Aar Corp Stock Price, News & Analysis

AAR CORP. (NYSE: AIR), based in Wood Dale, Illinois, has entered a distribution agreement with Cloud Cap Technology to enhance its presence in the Unmanned Aerial System (UAS) market. This partnership allows AAR to stock and sell TASE and Piccolo imaging payload and flight management systems, crucial for Intelligence, Surveillance, and Reconnaissance (ISR) missions. The collaboration is expected to serve a range of clients, including UAS manufacturers and government operators. AAR's Vice President highlights the adaptability of these products for various tactical missions.

AAR CORP. (NYSE: AIR) reported third quarter fiscal year 2023 sales of $521 million, a 15% increase from last year. GAAP diluted earnings per share (EPS) from continuing operations were $0.62, slightly down from $0.63 in Q3 FY2022. However, adjusted diluted EPS rose 19% to $0.75. Cash flow from operations was $17 million. The company acquired Trax, enhancing its software offerings with established, higher-margin services. Commercial sales surged 28%, although government sales dipped 3%. Gross profit margins increased to 18.1%, up from 17.8% last year.

AAR CORP. (NYSE: AIR) has acquired Trax USA Corp, a leading provider of aircraft MRO and fleet management software, enhancing its digital solutions for aftermarket customers. The acquisition aligns with AAR's strategy to expand its higher-margin services and is expected to positively impact Adjusted EPS in its first full year. Trax, founded in 1999, supports around 5,000 aircraft through comprehensive solutions that streamline maintenance and compliance. AAR plans to leverage its global relationships to foster Trax’s growth, creating synergies and opportunities for cross-selling products.

AAR CORP. (NYSE: AIR) appointed John W. Dietrich to its Board of Directors, effective immediately. Dietrich is the President and CEO of Atlas Air Worldwide, boasting over 30 years of aviation management experience. He has a strong background in airfreight, passenger airlines, and military service logistics. Dietrich's leadership is expected to enhance AAR's growth and industry capabilities, as noted by AAR's Chairman, John M. Holmes. His extensive experience includes roles in Atlas Air, where he previously served as COO, and legal background with United Airlines. Dietrich also holds leadership positions in various aviation associations.

AAR CORP. (NYSE: AIR), based in Wood Dale, Illinois, will disclose its financial results for Q3 fiscal 2023 on March 21, 2023. The reporting period ends February 28, 2023. A conference call is scheduled for the same day at 3:45 p.m. CT, where management will discuss the results. Interested participants can register online to access the call. A replay will be available shortly after the event for about seven days. AAR is a leading provider of aviation services, operating in over 20 countries, and supports both commercial and government sectors through Aviation and Expeditionary Services.

AAR CORP. (NYSE: AIR) announced the appointment of Tracey Patterson as Vice President and Chief Human Resources Officer, effective February 23, 2023. Patterson, who previously led Global HR Operations at Accenture, brings over a decade of experience in workforce development and employee engagement. Her role will oversee global Human Resources and Communications, enhancing AAR's HR strategy for future growth. CEO John M. Holmes expressed excitement about her joining the leadership team, noting her expertise will significantly contribute to the company's ongoing commitment to employee empowerment and operational excellence.

AAR CORP. (NYSE: AIR) announced the appointment of John M. Holmes as Chairman of the Board, succeeding David P. Storch, who served for 18 years. Holmes, who has been with AAR since 2001 and CEO since 2018, will retain his role as President and CEO. Under his leadership, the company has notably increased sales and profitability, even amid the COVID-19 pandemic. The transition marks a significant milestone as Holmes aims to drive growth while upholding AAR's core values.