AIR - Why Shares of AAR Are Flying Higher This Week
Through the first three weeks of March, shares of AAR (NYSE: AIR) didn't move much. Over the period, they climbed about 1%. This week, however, the aviation services stock is gaining considerably more altitude. As of the end of trading on Thursday, it had risen 12.1% for the week.
The company's fiscal third-quarter 2022 earnings report, delivered after the closing bell on Tuesday, helped provide the impetus for that lift. But AAR also received some favorable coverage from Wall Street.
For the fiscal period that ended Feb. 28, AAR beat analysts' consensus expectations on both the top and bottom lines. While Wall Street expected the company to report revenue of $432.5 million and earnings per share (EPS) of $0.58, AAR actually tallied sales of $452.2 million and EPS of $0.63.
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Why Shares of AAR Are Flying Higher This Week