AAR Corp Q2 2024 Earnings Report
Key Takeaways
AAR Corp reported a strong second quarter with consolidated sales of $545.4 million, a 16% increase year-over-year, and income from continuing operations of $23.8 million, or $0.67 per diluted share. Adjusted diluted earnings per share were $0.81. The company benefited from strong commercial sales growth and operating margin expansion.
Consolidated sales increased by 16% compared to the prior year quarter.
Sales to commercial customers increased by 24% year-over-year, driven by demand for new and used parts.
Adjusted operating margin increased to 8.1%, driven by improved profitability in airframe maintenance facilities.
The company announced an agreement to acquire Triumph Group’s Product Support business.
AAR Corp
AAR Corp
Forward Guidance
AAR Corp is expected to meaningfully improve operating margins and is consistent with, and accelerates, their stated strategy to add differentiated capability to their aviation services offerings.