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Aar Corp (AIR) SEC Filing 10-Q Quarterly Report for the period ending Monday, February 28, 2022

Aar Corp

CIK: 1750 Ticker: AIR

 

Exhibit 99.1

 

AAR REPORTS THIRD QUARTER FISCAL YEAR 2022 RESULTS

 

·Third quarter sales of $452 million, up 10% over the prior year

 

·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

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
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: 0001104659-22-036639
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

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