AIR - AAR Corp.: Record Quarter Boosted By New Parts Distribution And Triumph Acquisition

2024-07-23 23:45:30 ET

Summary

• AAR Corp. reports strong year-over-year top line growth in FY2024, with consolidated sales increasing to $2.318 billion. Additionally, its adjusted margins expanded as well.
• Contract wins with Sumitomo Precision Products and Triumph are expected to bolster AIR's Parts Supply segment.
• Commercial airlines are facing challenges with a shortage of aircraft to support the increasing travel demand. Therefore, many airlines are delaying their aircraft retirements as a temporary solution.
• Increasing demand for maintenance, repair, and overhaul services is expected to support growth in AIR's Repair & Engineering segment.

Synopsis

AAR Corp. ( AIR ) specializes in providing products, services, and solutions to commercial and government aerospace customers. For FY2024, AIR continues to report strong year-over-year growth as consolidated sales increased to approximately $2.318 billion. In addition, its FY2024 adjusted margins also expanded year-over-year. For its most recent 4Q24, AIR continued to report strong top-line growth as consolidated sales grew 19% year-over-year to $657 million....

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