AAR Corp. (AIR) Tops Q1 EPS by 22c, Revenues Beat
AAR Corp. (NYSE: AIR) reported Q1 EPS of $0.17, $0.22 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $401 million versus the consensus estimate of $381.71 million.
- First quarter sales of $401 million, down 26% from the prior year reflecting the impact of COVID-19
- First quarter GAAP diluted loss per share from continuing operations of $(0.40)
- Adjusted diluted earnings per share from continuing operations of $0.17, which exclude the impact of the Composites sale and other items
“Over the last three quarters, we have taken multiple actions to execute on our strategic plan to focus and improve on our core aviation services offering. We have divested certain non-core businesses, consolidated our facility footprint, and exited or restructured several underperforming contracts. We have also taken steps to permanently reduce our fixed and variable costs. We believe all of these actions have positioned us for improved operating margins as demand recovers in the commercial aviation business,” said John M. Holmes, President and Chief Executive Officer of AAR CORP.
For earnings history and earnings-related data on AAR Corp. (AIR) click here.