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AAR beats 3Q profit forecasts

WOOD DALE, Ill. (AP) _ AAR Corp. (AIR) on Tuesday reported fiscal third-quarter earnings of $15.5 million.

On a per-share basis, the Wood Dale, Illinois-based company said it had net income of 44 cents. Earnings, adjusted for one-time gains and costs, were 49 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The airplane maintenance company posted revenue of $456.3 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $481.2 million.

AAR expects full-year earnings to be $2.50 to $2.80 per share, with revenue in the range of $2.1 billion to $2.2 billion.

AAR shares have increased slightly more than 9 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $42.95, a climb of 26 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AIR at https://www.zacks.com/ap/AIR