Welcome to our dedicated page for AAR news (Ticker: AIR), a resource for investors and traders seeking the latest updates and insights on AAR stock.
AAR Corp. (NYSE: AIR), headquartered in Wood Dale, Illinois, is a prominent global aerospace and defense contractor with operations in over 20 countries and a workforce of more than 6,500 employees. AAR provides an extensive range of services and products tailored to the aviation and defense sectors. The company's core operations are divided into two main segments: Aviation Services and Expeditionary Services.
Aviation Services encompasses maintenance, repair, and overhaul (MRO) services, parts supply, and integrated solutions for both commercial and government customers. AAR is a leading provider of aftermarket support, ensuring the longevity and reliability of aircraft through advanced repair solutions and efficient supply chain management. The recent acquisition of Triumph Group's Product Support business has significantly enhanced AAR's capabilities in the MRO sector, particularly in the Asia-Pacific region.
Expeditionary Services involves providing mobility solutions, including airlift operations, for government and defense clients. This segment supports the U.S. Department of Defense and various international programs, ensuring the seamless movement of personnel and equipment.
AAR's entrepreneurial culture emphasizes innovation and efficiency, with a focus on being 'close-to-the-customer.' This approach has led to numerous strategic partnerships and contract extensions, such as the multi-year agreements with Philippine Airlines and Cebu Pacific, solidifying AAR's presence in the global aviation market.
Financially, AAR has demonstrated robust performance, with recent quarterly sales reaching $567 million, reflecting a 9% increase over the previous year. The company continues to prioritize growth through strategic acquisitions and expanding its service offerings, as evidenced by the recent extension of its V2500 engine component distribution agreement with Sumitomo Precision Products.
AAR's commitment to environmental, social, and governance (ESG) practices has also been recognized, earning accolades such as America's Best Climate Leaders 2024 and inclusion in Newsweek's America's Greatest Workplaces for Diversity 2024.
For investors seeking comprehensive and up-to-date information on AAR Corp.'s performance and developments, AAR remains a pivotal entity in the aerospace and defense industry, championing both operational excellence and sustainable growth.
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.
AAR CORP. (NYSE: AIR) announced a marketing partnership with ProvenAir Technologies to enhance digital solutions for aviation customers. This partnership focuses on automating the back-to-birth (BtB) trace history of life limited parts, aiming to improve records quality, save time, and increase the value of used serviceable materials. With ProvenAir's technology, AAR intends to connect aircraft owners with efficient digital solutions, further differentiating their offerings in the market.
AAR CORP. (NYSE: AIR) reported third quarter FY2022 consolidated sales of $452.2 million, a 10% increase from the prior year. GAAP diluted earnings per share from continuing operations stood at $0.63, down from $0.87 in Q3 FY2021, affected by prior CARES Act support. However, adjusted earnings rose 70% to $0.63 compared to $0.37 last year. Cash flow from operations was $16 million. Despite 8% lower government sales, commercial sales surged 28%. AAR aims for continued shareholder value through strategic investments and M&A.
AAR (NYSE: AIR) has announced an exclusive distribution agreement with Collins Aerospace’s Goodrich De-Icing & Specialty Heating Systems. Under this agreement, AAR will provide de-icers and related products to airlines and MROs globally. The products, which feature patented technology, are primarily utilized on general aviation and regional turbo-prop aircraft. AAR aims to enhance its offerings for the business and general aviation markets, while Collins Aerospace anticipates that AAR’s expertise will benefit its extensive client base.
AAR CORP. (NYSE: AIR) will release its fiscal Q3 2022 financial results on March 22, 2022, after market close. The results will be discussed in a conference call at 3:45 p.m. Central time on the same day. Interested parties can access the call via specific phone numbers for domestic and international callers. A replay will be available from March 22, 2022, 7:15 p.m. until March 29, 2022, 10:59 p.m. This announcement signals an important opportunity for investors to assess AAR's financial performance amidst its operations in over 20 countries.
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