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 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.
AAR is set to release its Q4 fiscal year 2024 financial results on July 18, 2024, after the close of the NYSE trading session. The reporting period ended on May 31, 2024. A conference call to discuss the results will be held the same day at 4:00 p.m. Central time. Interested parties can join via a listen-only webcast or phone, with registration required for phone participation. Access details and a replay of the call, available for a year, will be provided on AAR's website.
AAR (NYSE: AIR) has been named one of America's Greatest Workplaces for 2024 by Newsweek and Plant-A Insights Group. This recognition highlights AAR's dedication to employee satisfaction through its people-oriented culture, competitive compensation, and career development opportunities. The award is based on a comprehensive study involving over 1.5 million company reviews from more than 250,000 employees in the U.S. AAR, a leading provider of aviation services, prioritizes creating a supportive work environment where team members feel valued and purposeful.
AAR (NYSE: AIR), an aviation services provider, has signed an agreement to expand its electronics distribution with OTTO Engineering into the APAC region.
This partnership will see AAR distributing OTTO's electromechanical switches, grips, and joysticks to commercial and defense markets.
The expansion leverages AAR's international presence and market expertise to offer a broader range of products.
OTTO's Director of Sales, Angelo Assimakopoulos, praised the partnership, highlighting AAR's global market service capabilities.
Darren Spiegel, AAR's VP and General Manager of Electronics, emphasized the collaboration's potential to drive innovation amid increasing industry electrification.
AAR, a leading aviation services provider, has been recognized on USA TODAY's America's Best Climate Leaders 2024 list. This accolade, determined through a rigorous two-step process involving data analysis and scoring of emission reductions, highlights AAR's commitment to environmental sustainability. Jessica Garascia, Senior VP at AAR, expressed pride in the company's ESG advancements and dedication to ongoing environmental efforts. This recognition underscores AAR's focus on monitoring and mitigating climate-related risks while reporting their environmental impact annually.
AAR has been named among Newsweek's America's Greatest Workplaces for Diversity 2024. This marks the second consecutive year that AAR has received this recognition, highlighting the company's commitment to fostering a diverse and inclusive work environment. The award, presented by Newsweek and Plant-A Insights Group, stems from a survey that included publicly available data, interviews with HR professionals, and over 1.5 million anonymous employee reviews. AAR's Chief Human Resources Officer, Tracey Patterson, emphasized that inclusivity is a core company value, enhancing innovation and creativity in delivering solutions to customers. For more details on AAR's diversity initiatives, visit their website.
AAR, a key player in aviation services, will join the Stifel Cross Sector Insight Conference on June 5, 2024. Chief Financial Officer Sean Gillen is set to present at 1:50 p.m. Eastern Time. The presentation will be live-streamed, with a recording available later for a year on AAR's investor relations site.
AAR Corp. will participate in the Bank of America Transportation, Airlines and Industrials Conference on May 16, 2024. Chief Financial Officer Sean Gillen will lead a fireside chat discussion. Investors can access the live audio webcast and on-demand recording to learn more about the company.
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