Last10K.com

Aar Corp (AIR) SEC Filing 10-Q Quarterly Report for the period ending Tuesday, November 30, 2021

Aar Corp

CIK: 1750 Ticker: AIR

 

Exhibit 99.1

 

AAR REPORTS SECOND QUARTER FISCAL YEAR 2022 RESULTS

 

·Second quarter sales of $437 million, up 8% over the prior year

 

·Second quarter GAAP diluted earnings per share from continuing operations of $0.58 compared to $0.41 in Q2 FY2021

 

·Adjusted diluted earnings per share from continuing operations of $0.53, up 71% from $0.31 in Q2 FY2021

 

·Second quarter cash flow from operating activities from continuing operations of $16 million

 

·Announced $150 million share repurchase program

 

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.

View differences made from one quarter to another to evaluate Aar Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Aar Corp.

Continue

Assess how Aar Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Aar Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

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 Operations
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
Business Segment Information
Business Segment Information (Tables)
Business Segment Information - Reconciliation Of Gross Profit To Income (Details)
Business Segment Information - Sales And Gross Profit (Details)
Discontinued Operations
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Financing Arrangements
Financing Arrangements (Details)
Financing Arrangements (Tables)
Government Subsidies
Government Subsidies (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Legal Proceedings
Legal Proceedings (Details)
Other Non-Current Assets
Other Non-Current Assets - Investments In Joint Ventures (Details)
Restructuring And Impairment Costs
Restructuring And Impairment Costs (Details)
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 Composites Business
Sale Of Composites Business (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: 0001104659-21-152249
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

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/air/0001104659-21-152249.htm