Aar Corp Stock Price, News & Analysis

AAR CORP. (NYSE: AIR) reported Q1 fiscal 2023 sales of $446 million, down 2% year-over-year from $455 million. GAAP diluted EPS increased to $0.62 from $0.31 in Q1 FY2022. Adjusted diluted EPS rose 17% to $0.61. The commercial sector saw a 10% sales increase, now comprising 66% of total sales, while government sales dropped 19% due to program completions. Gross profit margins improved to 18.4%, attributed to cost reduction efforts. The company also repurchased 0.5 million shares during the quarter, further strengthening shareholder value.

AAR CORP. (NYSE: AIR) will announce its first quarter fiscal 2023 financial results on September 22, 2022, after NYSE trading closes. The results will cover the period ending August 31, 2022. A conference call is scheduled for the same day at 3:45 p.m. Central time for discussions regarding the financial outcomes. Participants can register for the call and access the replay shortly after it concludes. AAR operates globally in aerospace and defense, providing services to commercial and government clients.

Air Industries Group (AIRI) reported its financial results for the second quarter and first half of 2022. Second quarter net sales decreased to $14.0 million, a 9% decline from $15.5 million in 2021 but improved 16% from the previous quarter. Gross profit was $2.4 million, slightly down from $2.6 million year-over-year, but up 17% quarter-over-quarter. The company experienced a net loss of $7,000 compared to net income of $239,000 in the prior year. For the six months, net sales totaled $26.1 million, an 11% decrease versus $29.2 million in 2021, with a net loss of $35,000.

AAR CORP. (NYSE: AIR) has secured a firm-fixed-price requirements contract from the U.S. Air Force to produce Next Generation All Aluminum Cargo Pallets. The contract, worth $173.5 million, includes an 18-month basic period and options extending over several years. AAR, known for its legacy 463L pallets, will manufacture the new design in Cadillac, Michigan, ensuring enhanced strength-to-weight performance for military and commercial aircraft. The company continues to lead in aviation services and supports various branches of the U.S. Armed Forces.

AAR CORP. (NYSE: AIR) has launched Fellowship Programs in collaboration with Vincennes University and Aviation Institute of Maintenance in Indianapolis to enhance the aviation maintenance technician workforce. These programs offer scholarships for students pursuing Airframe and Powerplant certifications while ensuring guaranteed employment at AAR after graduation. This initiative reinforces AAR's commitment to address the growing demand for aviation maintenance technicians, mirroring the industry's pilot shortage. The inaugural class of Fellows successfully graduated earlier this year in Rockford, Illinois.

AAR CORP. (NYSE: AIR) has secured a two-year contract, with two optional years, from the Norwegian Defence Logistics Organisation to supply commercial common parts for the Royal Norwegian Air Force's P-8A fleet of five aircraft.

This contract includes initial provisioning and ongoing re-provisioning of B-737 Next Generation aircraft parts, encompassing consumables and repairables. AAR will also oversee inspection, maintenance, and repair management. This partnership marks a significant step in AAR's strategic expansion into international government programs.

AAR CORP. (NYSE: AIR) has launched Airvolution^®, a customizable cloud-based repair cycle management tool, in collaboration with Textron Aviation Defense. This initiative aims to enhance efficiencies, reduce costs, and improve component availability in aircraft component repairs. Features include streamlined order management and enhanced analytics. AAR's Chief Digital Officer emphasized the commitment to developing digital technologies for customer operational improvements. This launch aligns with AAR's strategy to offer cutting-edge applications to its clients.

AAR CORP. (NYSE: AIR) reported a strong financial performance for Q4 FY2022, with sales rising to $476.1 million (up 9%) and GAAP diluted EPS increasing to $0.66, up from $0.41 in the prior year. Adjusted EPS was $0.72, a 53% increase year-over-year. For the full fiscal year, sales reached $1.82 billion (up 10%) with GAAP diluted EPS of $2.16, compared to $1.30 in FY2021. Despite a 13% decline in government sales due to program completions, commercial sales surged by 28%, reflecting recovery post-COVID-19. The company also maintained strong cash flow and a solid balance sheet.