AAR Corp Q3 2023 Earnings Report
Key Takeaways
AAR Corp reported a 15% increase in consolidated sales to $521.1 million and income from continuing operations of $21.8 million, or $0.62 per diluted share, for the third quarter of fiscal year 2023. Adjusted diluted earnings per share were $0.75, compared to $0.63 in the prior year. The company also acquired Trax, a provider of aircraft MRO and fleet management software.
Consolidated third quarter sales increased 15% over the prior year quarter.
Consolidated sales to commercial customers increased 28% over the prior year quarter, primarily due to further recovery in the commercial market.
Adjusted diluted earnings per share from continuing operations in the third quarter of fiscal year 2023 were $0.75, compared to $0.63 in the third quarter of the prior year.
Acquired Trax, a provider of aircraft MRO and fleet management software.
AAR Corp
AAR Corp
Forward Guidance
AAR is encouraged by the optimism from airline customers regarding the recovery in air travel, which continues to drive demand. The company's strong balance sheet will allow them to continue making strategic investments, such as the acquisition of Trax, to support long-term growth.
Positive Outlook
- Strong operating margin performance
- Positive cash flows
- Optimism from airline customers regarding the recovery in air travel
- Robust pipeline of opportunities across commercial and government end markets
- Strong balance sheet to support strategic investments