In the fourth quarter of fiscal year 2024, AAR Corp (AIR) reported a record revenue of $657 million, representing a 19% increase year-over-year (YoY). This performance was driven by strong execution across its core segments along with the strategic acquisition of Triumph Product Support. The adjusted operating margin saw a significant improvement of 150 basis points, concluding at 9.3% for the quarter, indicative of AAR's effective cost management strategies and operational efficiencies. Looking forward, management anticipates continued revenue growth of 15% to 19% in Q1 FY 2025 and provides a robust outlook with expectations to achieve adjusted operating margins between 10.5% and 11.5% over the next few years. This aligns with AAR's strategic initiatives, enhanced market position, and investment in key growth segments such as Parts Supply and Integrated Solutions.