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) has been awarded a five-year contract by the U.S. Navy's Naval Air Systems Command (NAVAIR) for engine depot maintenance and repair of its P-8A Poseidon Aircraft fleet. The contract has an aggregate ceiling value of approximately $1.2 billion. Starting October 2024, AAR, in partnership with Delta TechOps, will provide program management, supply chain management, engineering support, and maintenance services to enhance engine asset availability.
This contract follows a recent award for P-8A airframe maintenance and aligns with AAR's strategy to grow its commercial derivative business. It is expected to increase engine part sales in the Company's Part Supply segment. The partnership aims to support the U.S. Navy's maritime patrol and reconnaissance mission through comprehensive P-8A maintenance and repair services.
AAR CORP.'s subsidiary Airinmar has extended its repair cycle management services contract with Singapore Airlines. The agreement covers Airinmar's full scope of services, including repair order management, quote management, turnaround time (TAT) management, repair cost value engineering, component warranty recovery, and TAT guarantee enforcement. Airinmar will continue using its proprietary online systems to optimize Singapore Airlines' repair order status management and consolidate repair quotations.
Airinmar has been providing these services to Singapore Airlines since 2005. The extension aims to support the airline with repair cost reduction and component availability across their passenger and cargo fleets. Matt Davies, Airinmar's General Manager, expressed pride in delivering their full range of services to Singapore Airlines and continuing their long-term relationship.
AAR CORP (NYSE: AIR) reported strong first quarter fiscal year 2025 results, with consolidated sales of $661.7 million, up 20% from the prior year. The company achieved net income of $18.0 million, or $0.50 per diluted share, compared to a net loss in Q1 FY2024. Adjusted diluted earnings per share increased 9% to $0.85.
Key highlights include:
- 20% sales growth in both commercial and government businesses
- 26% organic growth in new parts distribution
- Improved adjusted operating margin from 7.3% to 9.1%
- Multiple new contract awards, including two $1.2 billion IDIQ contracts from NAVAIR
AAR expects continued growth and margin expansion across its commercial and government businesses, driven by strong demand for its services and the integration of the Product Support acquisition.
AAR CORP. (NYSE: AIR) has been awarded a five-year contract by the U.S. Navy's Naval Air Systems Command (NAVAIR) to perform P-8A Poseidon depot airframe maintenance and depot field team support. The contract has an aggregate ceiling value of approximately $1.2 billion and covers services for the U.S. Navy, government of Australia, and foreign military sales customers.
AAR will provide scheduled and unscheduled maintenance, in-service repair, technical directive incorporation, airframe modifications, and aircraft-on-ground (AOG) support. This follow-on contract maintains AAR's position as a leader in commercial derivative airframe maintenance for the U.S. Department of Defense and supports Navy readiness.
AAR CORP. (NYSE: AIR) and the U.S. Defense Logistics Agency (DLA) Land and Maritime have signed a Supply Chain Alliance charter, formalizing their commitment to strengthen joint support for the nation's warfighter. This alliance advances a longstanding partnership and aims to enhance responsiveness, reduce customer wait time, and improve administrative lead time.
The official partnership provides AAR with a dedicated resource within the DLA to expedite contract award and execution processes. This is expected to enhance AAR's position in supporting OEM customers through increased efficiencies, including a streamlined contracting experience, reduction in labor hours, expedited product delivery, and opportunities for process improvement.
AAR CORP (NYSE: AIR), a leading aviation services provider, has announced it will release its first quarter fiscal year 2025 financial results on September 23, 2024, after the New York Stock Exchange closes. The company will host a conference call at 4 p.m. Central time on the same day to discuss the results. Interested parties can access a listen-only webcast and slides, or join via phone by registering online. The financial results will cover the period ended August 31, 2024. A replay of the conference call will be available shortly after completion and remain accessible for approximately one year.
AAR CORP. (NYSE: AIR), a leading aviation services provider, has announced its participation in two investor conferences in September 2024. Sean Gillen, AAR's CFO, will attend the 30th Annual Gabelli Aerospace & Defense Symposium in New York City on September 5. Later, on September 24, John M. Holmes, AAR's Chairman, President and CEO, along with Gillen, will participate in the RBC Capital Markets 2024 Global Industrials Conference in Las Vegas.
Investors interested in meeting with AAR's senior leadership during these events can contact the company's Investor Relations team at investors@aarcorp.com. For more information on AAR's investor resources, visit their website's investor section.
AAR (NYSE: AIR) has signed multiple long-term distribution agreements with Ontic, expanding their defense and commercial partnerships. These agreements enhance service offerings for the U.S. government and global commercial customers.
Under the first defense agreement, AAR will support U.S. government customers by including T55 engine components for the CH-47 helicopter. A second agreement adds part numbers for platforms like C-130, H-60, and E-2D, increasing Ontic offerings by over 33%. A third agreement involves distributing Ontic's thrust vector actuation systems motor.
Additionally, a long-term global exclusive commercial agreement covers parts for multi-channel satellite communication systems. These agreements aim to reduce lead times and increase parts availability.
Brian Sartain, COO at Ontic, emphasized that this partnership enhances supply chain management and operational planning. Frank Landrio, AAR's SVP of Distribution, highlighted the strategic alignment of both companies' strengths.
AAR CORP. (NYSE: AIR) has been recognized on TIME's inaugural list of America's Best Mid-Size Companies 2024. This prestigious award, presented by TIME and Statista Inc., evaluated companies based on employee satisfaction, revenue growth, and sustainability transparency. The list includes top 500 mid-size companies operating in the United States with revenues between $100 million and $10 billion in 2022 or 2023.
John M. Holmes, AAR's Chairman, President and CEO, emphasized the importance of their team members and positive company culture in achieving this recognition. AAR, a leading provider of aviation services to commercial and government operators, MROs, and OEMs, views this award as a testament to their strengths in fostering employee satisfaction while effectively growing their business and demonstrating strong corporate citizenship.
AAR CORP. (NYSE: AIR) reported record fourth quarter sales of $656.5 million, up 19% year-over-year, and full-year sales of $2.3 billion, up 17%. The company's Q4 adjusted diluted EPS from continuing operations was $0.88, a 6% increase from $0.83 in Q4 FY2023. Full-year adjusted EPS reached $3.33, up 16% from $2.86 in FY2023. AAR's commercial sales grew 20%, driven by the Product Support business acquisition and strong demand for new parts distribution. Government sales increased 15%. The company's adjusted operating margin improved to 9.3% in Q4, up from 7.8% last year. AAR secured new contracts and expanded existing agreements, positioning itself for continued growth in FY2025.
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