Aar Corp (AIR) 10-Q Quarterly Report December 2021

WOOD DALE, ILLINOIS (December 21, 2021) — AAR CORP. (NYSE: AIR) today reported second quarter Fiscal Year 2022 consolidated sales of $436.6 million and income from continuing operations of $20.8 million, or $0.58 per diluted share. For the second quarter of the prior year, the Company reported sales of $403.6 million and income from continuing operations of $14.4 million, or $0.41 per diluted share. Our adjusted diluted earnings per share from continuing operations in the second quarter of Fiscal Year 2022 were $0.53 compared to $0.31 in the second quarter of the prior year.

Consolidated second quarter sales increased 8% over the prior year quarter. Our consolidated sales to commercial customers increased 33% over the prior year quarter due to the recovery in the commercial market from the impact of COVID-19. Our consolidated sales to government customers decreased 15% primarily related to the level of program activity for the modification and sale of two C-40 aircraft to the U.S. Marine Corps in the prior year quarter.

Sales to commercial customers were 59% of consolidated sales compared to 48% in the prior year’s quarter primarily reflecting the recovery in the commercial market from the impact of COVID-19.

Gross profit margins increased from 17.2% in the prior year quarter to 18.0% in the current quarter and adjusted gross profit margin increased from 13.9% to 16.7%, primarily due to the favorable impact from our actions to reduce costs and increase our operating efficiency.

The following information was filed by Aar Corp (AIR) on Tuesday, December 21, 2021 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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Material Contracts, Statements, Certifications & more

Aar Corp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: AIR
CIK: 1750
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-21-152249
Submitted to the SEC: Tue Dec 21 2021 5:13:50 PM EST
Accepted by the SEC: Tue Dec 21 2021
Period: Tuesday, November 30, 2021
Industry: Aircraft And Parts