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) 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.
AAR (NYSE: AIR) has been recognized as the first independent MRO to implement a Safety Management System (SMS), in compliance with FAA, EASA, TCCA, and IATA standards. This initiative aims to enhance safety by proactively identifying potential issues. The SMS is fully operational at AAR MRO facilities in Rockford and Miami, with plans for implementation across other sites in 2021. AAR utilized its proprietary software, APRISe™, to streamline the SMS process.
AAR (NYSE: AIR) was awarded a $148.36 million follow-on contract by Naval Air Systems Command for contractor logistics support for the C-40A aircraft. This contract enhances support for the U.S. Navy’s fleet, including maintenance at AAR’s Oklahoma City facility and logistics at six Naval Air Stations. This win marks AAR’s second consecutive selection for this contract, reinforcing its commitment to quality service. The contract will also introduce new operating sites and additional support services, thereby increasing AAR's operational capacity.
AAR (NYSE: AIR) has established an Aviation Safety and Training Committee (ASTC) at the Board level, aimed at enhancing aviation safety across its operations. The committee will include three independent directors, chaired by retired General Duncan J. McNabb. AAR's commitment to safety is emphasized by the proactive formation of this committee, which will oversee training and safety culture to ensure high standards in aviation service delivery. The initiative reflects AAR's strategic focus on maintaining a robust safety program critical to its operations and customer trust.
AAR CORP. (NYSE: AIR) will release its financial results for the second quarter of fiscal year 2021, ending November 30, 2020, on December 17, 2020, after market close. A conference call to discuss these results is scheduled for the same day at 3:45 p.m. CT. Interested parties can join by calling 866-802-4322 in the U.S. and +1-703-639-1319 internationally. A replay will be available from 7:15 p.m. CT on December 17 until December 22, 2020. AAR is a global aerospace and defense company providing services in over 20 countries.
AAR (NYSE: AIR) has partnered with Fortress Transportation and Infrastructure Investors (NYSE: FTAI) to establish Serviceable Engine Products, focusing on the CFM56 used serviceable material (USM) market. This exclusive seven-year agreement aims to enhance USM inventory for the global aviation aftermarket, leveraging FTAI's inventory of over 200 CFM56 engines. AAR will manage the teardown, repair, marketing, and sales of spare parts, aiming to meet the increasing demand for cost-efficient aviation solutions.
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