Exchange Income Corp. Q3-2017 Earnings & Price Target Update
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Exchange Income Corp. operates in two segments, Aviation and Manufacturing. The Aerospace & Aviation segment consists of the operations by Perimeter Aviation, Keewatin Air, Calm Air International, Bearskin Lake Air Service, Custom Helicopters referred to as their legacy airlines and Regional One, Provincial Aerospace, CarteNav and JAS in the aircraft maintenance and leasing segment. The Manufacturing segment consists of the operations by Jasper Tank, Overlanders Manufacturing, Water Blast Manufacturing, Stainless Fabrication, WesTower Communications and Ben Machine Products. Exchange Income Corp. shares were added to the S&P TSX Composite Index as of Dec-2016.
The five legacy airlines provide fixed and rotary wing, scheduled, charter, cargo, and medevac and two diversified commercial aircraft business that provide parts, repair including leasing. By segment aviation contributes 80% of annual revenues, 20% is from manufacturing.
Aerospace & Aviation includes operations within the aerospace and aviation industries. In addition to scheduled passenger and cargo services, the Aerospace & Aviation segment includes maritime surveillance solutions, medevac transportation services, maintenance repair and overhaul, fixed base operations services and the sale and lease of aftermarket aircraft and parts. These services are provided by: Calm Air, Perimeter, Keewatin, Bearskin, and Custom Helicopters referred to as legacy airlines. Regional One supplies regional airline operators around the world with various after-market aircraft, engines, and component parts. Provincial provides scheduled airline and charter service in Newfoundland and Labrador, Quebec, New Brunswick and Nova Scotia and through its aerospace business Provincial designs, modifies, maintains and operates custom sensor equipped aircraft. Provincial has maritime surveillance and support operations in Canada, the Caribbean and the Middle East. Together all of these operations make up the Aerospace & Aviation segment.
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