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.
AAR CORP (NYSE: AIR) collaborates with Alaska Airlines to address the anticipated shortage of airline maintenance technicians. Boeing estimates a global need for 739,000 technicians over the next 20 years, with 192,000 required in North America. The partnership aims to recruit candidates from diverse backgrounds through the Flow Through Program, ensuring qualified applicants receive guaranteed interviews after training at AAR facilities. This initiative aligns with Alaska's commitment to diversity, equity, and inclusion, targeting career pathways for 175,000 young people by 2025.
AAR CORP. (NYSE: AIR) reported strong financial results for Q4 FY2021 with sales of $438 million, a 5% increase from the prior year. The company achieved GAAP diluted EPS of $0.41, recovering from a loss of $0.43 in Q4 FY2020. Adjusted diluted EPS soared 81% to $0.47. Operating cash flow improved significantly to $24 million, and gross profit margins rose to 16.4%. However, full fiscal year revenues declined 20% to $1.65 billion, impacted by COVID-19. The company remains optimistic about recovery, especially in government contracts, while maintaining a lower cost structure.
AAR CORP. (NYSE: AIR) will release its fourth quarter financial results for fiscal year 2021, which ended on May 31, 2021, after market close on July 20, 2021. A conference call to discuss the results is scheduled for the same day at 3:45 p.m. CT, accessible via phone for U.S. and international participants. A replay will be available shortly after the call until July 26, 2021. AAR is a global aerospace and defense solutions provider, offering services in over 20 countries across its Aviation and Expeditionary Services segments.
AAR (NYSE: AIR) has entered into a multi-year agreement with Druck, a Baker Hughes business, to provide aircraft-on-ground (AOG) support for engine pressure sensors. This collaboration enhances AAR's existing solutions, ensuring immediate access to pressure measurement technology for their customers, and preventing delays in parts supply. Druck's sensors are renowned for accuracy and reliability in various aviation applications, further bolstering AAR's customer service capabilities and product offerings.
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%.
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