Aar Corp (AIR) SEC Filing 10-Q Quarterly report for the period ending Saturday, August 31, 2019

Exhibit 99.1

For immediate release

AAR REPORTS FIRST QUARTER 2020 RESULTS

·           First quarter sales of $542 million, up 16% from $466 million in Q1 FY2019

·           First quarter GAAP diluted earnings per share from continuing operations of $0.49

·           Adjusted diluted earnings per share from continuing operations of $0.57

WOOD DALE, ILLINOIS (September 25, 2019) — AAR CORP. (NYSE: AIR) today reported first quarter Fiscal Year 2020 consolidated sales of $541.5 million and income from continuing operations of $17.1 million, or $0.49 per diluted share.  For the first quarter of the prior year, the Company reported sales of $466.3 million and income from continuing operations of $18.9 million, or $0.54 per diluted share.  Our adjusted diluted earnings per share from continuing operations were $0.57 in the current quarter compared to $0.54 in the first quarter of the prior year.

Consolidated sales increased 16% over the prior year period from continued growth in our programs and parts supply activities.  Our Aviation Services segment experienced significant growth of 17% driven by improved performance in MRO, execution on new government contract awards, and continued strong demand for both new and aftermarket parts.  In our Expeditionary Services segment, sales increased 6% as volumes have increased from recent contract awards.

“We are pleased with the strong start to Fiscal 2020 as our momentum carried into the first quarter.  We saw continued strength in our parts supply activities, as well as in government programs.  We are also pleased with the positive impact our efforts to attract and retain talent have had in our MRO activities,” said John M. Holmes, President and Chief Executive Officer of AAR CORP.

1