AIR - Why AAR Stock Is Down Today
Aerospace and defense supplier AAR (NYSE: AIR) reported mixed results in its most recent fiscal quarter. In a brutal environment for stocks, investors are tending to see the glass half empty, sending shares of AAR down more than 10% early Friday afternoon.
AAR provides spare parts and other aftermarket services to defense and commercial aerospace companies and has operations in more than 20 countries. The company's most recent quarterly results, announced after the market closed Thursday, contained good and bad news for investors.
AAR reported fiscal first-quarter adjusted earnings per share of $0.61, beating the consensus estimate for $0.57 per share. But revenue came in a little light at $446.3 million, compared with expectations for $455 million.
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Why AAR Stock Is Down Today