CHICAGO--(BUSINESS WIRE)--GATX Corporation (NYSE: GATX) today announced the election of John M. Holmes to its board of directors. Mr. Holmes will also serve as a member of the board’s Audit Committee. With the appointment of Mr. Holmes, the GATX board will now consist of 10 members, including nine independent directors. “ We are pleased to welcome John to GATX’s board of directors,” said Robert C. Lyons, president and chief executive officer of GATX. “ John is an outstanding business leader with deep inter ...

Small-cap stocks can help investors diversify from the S&P 500, which is heavily weighted to the largest U.S. tech players. Investors may imagine small-caps as up-and-coming companies focused on increasing their sales and taking market share from rivals, or ones facing binary events, such as drug trials, that can set up windfall profits. But Bill Hench, the head of small-cap investing at First Eagle Investments, takes a value approach, looking for companies that need to be fixed.“We look to get a dollar of ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:AAR Corp. (AIR) provides various products and services to commercial aviation, government, and defense sector. The Zacks Consensus Estimate for its current year earnings has been revised 3.8% downward over the last 60 days.Avanos Medical, Inc. (AVNS) is a medical technology company focusing on delivering medical device solutions. The Zacks Consensus Estimate for its current year earnings has been revised 5.5% downward over the last 60 ...

Core Insights - The market rally that began in late October is expected to continue into 2024, with the S&P 500 index approaching last month's highs and investor sentiment leaning towards a risk-on environment [1][2] - AAR, Grand Canyon Education, and MPW are highlighted as stocks with potential for short-term rebounds due to their low Relative Strength Index (RSI) readings [1][2] AAR Analysis - AAR was at an all-time high just before Christmas but experienced a significant selloff, dropping 25% after a revenue miss and an acquisition announcement for Triumph Group, Inc. at $725 million [1][2] - The stock's RSI fell below 30, indicating it is oversold, and there is potential for a bounce as shares are being bought off their lows [2] Grand Canyon Education Analysis - Grand Canyon Education also faced a decline, dropping 15% post-Christmas due to a lawsuit from the Federal Trade Commission and a risk-based audit by the Veterans Administration [2] - The stock's RSI is at 26, suggesting a potential short-term low, with shares consolidating around $123 [2] MPW Analysis - MPW, a real estate investment trust (REIT) with a portfolio of over 400 properties, has seen its stock decline 85% over the past two years [2] - The stock's RSI is currently at 32, indicating it is nearing all-time lows, and historical patterns suggest a potential bounce when the RSI falls below 30 [3]

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:AAR Corp. (AIR) provides various products and services to commercial aviation, government, and defense sector. The Zacks Consensus Estimate for its current year earnings has been revised 3.8% downward over the last 60 days.AMERISAFE, Inc. (AMSF) is an insurance holding company. The Zacks Consensus Estimate for its current year earnings has been revised 2.4% downward over the last 60 days.Avanos Medical, Inc. (AVNS) is a medical techno ...

This press release may contain certain statements relating to future results, which may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, reflecting management's expectations about future conditions, including the nature of the work that it performs. Forward-looking statements may also be identified because they contain words such as ''anticipate,'' ''believe,'' ''continue,'' ''could,'' ''estimate,'' ''expect,'' ''intend,'' ''likely,'' ''may,'' ' ...

AAR Corp. (NYSE:AIR) Q2 2024 Earnings Conference Call December 21, 2023 4:45 PM ET Company Participants John Holmes - Chairman, President and Chief Executive Officer Sean Gillen - Chief Financial Officer Conference Call Participants Robert Spingarn - Melius Research Bert Subin - Stifel Steve Strackhouse - RBC Capital Markets Operator Good afternoon, everyone. Welcome to AAR’s Fiscal 2024 Second Quarter Earnings Call. We are joined today by John Holmes, Chairman, President and Chief Executive Officer; and Se ...

Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended November 30, 2023 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-6263 AAR CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

Financial Data and Key Metrics Changes - Sales for Q1 2024 increased by 23% year-over-year, rising from $446 million to $559 million [4] - Adjusted operating margin improved to 7.3%, up from 6.9% in the prior year quarter, marking the 10th consecutive quarter of year-over-year margin expansion [5][6] - Adjusted diluted earnings per share from continuing operations reached a record $0.78, up 28% from $0.61 [6] Business Line Data and Key Metrics Changes - Parts Supply sales surged by 40% year-over-year, driven by USM investments and distribution wins [4] - Repair and Engineering sales rose by 8%, supported by strong hangar performance, although landing gear operations experienced a slowdown [5] - Integrated Solutions sales increased by 22%, attributed to higher flight hours in the power-by-the-hour program and government program strength [5] Market Data and Key Metrics Changes - Sales to commercial customers grew by 34%, while sales to government customers increased by 3% [4][9] - Gross profit margin for the quarter was 18.4%, consistent with the prior year quarter on a reported basis [9] Company Strategy and Development Direction - The company is focused on expanding its Parts Supply segment and has made significant investments to support USM demand and distribution lines [6][12] - New multiyear agreements with Moog and Pall Corporation are expected to enhance growth opportunities and customer reach [7][8] - The company anticipates continued strong demand for parts and services, despite potential challenges from low-cost carriers and inflation [13][15] Management's Comments on Operating Environment and Future Outlook - Management expects mid to high teens year-over-year sales growth for Q2, with operating margins similar to or better than the previous year [15] - The company remains optimistic about the aviation industry's growth, despite some signs of slowing demand in certain segments [13] - Management highlighted the importance of maintaining flexibility in response to potential government shutdowns and budgetary constraints [14] Other Important Information - The company reported a net inventory investment of $38 million in the Parts Supply segment to support demand [6][12] - AAR has not purchased parts from a supplier involved in a recent quality incident, emphasizing its commitment to safety and quality [7] Q&A Session Summary Question: Sales growth and future guidance - Management expressed pride in the strong sales growth and indicated that they expect to exceed long-term growth targets in the near term [19] Question: GTF situation impact - The GTF situation is seen as a positive for the company, as it emphasizes the need for current generation aircraft, benefiting AAR's business [20] Question: Distribution margins - Management indicated that distribution margins are expected to be higher than the overall company margin, contributing positively to operating margins [23] Question: Sequential margin decline - A slight sequential decline in margins was attributed to a strong prior quarter and a mix of performance across segments [25] Question: Second quarter guidance - Management expects slight sequential growth in Q2, with less severe seasonality compared to pre-COVID periods [28] Question: Landing gear slowdown - The landing gear business is experiencing a natural decline due to its overhaul cycle, which is expected to pick up again in the future [31] Question: USM material profitability - The company is paying higher prices for USM material but is also able to charge higher prices, maintaining historical spreads [33][34] Question: Aftermarket pricing - Strong pricing is being commanded in the aftermarket, with adjustments being made to maintain profitability amid rising labor costs [37] Question: Labor rate pressures - Labor rates have remained stable, with ongoing negotiations in the airline industry potentially affecting future costs [45]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission File Number: 1-6263 AAR CORP. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 36-2334820 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended August 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Fo ...