AAR Corp. (AIR) Tops Q4 EPS by 1c
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AAR Corp. (NYSE: AIR) reported Q4 EPS of $0.44, $0.01 better than the analyst estimate of $0.43. Revenue for the quarter came in at $492.3 million versus the consensus estimate of $481.03 million.
We expect to continue to employ a balanced capital allocation strategy, leveraging the Company's strong balance sheet to support both internal and external growth opportunities and to return capital to shareholders. Since the fourth quarter of 2015, the Company has returned $223 million of capital to shareholders through share repurchases and dividends. At yesterday's regularly scheduled Board of Directors meeting, our Board authorized a new stock repurchase program that provides for the repurchase of up to $250 million of the Company's stock. We will continue to repurchase shares opportunistically depending on market and industry conditions, macroeconomic factors, competing internal capital requirements and other relevant considerations.
We are successfully executing our business strategy to grow our integrated supply chain and MRO businesses organically, while we continue to look to supplement this growth through acquisitions. We will remain disciplined in our approach to acquisitions by seeking out opportunities that will enhance our capabilities, expand our customer base or open up new markets for our businesses.
Financial flexibility will continue to be a top priority in order to take advantage of opportunities to drive growth and enhance shareholder value.
For earnings history and earnings-related data on AAR Corp. (AIR) click here.
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