Free Research Report as AAR’s Quarterly Revenues Jumped 12%; Adjusted EPS Advanced 17%
Stock Monitor: Rockwell Collins Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 23, 2018 / Active-Investors.com has just released a free earnings report on AAR Corp. (NYSE: AIR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AIR. The Company posted its financial results on March 20, 2018, for the third quarter of the fiscal year 2018. The airplane maintenance Company surpassed earnings estimates, and also provided guidance for the upcoming quarter. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, AAR most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the third quarter of the fiscal year 2018, ended February 28, 2018, AAR reported net sales of $456.3 million compared to $407.2 million in the year ago same quarter. This was marked as an increase of 12% in the Company's total revenues for the reported quarter, which, however, lagged analysts' estimates of $481.2 million.
For Q3 FY18, AAR's operating income grew 3% to $24.2 million compared to $23.4 million in Q3 FY17. During the reported quarter, the Company incurred interest expenses of $2.2 million versus $1.4 million in the year ago comparable quarter.
AAR reported a net income of $15.5 million, or $0.44 per diluted share, in Q3 FY18 compared to $13.7 million, or $0.41 per diluted share, in Q3 FY17. The Company's reported quarter results included a tax benefit of $13.0 million, or $0.38 per diluted share, to reflect the estimated re-measurement impact of the US Tax Cuts and Job Act 2017 (TCJA) on its deferred tax liabilities.
For Q3 FY18, AAR's adjusted earnings from continuing operations were $0.49 per diluted share, up 17% compared to $0.42 per diluted share in Q3 FY17. The Company's earnings beat Wall Street's estimates of $0.48 per share.
Segment Details
For Q3 FY18, AAR's Aviation Services segment reported revenues of $426.4 million, reflecting an increase of 11.3% compared to $382.8 million in Q3 FY17. The strong sales growth in the segment's integrated supply chain solutions and parts supply activities more than offset the impact from the wind-down of the KC-10 CLS Program, which declined to $3.6 million in sales in the reported quarter from $24.3 million in the prior year's corresponding quarter.
For Q3 FY18, AAR''s Expeditionary Services segment earned 22.5% incremented revenues of $29.9 million versus $24.4 million in Q3 FY17, primarily due to the continued recovery in sales volumes for the Company's mobility products business.
During Q3 FY18, AAR's sales to commercial customers represented 76.9% of consolidated sales compared to 74.2% of consolidated sales in Q3 FY17. The Company's sales to government and defense customers represented 23.1% of consolidated sales compared to 25.8% in the prior year's same quarter.
Cash Matters
As of February 28, 2018, AAR's cash and cash equivalents were $23.9 million versus $10.3 million reported on May 31, 2017. As of February 28, 2018, the Company's total liabilities posted were $1.51 billion versus $1.50 billion of as May 31, 2017.
During Q3 FY18, AAR's cash flow from operating activities from continuing operations was $50.3 million compared to $18.3 million in the prior year's corresponding quarter. The new accounts receivable financing program contributed $52.3 million to the reported quarter's operating cash flows.
Outlook
For FY19, AAR is forecasting consolidated sales to be in the range of $2.1 billion to $2.2 billion. The Company expects earnings per diluted share to be in the band of $2.50 to $2.80.
Stock Performance Snapshot
April 20, 2018 - At Friday's closing bell, AAR's stock marginally fell 0.99%, ending the trading session at $45.00.
Volume traded for the day: 226.43 thousand shares.
Stock performance in the last month – up 2.90%; previous three-month period – up 7.66%; past twelve-month period – up 30.47%; and year-to-date – up 14.53%
After last Friday's close, AAR's market cap was at $1.58 billion.
Price to Earnings (P/E) ratio was at 26.96.
The stock has a dividend yield of 0.67%.
The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry.
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