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Reported Q: Q3 2024 Rev YoY: +8.9% EPS YoY: -36.5% Move: +3.82%

AAR Corp

AIR

$123.04 3.82%

Exchange NYSE Sector Industrials Industry Aerospace Defense

Q3 2024

Published: Mar 21, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for AIR

Reported

Report Date

Mar 21, 2024

Quarter Q3 2024

Revenue

567.30M

YoY: +8.9%

EPS

0.39

YoY: -36.5%

Market Move

+3.82%

Previous quarter: N/A

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Earnings Highlights

Revenue of $567.30M up 8.9% year-over-year
EPS of $0.39 decreased by 36.5% from previous year
Gross margin of 19.4%
Net income of 14.00M
"John Holmes: 'We delivered another strong quarter. Sales were up 9% year-over-year from $521 million to a third quarter record of $567 million.'" - John Holmes

AIR

AAR Corp

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Apr 20, 2026

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Executive Summary

In Q3 2024, AAR Corp achieved record revenues of $567 million, representing a substantial year-over-year increase of 9% from $521 million in Q3 2023. This performance is attributed to robust growth in commercial salesâ€”up 18%â€”which more than compensated for a 7% decline in government sales. Management is optimistic about the integration of the recently acquired Triumph Product Support business, which is expected to bolster the Repair & Engineering segment and enhance profitability through strategic operational efficiencies. The company's continued investment in growth areas and competitive positioning appears set to deliver further improvements in revenue and margins moving forward.

Key Performance Indicators

Revenue

Increasing

567.30M

QoQ: 4.02% | YoY: 8.87%

Gross Profit

Increasing

110.30M

19.44% margin

QoQ: 6.67% | YoY: 16.97%

Operating Income

Decreasing

33.00M

QoQ: -13.84% | YoY: -2.94%

Net Income

Decreasing

14.00M

QoQ: -41.18% | YoY: -35.78%

EPS

Decreasing

0.40

QoQ: -40.30% | YoY: -36.51%

Revenue Trend

Margin Analysis

Financial Highlights

Financial Metrics:
Revenue: $567 million, YoY Growth: 9%, QoQ Growth: 4.2%
Gross Profit: $110.3 million, Gross Profit Margin: 19.4%
Operating Income: $33 million, Operating Margin: 5.8%
Net Income: $14 million, Net Margin: 2.5%
EPS: $0.40, Diluted EPS: $0.39
Cash Flow from Operations: $20 million, Free Cash Flow: $13 million.
Balance Sheet Strength:
Total Assets: $2.0218 billion, Total Liabilities: $853.8 million, Total Equity: $1.168 billion
Debt-to-Equity Ratio: 0.298
Net Leverage Ratio: 0.95 times adjusted EBITDA, indicating strong balance sheet health despite acquisition financing through new debt.
Forward Guidance: Management anticipates mid- to high-teens revenue growth for Q4 2024, including approximately $65-$70 million from the recent acquisition, projecting adjusted operating margins to reach about 9%.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	567.30M	8.87%	4.02%
Gross Profit	110.30M	16.97%	6.67%
Operating Income	33.00M	-2.94%	-13.84%
Net Income	14.00M	-35.78%	-41.18%
EPS	0.40	-36.51%	-40.30%

Key Financial Ratios

Gross Profit Margin

Weak

19.40%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Fair

7.51%

Operating margin is moderate, room for improvement in cost management

Net Profit Margin

Weak

2.47%

Net profit margin is below industry norms, profitability concerns

Return on Assets

Weak

0.69%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

1.20%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

2.90

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Conservative

0.30

Debt-to-equity shows conservative leverage and low financial risk

P/E Ratio

High Growth

41.50x

Very high P/E indicates aggressive growth expectations, higher risk

Price to Book

Fair Value

1.99x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2026	795.30	0.89	+20.2%	View
Q1 2026	739.60	0.95	+12.7%	View
Q3 2025	678.20	-0.25	+19.6%	View
Q2 2025	686.10	-0.51	+25.8%	View
Q1 2025	661.70	0.50	+20.4%	View
Q3 2024	567.30	0.39	+8.9%	View

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AAR Corp (AIR) Q3 2024 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Historical Earnings Comparison

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