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

Aar Corp

CIK: 1750 Ticker: AIR

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.

 

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The following information was filed by Aar Corp (AIR) on Wednesday, September 25, 2019 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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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
Basis Of Presentation (Details)
Basis Of Presentation (Tables)
Business Segment Information
Business Segment Information (Tables)
Business Segment Information - Net Sales And Gross Profit (Details)
Business Segment Information - Reconcile Of Gross Profit To Income (Details)
Discontinued Operations
Discontinued Operations (Details)
Discontinued Operations (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Financing Arrangements
Financing Arrangements (Details)
Financing Arrangements (Tables)
Inventory
Inventory (Details)
Inventory (Tables)
Leases
Leases (Details)
Leases (Tables)
Leases - Maturities (Details)
Leases - Operating Lease Cost Prior To The Adoption Of Asc 842 (Details)
Leases - Supplemental Cash Flow Information (Details)
Legal Proceedings
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 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: 0001410578-19-001436
Submitted to the SEC: Thu Sep 26 2019 12:56:08 PM EST
Accepted by the SEC: Thu Sep 26 2019
Period: Saturday, August 31, 2019
Industry: Aircraft And Parts

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