Aar Corp (AIR) 10-Q Quarterly Report March 2022

Third quarter GAAP diluted earnings per share from continuing operations of $0.63 compared to $0.87 in Q3 FY2021, which included a favorable impact from CARES Act payroll support

Adjusted diluted earnings per share from continuing operations of $0.63, up 70% from $0.37 in Q3 FY2021

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

WOOD DALE, ILLINOIS (March 22, 2022) — AAR CORP. (NYSE: AIR) today reported third quarter Fiscal Year 2022 consolidated sales of $452.2 million and income from continuing operations of $22.6 million, or $0.63 per diluted share. For the third quarter of the prior year, the Company reported sales of $410.3 million and income from continuing operations of $31.1 million, or $0.87 per diluted share. Our adjusted diluted earnings per share from continuing operations in the third quarter of Fiscal Year 2022 were $0.63 compared to $0.37 in the third quarter of the prior year. The prior year quarter included net pretax adjustments of $23.4 million, or $0.50 per share, primarily related to the exclusion of CARES Act payroll support.

Consolidated third quarter sales increased 10% over the prior year quarter. Our consolidated sales to commercial customers increased 28% 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 8% primarily related to the level of program activity and delays in pallet orders in our Mobility business.

Sales to commercial customers were 59% of consolidated sales compared to 51% in the prior year’s quarter primarily reflecting the recovery in the commercial market from the impact of COVID-19.

The following information was filed by Aar Corp (AIR) on Tuesday, March 22, 2022 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

Material Contracts, Statements, Certifications & more

Aar Corp provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

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: 0001104659-22-036639
Submitted to the SEC: Tue Mar 22 2022 5:18:22 PM EST
Accepted by the SEC: Tue Mar 22 2022
Period: Monday, February 28, 2022
Industry: Aircraft And Parts