Aar Corp Stock Price, News & Analysis

AAR (NYSE: AIR) announced the election of Ellen M. Lord to its Board of Directors, effective immediately. With extensive aerospace and defense experience, Lord previously served as Under Secretary of Defense for Acquisition and Sustainment and as CEO of Textron Systems. Her expertise is expected to enhance AAR’s leadership and strategic direction. John M. Holmes, President and CEO of AAR, expressed optimism about her contributions, highlighting her significant background in defense and acquisition.

AAR (NYSE: AIR) announces the recognition of its EAGLE Career Pathways program for aircraft maintenance technicians (AMTs) as a nationally registered apprenticeship by the U.S. Department of Labor. This designation enhances the program's appeal, aligning with AAR's workforce development strategy to address the shortage of AMTs. Furthermore, AAR has partnered with the American Association of Port Authorities to bolster apprenticeship opportunities, contributing to economic mobility and skill development in aviation.

AAR CORP. (NYSE: AIR) reported third quarter Fiscal Year 2021 consolidated sales of $410.3 million, down 26% year-over-year, primarily due to COVID-19 impacts. GAAP diluted EPS from continuing operations was $0.87, while adjusted diluted EPS was $0.37, excluding CARES Act support impacts. Sales to government customers rose 4%, comprising 49% of total sales, reflecting growth in this sector. Improved gross margins were noted, increasing to 21.0%, with a focus on cost efficiency bolstering operating margins to 9.7%.

AAR CORP. (NYSE: AIR) will announce its financial results for Q3 of fiscal year 2021, ending February 28, 2021, on March 23, 2021, after market close. A conference call discussing the results is scheduled for the same day at 3:45 p.m. CT. The call can be accessed via designated phone numbers for U.S. and international participants. A replay will be available until March 29, 2021. AAR provides aerospace and defense solutions globally and operates in two segments: Aviation Services and Expeditionary Services.

AAR CORP. reported second quarter Fiscal Year 2021 sales of $404 million, down 28% year-over-year. Net income from continuing operations was $14.4 million, or $0.41 per diluted share, compared to $20.1 million, or $0.57 per diluted share, in the previous year. Adjusted EPS was $0.31, excluding CARES Act support. Notably, government sales increased by 13%, comprising 52% of total sales due to new contracts. Gross profit margins improved to 17.2% from 15.3% a year ago. Cash flow from operations rose to $28 million, signaling effective cost management despite ongoing pandemic challenges.

AAR (NYSE: AIR) has renewed its partnership with Viasat (NASDAQ: VSAT) to deliver logistics, repair, and aftermarket management services for in-flight connectivity products. This agreement extends AAR’s role in managing Viasat's aftermarket inventory, which includes components like modems and antennas. The collaboration aims to enhance component availability for Viasat’s airline customers, supporting the growing demand for in-flight connectivity services. Both companies express optimism about the future of their partnership and the services provided.