Notable News to Watch: AAR Corp. (NYSE: AIR)

On Saturday, AAR Corp. (NYSE: AIR) stock traded volume of 195672 shares during its last trading session as compared to its average volume of 241717 shares over the recent month. AIR ended its day with the upstream along the move of 3.31% and closed at the price of $41.3 before opening at $39.92. It has total market capitalization is $1444260973. 52-week range of the stock remained $ 29.84 – 49.92 while its day lowest price was $39.77 and its hit its day highest price at $41.33.

AAR CORP. (AIR) recently stated first quarter Fiscal Year 2020 consolidated sales of $541.5M and income from continuing operations of $17.1M, or $0.49 per diluted share.  For the first quarter of the previous year, the Company stated sales of $466.3M and income from continuing operations of $18.9M, or $0.54 per diluted share.  Our adjusted diluted earnings per share from continuing operations were $0.57 in the current quarter contrast to $0.54 in the first quarter of the previous year.

Net interest expense for the quarter was $2.1M contrast to $1.6M last year.  Also during the quarter, the Company paid cash dividends of $2.9M, or $0.075 per share.  Average diluted share count for the quarter was 35.0M contrast to 35.1M in the first quarter last year.

Cash flow used in operating activities from continuing operations was $30.1M during the current quarter.  The level of our accounts receivable financing program remained consistent with the fourth quarter resulting in no favorable or unfavorable impact on our cash flows during the quarter.

Holmes concluded, “We are very happy with the recent C-40 award and other new contract wins and we remain well-positioned to continue to secure new business across the commercial and government markets.  Demand for our aviation services offering remains very strong and we are excited about the opportunities we see for Fiscal 2020.”

Outlook

We are re-affirming our financial guidance for Fiscal Year 2020, which includes sales in the range of $2.1 to $2.2B and adjusted diluted earnings per share from continuing operations of $2.45 to $2.65.  We continue to expect selling, general and administrative expenses to be about 10.5% of sales and anticipate an effective tax rate of 24% in Fiscal Year 2020.

EPS growth for this year is 16.30% and EPS growth for next year is expected to reach at 13.85%. EPS growth in past five years was 6.00% while EPS growth in next five years is projected to arrive at 16.90%. Sales growth past 5 years was measured at 3.70%.

 

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