Air Transport Services Group (Nasdaq: ATSG) reported earnings on May 10. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Air Transport Services Group missed estimates on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted significantly and GAAP earnings per share grew significantly.

Margins improved across the board.

Revenue details
 Air Transport Services Group reported revenue of $145.5 million. The five analysts polled by S&P Capital IQ foresaw a top line of $156.1 million on the same basis. GAAP reported sales were 17% lower than the prior-year quarter's $175.1 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.11. The five earnings estimates compiled by S&P Capital IQ predicted $0.08 per share. GAAP EPS of $0.10 for Q1 were 150% higher than the prior-year quarter's $0.04 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 39.4%, 760 basis points better than the prior-year quarter. Operating margin was 9.5%, 70 basis points better than the prior-year quarter. Net margin was 4.4%, 280 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $165.9 million. On the bottom line, the average EPS estimate is $0.20.

Next year's average estimate for revenue is $678.0 million. The average EPS estimate is $0.79.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 275 members out of 326 rating the stock outperform, and 52 members rating it underperform. Among 79 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 74 give Air Transport Services Group a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Air Transport Services Group is buy, with an average price target of $8.60.

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