$1.81 billion acquisition bolsters Honeywell's energy transition capabilities through end-to-end offering for customers worldwide Enhances Honeywell's Energy and Sustainability Solutions business with addition of ~475 skilled employees focused on driving the energy transition Creates new opportunities for diversified growth and innovation in Honeywell's aftermarket services and softwareCHARLOTTE, N.C., Sept. 30, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced the completion of its acquisition o ...

If you want full access to all our reports, data and investing ideas, join The Aerospace Forum , the #1 aerospace, defense and airline investment research service on Seeking Alpha, with access to evoX Data Analytics, our in-house developed data analytics platform.I started covering AAR Corp. (NYSE: AIR ) in September 2023, and while I have seen many names that I covered over the past year outperform the markets, AAR was not one of them. The stock gained onlyDhierin runs the investing group The Aerospace For ...

WOOD DALE, Ill., Sept. 26, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has been awarded a five-year indefinite delivery / indefinite quantity contract with an aggregate ceiling value of approximately $1.2 billion by the U.S. Navy's Naval Air Systems Command (NAVAIR) to perform engine depot maintenance and repair for its P-8A Poseidon Aircraft fleet. This new award follows a recently announced award under which AA ...

BERKSHIRE, England, Sept. 25, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR) subsidiary Airinmar, a leading independent provider of component repair cycle management and aircraft warranty solutions, has signed an extension with Singapore Airlines.The extension utilizes Airinmar's full scope of repair cycle management services, including repair order, quote, and turnaround time (TAT) management; repair cost value engineering; component warranty recovery; and TAT guarantee enforcement. Airinmar will also continue ...

AAR Corp. (AIR) reported first-quarter fiscal 2025 adjusted earnings of 85 cents per share, which surpassed the Zacks Consensus Estimate of 82 cents by 3.7%. The bottom line improved 9% from the year-ago quarter’s level.The company reported GAAP earnings per share (EPS) of 50 cents against a loss of 2 cents in the prior-year quarter.The year-over-year improvement in the bottom line can be attributed to improved sales growth as well as operating income.Total SalesIn the quarter under review, AAR generated ne ...

AAR Corp. (NYSE:AIR) Q1 2025 Earnings Conference Call September 23, 2024 5:00 PM ET Company Participants John Holmes - Chairman, President and CEO Sean Gillen - Chief Financial Officer Conference Call Participants Scott Mikus - Melius Research Michael Ciarmoli - Truist Securities Kenneth Herbert - RBC Capital Markets Louie DiPalma - William Blair Operator Good afternoon, everyone, and welcome to AAR's Fiscal 2025 First Quarter Earnings Call. We're joined today by John Holmes, Chairman, President, and Chief ...

AAR (AIR) came out with quarterly earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.82 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.66%. A quarter ago, it was expected that this airplane maintenance company would post earnings of $0.86 per share when it actually produced earnings of $0.88, delivering a surprise of 2.33%.Over the last four quarters, the co ...

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Financial Performance - First quarter sales of $662 million, up 20% over the prior year[1] - First quarter GAAP diluted earnings per share of $0.50 compared to a loss per share of $0.02 in Q1 FY2024[1] - First quarter adjusted diluted earnings per share of $0.85, up 9% from $0.78 in Q1 FY2024[1] - Sales growth of 20% in both commercial and government businesses[2] - Net income improved to $18.0 million from a loss of $0.6 million in the prior year period[13] - Third-party sales increased to $661.7 million from $549.7 million, a 20.4% growth[14] - Adjusted net income rose to $30.3 million from $27.3 million, an 11.0% increase[18] - Adjusted diluted earnings per share increased to $0.85 from $0.78, a 9.0% rise[19] - Sales for the three months ended August 31, 2024, were $661.7 million, compared to $656.5 million for the same period in 2023, representing a 0.8% increase[20] - Adjusted operating income for the three months ended August 31, 2024, was $59.2 million, compared to $61.3 million for the same period in 2023, a decrease of 3.4%[20] - Adjusted EBITDA for the three months ended August 31, 2024, was $73.7 million, compared to $52.1 million for the same period in 2023, a 41.5% increase[21] - Adjusted EBITDA for the twelve months ended August 31, 2024, was $264.0 million, compared to $242.4 million for the year ended May 31, 2024, an 8.9% increase[23] - Pro forma adjusted EBITDA for the twelve months ended August 31, 2024, was $284.4 million, including $20.4 million from Product Support for the six months ended February 29, 2024[24] Operating Margins and Expenses - Operating margins were 6.6% in the current quarter, compared to 4.6% in the prior year quarter[4] - Adjusted operating margin increased from 7.3% in the prior year quarter to 9.1% in the current year quarter[4] - Net interest expense for the quarter was $18.3 million, compared to $5.4 million last year[4] - Adjusted operating margin for the three months ended August 31, 2024, was 9.1%, compared to 9.3% for the same period in 2023, a slight decrease of 0.2 percentage points[20] Cash Flow and Debt - Cash flow used in operating activities was $18.6 million during the current quarter compared to $18.7 million in the prior year quarter[6] - Net debt was $942.7 million as of August 31, 2024[6] - Cash and cash equivalents decreased to $49.3 million from $85.8 million, a 42.5% decline[12] - Net cash used in operating activities was $18.6 million, similar to $18.7 million in the prior year[13] - Net debt as of August 31, 2024, was $942.7 million, compared to $236.7 million as of August 31, 2023, a significant increase of 298.3%[22] - Net debt to pro forma adjusted EBITDA ratio as of August 31, 2024, was 3.31, indicating a higher leverage position compared to previous periods[24] - Cash flows used in operating activities for the three months ended August 31, 2024, were $(18.6) million, slightly improved from $(18.7) million for the same period in 2023[21] - Total debt as of August 31, 2024, was $992.0 million, compared to $307.0 million as of August 31, 2023, a 223.1% increase[22] Segment Performance - Parts Supply segment sales grew to $249.7 million from $236.8 million, a 5.4% increase[14] - Repair & Engineering segment sales surged to $217.6 million from $137.5 million, a 58.3% jump[14] Contracts and Receivables - Received multiple new contract awards, including two five-year firm fixed price IDIQ contracts with an aggregate ceiling value of approximately $1.2 billion each from the U.S. Navy's NAVAIR[4] - Accounts receivable increased to $310.9 million from $287.2 million, an 8.2% rise[12] Assets and Liabilities - Total assets remained stable at $2,783.3 million compared to $2,770.0 million in the prior quarter[12]

First quarter sales of $662 million, up 20% over the prior yearFirst quarter GAAP diluted earnings per share of $0.50 compared to a loss per share of $0.02 in Q1 FY2024First quarter adjusted diluted earnings per share of $0.85, up 9% from $0.78 in Q1 FY2024Sales growth of 20% in both our commercial and government businessesWOOD DALE, Ill., Sept. 23, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today reported first ...