Aar Corp Stock Price, News & Analysis

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.

Wood Dale, Illinois, July 20, 2022 - AAR CORP. (NYSE: AIR) announces the retirement of Chairman David P. Storch from the Board of Directors effective January 10, 2023. In his place, John M. Holmes, currently President and CEO, will assume the Chairman role after his reappointment following the 2022 annual meeting. Storch has been pivotal since joining the Board in 1989, fostering a culture of integrity and innovation. Holmes, with over two decades at AAR, aims to continue driving growth while upholding the company’s core values.

AAR CORP. (NYSE: AIR) has secured a 20-year Captains of Industry contract with the Defense Logistics Agency (DLA) to enhance global supply chain support for the U.S. Department of Defense and its allies. This strategic partnership aims to improve weapon system readiness through comprehensive supply chain strategies, including parts supply and maintenance services. As a result, AAR anticipates forming new OEM partnerships, which will facilitate better collaboration and operational efficiencies. This contract strengthens AAR's position in the defense sector and aligns with its commitment to provide cost-effective support.

AAR CORP. (NYSE: AIR), a key player in aviation services, plans to release its financial results for the fourth quarter of fiscal year 2022, which ended on May 31, 2022. The announcement will occur before the New York Stock Exchange opens on July 21, 2022. A conference call will follow at 7:30 a.m. Central time, accessible by prior registration. A replay will be available shortly after the call and remain accessible for approximately seven days. AAR operates globally, catering to both commercial and government sectors through its Aviation and Expeditionary Services segments.

AAR (NYSE: AIR) has been recognized as the top component source of repair (SoR) for 2021 by the NATO Support and Procurement Agency (NSPA) and the International Aerospace Management Company (IAMCO). This marks the fifth time AAR has received this honor, with the company’s Amsterdam facility playing a significant role over the past two decades. Earlier this year, AAR secured a 10-year extension for its component MRO agreement with IAMCO, continuing its vital support for the NATO E-3A AWACS fleet.