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May 31, 2020
AAR Corp Q4 2020 Earnings Report
AAR Corp's Q4 earnings were significantly affected by COVID-19, with sales decreasing by 26% compared to the prior year, but government and defense sales grew by 8%.
Key Takeaways
AAR Corp reported a decrease in sales and a loss from continuing operations due to the impact of COVID-19 and restructuring actions. While commercial airline volumes decreased, government and defense activities saw growth. The company took cost reduction actions and focused on the commercial cargo market to mitigate the impact.
Consolidated sales decreased 26% year-over-year due to COVID-19 and grounding of the commercial fleet.
Sales to government and defense customers in the Aviation Services segment increased 8% year-over-year.
The company executed cost reduction actions to align expenses with revenue.
A sole source firm-fixed-price $125 million contract was awarded from the U.S. Air Force to produce and repair 463L cargo pallets.
Revenue by Segment
Forward Guidance
Given the continued macro uncertainty from the impact of COVID-19, the company will not be providing financial guidance for Fiscal Year 2021 at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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