Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW) Q4 2015 Earnings Conference Call - Final Transcript
Feb 18, 2016 • 11:00 am ET
Good morning. My name is Michelle and I will be your conference operator today. At this time, I would like to welcome everyone to the Fourth Quarter Earnings Call for Atlas Air Worldwide. [Operator Instructions]
I would now like to turn the call over to Atlas Air, please go ahead.
Thank you, Michelle. And good morning, everyone. I'm Ed McGarvey, Vice President and Treasurer for Atlas Air Worldwide. Welcome to our Fourth Quarter 2015 Results Conference Call. Today's call be hosted by Bill Flynn, our President and Chief Executive Officer. Joining Bill is Spencer Schwartz, our Executive Vice President and Chief Financial Officer.
As a reminder, today's call is complemented by a slide presentation that can be viewed at Atlasair.com. You may find the slides by clicking on the link to presentations in the investor Information section of the site. As indicated on slide two, we'd like to remind you that our discussion about the company's performance today includes some forward looking statements within the meaning of the private securities litigation Reform Act of 1995. These statements relate to future events and expectations and they involve risks and uncertainties.
Our actual results or actions may differ materially from those projected in any forward looking statements. For information about risk factors related to our business, please refer to our 2014 form 10-K, as amended or supplemented by our subsequently filed sec reports. Any references to non-GAAP measures are meant to provide meaningful insights and are reconciled with GAAP in today's press release. And in the appendix that is attached to today's slides. You can also find these at atlasair.com.
During our question and answer period today, we'd like to ask participants to limit themselves to one principle question and one follow up question. So, that we may accommodate as many participants as possible. After we've gone through the queue, we'll be happy to answer any additional questions as time permits.
At this point, I'd like to turn the call over to Bill Flynn.
Thank you, Ed and good morning, everyone. And thank you for joining us today. Starting with Slide 3, we had a great year in 2015. We outperform the air freight market and we grew earnings substantially. We also positioned Atlas for earnings growth in 2016, even before the incremental accretion from our recently announced acquisition of Southern Air Hholdings, which we expect to close in the next few months.
We delivered adjusted earnings of $5.01 per share in 2015, up significantly from $3.72 in 2014. We continue to see good demand from our customers for our craft and services. Many of our customers are outperforming the market as well. In addition to the acquisition of Southern Air, we expect our total EPS in 2016 to increase by a low to mid single digit percentage over our 2015 adjusted EPS.
Slide 4 highlights the attractiveness of some of the Southern Air acquisition. It is strategically compelling, highly complimentary, immediately a creative and a foundation for growth. Subject to customary closing