Exhibit 99.1

 

For immediate release

  

AAR REPORTS SECOND QUARTER FISCAL YEAR 2020 RESULTS

 

·Second quarter sales of $561 million, up 14% from $493 million in Q2 FY2019

 

·Second quarter GAAP and adjusted diluted earnings per share from continuing operations of $0.57 and $0.64, respectively

 

·Second quarter cash flow from operating activities from continuing operations of $20 million

 

·Financial guidance for Fiscal Year 2020 raised to sales of $2.150 to $2.225 billion and to adjusted diluted earnings per share from continuing operations of $2.50 to $2.65

  

WOOD DALE, ILLINOIS (December 19, 2019) — AAR CORP. (NYSE: AIR) today reported second quarter Fiscal Year 2020 consolidated sales of $560.9 million and income from continuing operations of $20.1 million, or $0.57 per diluted share. For the second quarter of the prior year, the Company reported sales of $493.3 million and income from continuing operations of $11.2 million, or $0.32 per diluted share. Our adjusted diluted earnings per share from continuing operations were $0.64 in the current quarter compared to $0.60 in the second quarter of the prior year.

 

Consolidated sales increased 14% over the prior year period due to continued growth across our Aviation Services segment, which grew 15% during the quarter. This growth was driven by strong demand for both new and aftermarket parts, significant improvement in MRO and solid execution on our government contract awards.

 

“This is our sixth consecutive quarter of double-digit sales growth. Revenue in our parts supply and government programs activities remains very strong and we continue to see meaningful recovery in MRO as a result of our labor initiatives. Our focus on integrating our differentiated capabilities across our best-in-class aviation services offering continues to be a successful model for growth,” said John M. Holmes, President and Chief Executive Officer of AAR CORP.

 


The following information was filed by Aar Corp (AIR) on Thursday, December 19, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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