for upcoming periods.
Contrail is positioned to weather a potential softening in the secondary market for end-of-life and low green time engines.
Pending acquisition of Rex Regional Airlines, expected to close in December if approved.
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