AAR Corp. (AIR) Misses Q2 EPS by 1c
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AAR Corp. (NYSE: AIR) reported Q2 EPS of $0.38, $0.01 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $540.7 million versus the consensus estimate of $485.3 million.
Within the Aviation Services segment, sales decreased 11.1% to $377.7 million. Supply chain sales to commercial and defense customers experienced double-digit growth but this was offset by lower sales of the Company's airlift and MRO services, although MRO facility utilization ramped up during the quarter. Comparability of financial performance for this quarter was also negatively impacted by the sale of two aircraft in the prior year period.
Within the Technology Products segment, sales declined by 3.2%. Commercial and military cargo sales experienced double-digit growth offset by lower sales of mobility products.
"Today we reported second quarter FY 2015 results in line with our expectations. Sales to commercial customers increased 2.1% primarily due to the double-digit growth from our Aviation Services supply chain business," said David P. Storch, Chairman and Chief Executive Officer of AAR CORP. "As we enter the second half of Fiscal 2015, we expect reduced revenues from our businesses that are tied to military operational tempo, while we expect solid growth from our Aviation Services supply chain and MRO businesses that, in total, should lead to sales growth on a consolidated basis."
For earnings history and earnings-related data on AAR Corp. (AIR) click here.
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