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Nov 30, 2022
AAR Corp Q2 2023 Earnings Report
AAR Corp reported Q2 2023 earnings with increased sales and adjusted EPS.
Key Takeaways
AAR Corp reported a consolidated sales increase of 8% to $469.8 million compared to the prior year quarter. Income from continuing operations was $22.5 million, or $0.64 per diluted share. Adjusted diluted earnings per share from continuing operations were $0.69, compared to $0.53 in the second quarter of the prior year.
Consolidated sales increased 8% over the prior year quarter.
Consolidated sales to commercial customers increased 21% over the prior year quarter.
Sales to commercial customers were 66% of consolidated sales, compared to 59% in the prior year quarter.
Adjusted diluted earnings per share from continuing operations in the second quarter of fiscal year 2023 were $0.69, compared to $0.53 in the second quarter of the prior year.
Revenue by Geographic Location
Forward Guidance
AAR Corp expects positive commercial aftermarket trends and government contract awards to drive continued sequential growth over the coming quarters.
Positive Outlook
- Strong leisure and business travel demand
- Removal of international travel restrictions
- OEM production challenges that are extending the existing fleet
- New parts distribution activities
- Used serviceable material activities
Challenges Ahead
- Factors that adversely affect the commercial aviation industry
- A reduction in the level of sales to the branches, agencies and departments of the U.S. government and their contractors
- Non-compliance with laws and regulations relating to the formation, administration and performance of our U.S. government contracts
- Cost overruns and losses on fixed-price contracts
Historical Earnings Impact
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Avg. Return Before/After Earnings
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