AAR Corp. (AIR) Tops Q2 EPS by 4c, Revenues Miss; Raises FY20 EPS/Revenue Mid-Point Guidance
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AAR Corp. (NYSE: AIR) reported Q2 EPS of $0.64, $0.04 better than the analyst estimate of $0.60. Revenue for the quarter came in at $493.1 million versus the consensus estimate of $525.21 million.
"This is our sixth consecutive quarter of double-digit sales growth. Revenue in our parts supply and government programs activities remains very strong and we continue to see meaningful recovery in MRO as a result of our labor initiatives. Our focus on integrating our differentiated capabilities across our best-in-class aviation services offering continues to be a successful model for growth," said John M. Holmes, President and Chief Executive Officer of AAR CORP.
Holmes concluded, "The fundamentals of our commercial and government end-markets remain strong and are driving continued demand for our services. I am proud of our team for their successful execution in the first two quarters, and we are excited about the opportunities we see for the balance of the fiscal year."
AAR Corp. sees FY2020 EPS of $2.50-$2.65, versus the consensus of $2.61. AAR Corp. sees FY2020 revenue of $2.15-2.225 billion, versus the consensus of $2.21 billion.
We are raising our financial guidance for Fiscal Year 2020, which now includes sales in the range of $2.150 to $2.225 billion and adjusted diluted earnings per share from continuing operations of $2.50 to $2.65. Our previous guidance included sales in the range of $2.1 to $2.2 billion and adjusted diluted earnings per share from continuing operations of $2.45 to $2.65. Compared to our prior financial guidance, the midpoint of our revised sales guidance increased from $2.150 to $2.188 billion and the midpoint of our revised adjusted diluted earnings per share from continuing operations increased from $2.55 to $2.58. We continue to expect selling, general and administrative expenses to be approximately 10.5% of sales and anticipate an effective tax rate of 24% in Fiscal Year 2020.
For earnings history and earnings-related data on AAR Corp. (AIR) click here.
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