AAR Gains 5% Following Earnings on Outlook for Travel Demand

Investing.com

Wed, Mar 23, 2022, 9:26 AM1 min read

In this article:

By Sam Boughedda

Investing.com -- AAR Corp (NYSE:AIR) reported its third-quarter 2022 results on Tuesday after the close, sending its shares up 5.72% in Wednesday's session.

Revenue came in at $452 million, beating analysts' consensus of $449.74 million. Revenue was up 10% compared to the prior year.

Earnings per share followed suit, topping forecasts by 3 cents and reaching 63 cents.

"Our largest commercial customers remain optimistic about the recovering demand for business and leisure travel and we expect this momentum to continue," said John Holmes, president and CEO of AAR CORP.

Holmes continued: "We have now delivered our sixth straight quarter of adjusted operating margin expansion and our margins are exceeding pre-pandemic levels."

Furthermore, in the company's earnings call, Holmes said they expect modest sales growth sequentially in the fourth quarter.

Following the report, RBC Capital raised its price target on the stock to $56 from $50.

AAR Gains 5% Following Earnings on Outlook for Travel Demand

Russian communications regulator has blocked Google News - Interfax

Steel giant Severstal scrambles to avoid first major default of Russia-Ukraine crisis

The Headache at the End of the Costco Gold Rush
Costco made buying a gold bar as simple as tossing it in a shopping cart. Adam Xi, 33 years old, called five different dealers to get a price he could accept for the gold bar he bought at Costco in October. Costco shoppers are spending as much as $200 million monthly on gold, according to a Wells Fargo estimate.
The Wall Street Journal•8h ago
Nvidia Sinks, Exposing 8 'Secrets' For When To Sell Stocks
As top growth stocks like Nvidia fall below key moving averages, keep in mind these proven rules for when to sell stocks.
Investor's Business Daily•7m ago
Don't buy the dip in stocks just yet as a wave of selling is about to bring the market to a bottom, according to one of the biggest bulls on Wall Street
The S&P 500 could bottom out in the next month, according to Fundstrat's head of research Tom Lee.
Business Insider•19h ago
Here is What to Know Beyond Why Pfizer Inc. (PFE) is a Trending Stock
Recently, Zacks.com users have been paying close attention to Pfizer (PFE). This makes it worthwhile to examine what the stock has in store.
Zacks•7h ago
Why Super Micro Computer Stock Just Crashed 17%
Super Micro Computer just spooked its investors with a suggestion that it will earn exactly what it promised to earn three months ago.
Motley Fool•4h ago
Welcome to 'peak boomer' era: A wave of retirees is about to blow through their savings and cling to Social Security to stay afloat
While more older boomers tend to have a pension, a looming wave of younger retirees are about to strain the economy and Social Security.
Business Insider•2h ago
Magnificent Seven Stocks To Buy And Watch: Nvidia Stock Dives Below Key Level
Magnificent Seven stocks, including AI leader Nvidia, are among the best stocks to buy and watch in today's stock market.
Investor's Business Daily•33m ago
Super Micro Leads Tech Selloff as AI Winners Slump Sharply
(Bloomberg) -- Super Micro Computer Inc. shares are seeing their biggest drop in about two months on Friday, leading a sharp decline among technology stocks with exposure to artificial intelligence.Most Read from BloombergElon Wants His Money BackNew York’s Rich Get Creative to Flee State Taxes. Auditors Are On to ThemDubai Grinds to Standstill as Flooding Hits CityIsrael Reported to Have Launched Retaliatory Strike on Iran‘Mag Seven’ Get Crushed Before Next Week’s Results: Markets WrapThe maker
Bloomberg•3h ago
Nvidia Falls Below Key Level Of Support; Is Nvidia A Buy Now?
If you are still holding to Nvidia stock, here is a key sell signal to watch for: Shares dipped below the 50-day moving average Friday. Nvidia's chart shows that its relative strength line, which compares the company's stock performance to the S&P 500, is flattening. Chief Executive Jensen Huang recently addressed students at his alma mater of Oregon State University and stated that "artificial intelligence is the technology industry's single greatest contribution to social elevation."
Investor's Business Daily•6h ago
Super Micro Stock Dives as It Skips Earnings Preannouncement
In seven of the past eight quarters, the company disclosed preliminary results ahead of its earnings report, generally raising its guidance.
Barrons.com•2h ago

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

AAR Gains 5% Following Earnings on Outlook for Travel Demand

Recommended Stories

The Headache at the End of the Costco Gold Rush

Nvidia Sinks, Exposing 8 'Secrets' For When To Sell Stocks

Don't buy the dip in stocks just yet as a wave of selling is about to bring the market to a bottom, according to one of the biggest bulls on Wall Street

Here is What to Know Beyond Why Pfizer Inc. (PFE) is a Trending Stock

Why Super Micro Computer Stock Just Crashed 17%

Welcome to 'peak boomer' era: A wave of retirees is about to blow through their savings and cling to Social Security to stay afloat

Magnificent Seven Stocks To Buy And Watch: Nvidia Stock Dives Below Key Level

Super Micro Leads Tech Selloff as AI Winners Slump Sharply

Nvidia Falls Below Key Level Of Support; Is Nvidia A Buy Now?

Super Micro Stock Dives as It Skips Earnings Preannouncement