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Aar Corp (AIR) SEC Filing 10-Q Quarterly report for the period ending Saturday, November 30, 2019

Aar Corp

CIK: 1750 Ticker: AIR

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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Equity
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statements Of Income
Accounting For Stock-Based Compensation
Accounting For Stock-Based Compensation (Details)
Accounting For Stock-Based Compensation (Tables)
Accounts Receivable
Accounts Receivable (Details)
Accounts Receivable (Tables)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Tables)
Business Segment Information
Business Segment Information (Tables)
Business Segment Information - Reconcile Of Gross Profit To Income (Details)
Business Segment Information - Sales And Gross Profit (Details)
Discontinued Operations
Discontinued Operations (Details)
Discontinued Operations (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Financing Arrangements
Financing Arrangements (Details)
Financing Arrangements (Tables)
Inventory
Inventory (Details)
Inventory (Tables)
Investment In Joint Ventures
Investment In Joint Ventures (Details)
Leases
Leases (Details)
Leases (Tables)
Leases - Maturities (Details)
Leases - Operating Lease Cost Prior To The Adoption Of Asc 842 (Details)
Leases - Supplemental Cash Flow Information (Details)
Legal Proceedings
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Revenue Recognition - Contract Assets And Liabilities And Remaining Performance Obligations (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Sale Of Receivables
Sale Of Receivables (Details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (Details)
Supplemental Cash Flow Information (Tables)
Ticker: AIR
CIK: 1750
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-19-074491
Submitted to the SEC: Thu Dec 19 2019 11:38:18 PM EST
Accepted by the SEC: Fri Dec 20 2019
Period: Saturday, November 30, 2019
Industry: Aircraft And Parts

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