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SATS shares tumble after 1Q earnings miss as headwinds mount

Stanislaus Jude Chan
Stanislaus Jude Chan7/23/2019 04:03 PM GMT+08  • 2 min read
SATS shares tumble after 1Q earnings miss as headwinds mount
SINGAPORE (July 23): Airline gateway services and food solutions provider SATS has seen its share price tumble more than 9% since last week.
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SINGAPORE (July 23): Airline gateway services and food solutions provider SATS has seen its share price tumble more than 9% since last week.

On July 18, SATS posted a 14.4% drop in earnings to $54.7 million for the 1Q20 ended June – missing consensus estimates by a mile.

The disappointing results came on the back of weakening air cargo volumes, even as SATS was impacted by one-offs including the suspension of Jet Airways, the grounding of Boeing’s 737 Max aircraft, and credit provisions.

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