AAR Corp. (AIR) Posts Mixed Q4 Results
- Wall Street ends sharply lower after hawkish Bullard spooks investors
- Fed-fueled dollar rises as bears make for exits
- Adobe (ADBE) Edges Higher After Topping Q2 Estimates, Analysts Raise PT on 'Impressive' Performance
- Fed Statement Very Bullish for Tech Stocks, Focus on Cloud and Cyber Stocks - Wedbush
- You Fight Real Physical Inflation With Rate Hikes, Not Talk of Rate Hikes; Buy the Dip in Commodities, Gold Underpriced - Goldman Sachs
AAR Corp. (NYSE: AIR) reported Q4 EPS of $0.36, $0.16 better than the analyst estimate of $0.20. Revenue for the quarter came in at $415.8 million versus the consensus estimate of $421.7 million.
AAR's financial position improved over the course of Fiscal Year 2015. The Company started with a total debt to total capital ratio of 38.8% on May 31, 2014 and ended the year with a ratio of 15.4% (net debt ratio of 10.5% taking into consideration the Company's May 31, 2015 cash position). The Company now has $434.6 million cash and available liquidity under its revolving credit facility.
AAR recently announced the closure of its MRO facility in Hot Springs, Ark. in August and the transfer of its regional aircraft maintenance operations to the Company's Oklahoma City facility to optimize its 1MRO network capacity and improve operating margins. The consolidation should contribute to improved performance at the Company's MRO business in Fiscal 2016. Growth in supply chain is expected to continue. Airlift will experience lower results over the next several quarters as it looks to add flying positions and incurs startup costs on new programs, which are expected to begin generating revenues in the Company's fiscal fourth quarter. Once implementation of new contract wins materialize in the airlift business, the Company expects overall improvement in financial and operating leverage.
For earnings history and earnings-related data on AAR Corp. (AIR) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Adobe Systems (ADBE) Tops Q2 EPS by 22c, Q3 Guidance Tops Views
- NACCO Industries (NC) Announces Notification Of Contract Mining Agreement Termination For The Navajo Mine
- U.S. Steel (X) Q2 EPS Guidance Tops Consensus
Create E-mail Alert Related CategoriesEarnings, Guidance
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!