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May 31, 2024
AAR Corp Q4 2024 Earnings Report
AAR Corp reported record fourth quarter and fiscal year 2024 results, with sales increasing by 19% and adjusted EPS at $0.88.
Key Takeaways
AAR Corp reported record fourth quarter fiscal year 2024 consolidated sales of $656.5 million and income from continuing operations of $9.1 million, or $0.26 per diluted share. The adjusted diluted earnings per share from continuing operations in the fourth quarter of fiscal year 2024 were $0.88. Consolidated fourth quarter sales increased 19% over the prior year quarter.
Delivered another record quarter driven by record performance in new parts distribution activities and the Triumph Product Support acquisition.
Commercial sales increased 20% due to the acquisition of the Product Support business and strong demand for new parts distribution activities.
Government sales increased 15% primarily due to increased order volume for new parts distribution activities and improved performance across government program activities.
Adjusted operating margin increased from 7.8% in the prior year quarter to 9.3% in the current year quarter.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
We believe demand will remain robust as the life and high utilization of current generation aircraft continue to extend, which we expect will lead to another year of sales and earnings growth as we leverage our stronger market position.
Positive Outlook
- Continued demand in the commercial aviation market
- The life and utilization of current generation aircraft continue to extend
- Anticipated activities and benefits under extended, expanded and new services, supply and distribution agreements
- Opportunities for capital deployment and margin improvement
- Contributions from recent acquisitions
Challenges Ahead
- Factors that adversely affect the commercial aviation industry
- Adverse events and negative publicity in the aviation industry
- A reduction in sales to the U.S. government and its contractors
- Cost overruns and losses on fixed-price contracts
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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