Financial Performance - Record fourth quarter sales of $657 million, up 19% over the prior year[1] - Fourth quarter adjusted diluted earnings per share from continuing operations of $0.88, up 6% from $0.83 in Q4 FY2023[1] - Full year consolidated sales were $2.3 billion, an increase of 17% from fiscal year 2023[7] - Sales to commercial customers increased 20% over the prior year quarter, representing 70% of consolidated sales[2] - Adjusted operating margin increased from 7.5% in fiscal year 2023 to 8.3% in fiscal year 2024[7] - Operating margins were 5.6% for the full year, compared to 6.7% in fiscal year 2023[7] - Total third-party sales for the three months ended May 31, 2024, reached $656.5 million, up from $553.3 million in the same period of 2023, with year-to-date sales increasing to $2,318.9 million from $1,990.5 million[17] - Adjusted diluted earnings per share from continuing operations increased to $0.88 for the three months ended May 31, 2024, up from $0.83 in the same period last year, representing a 6.0% growth[23] - Adjusted operating margin improved to 9.3% for the three months ended May 31, 2024, compared to 8.3% for the same period in 2023[24] - Adjusted EBITDA for the three months ended May 31, 2024, was $76.4 million, significantly higher than $53.0 million for the same period in 2023, marking a 44.0% increase[25] - Total sales for the year ended May 31, 2024, reached $2,318.9 million, compared to $1,990.5 million for the year ended May 31, 2023, indicating a 16.5% growth[24] Cash Flow and Liquidity - Cash flow provided by operating activities from continuing operations was $43.8 million in fiscal year 2024[9] - Cash flows provided by operating activities from continuing operations were $24.5 million for the three months ended May 31, 2024, compared to $45.3 million in the same period of 2023[16] - The company’s cash and cash equivalents increased to $85.8 million, compared to $68.4 million in the prior year, showing better liquidity[15] - The company’s cash and cash equivalents at the end of the period were $96.1 million, up from $81.8 million at the beginning of the period, indicating improved liquidity[16] Debt and Interest Expense - Net interest expense for the quarter was $18.7 million, compared to $4.7 million last year[5] - Long-term debt increased to $985.4 million as of May 31, 2024, compared to $269.7 million in the prior year, reflecting a significant rise[15] - Net debt increased significantly to $911.2 million as of May 31, 2024, compared to $203.6 million in the previous year[26] - Total debt as of May 31, 2024, was $997.0 million, a significant increase from $272.0 million in 2023[26] - The ratio of net debt to adjusted EBITDA rose to 3.76 as of May 31, 2024, compared to 1.07 in the prior year[27] - The net debt to pro forma adjusted EBITDA ratio was reported at 3.30[28] Profitability and Expenses - Gross profit for the three months ended May 31, 2024, was $127.3 million, representing a 17.8% increase compared to $108.1 million in the prior year[14] - Selling, general and administrative expenses rose to $94.8 million, up 33.9% from $70.8 million in the same period last year, impacting overall profitability[14] - The company incurred a pension settlement charge of $26.7 million during the year ended May 31, 2024, impacting overall financial performance[16] - Acquisition, integration, and amortization expenses for the three months ended May 31, 2024, were $18.6 million, up from $5.1 million in the same period last year[22] - Investigation and remediation compliance costs increased to $4.8 million for the three months ended May 31, 2024, compared to $1.6 million for the same period in 2023[22] Segment Performance - Operating income for the Parts Supply segment increased to $35.2 million for the three months ended May 31, 2024, compared to $29.0 million in the same period of 2023, contributing to a year-to-date operating income of $109.8 million versus $93.7 million[18] - The Parts Supply segment generated $260.3 million in sales for the three months ended May 31, 2024, compared to $238.6 million in the same period of 2023, indicating a growth trend[17] - The Repair & Engineering segment saw sales increase to $216.4 million for the three months ended May 31, 2024, from $143.0 million in the same period of 2023, reflecting strong demand[17] Earnings and Adjustments - Net income for the three months ended May 31, 2024, was $9.1 million, a decrease of 60.8% from $23.2 million in the same period last year[14] - The company reported a basic earnings per share of $0.26 for the three months ended May 31, 2024, down from $0.67 in the same period last year[14] - Net income for the three months ended May 31, 2024, was $9.1 million, a decrease from $23.2 million for the same period in 2023, while the year-to-date net income was $46.3 million compared to $90.2 million in the previous year[16] - Adjusted income from continuing operations for the three months ended May 31, 2024, was $31.3 million, compared to $29.1 million for the same period in 2023, reflecting a 7.6% increase[22] - Adjusted EBITDA for the year ended May 31, 2024, was reported at $242.4 million, up from $189.8 million in 2023[27] - Pro forma adjusted EBITDA, including product support, reached $275.9 million for the year ended May 31, 2024[28] - Adjusted EBITDA reflects income from continuing operations before interest, taxes, depreciation, and amortization, with adjustments for various unusual items, providing a clearer view of core operating performance[21]

AAR Corp. (NYSE:AIR) Q3 2024 Earnings Conference Call March 21, 2024 4:45 PM ET Company Participants John Holmes - Chairman, President and CEO Sean Gillen - Chief Financial Officer Conference Call Participants Robert Spingarn - Melius Research Bert Subin - Stifel Josh Sullivan - The Benchmark Company Sam Struhsaker - Truist Securities Steve Strackhouse - RBC Capital Markets Louie DiPalma - William Blair Operator Good afternoon, everyone. Welcome to AAR’s Fiscal 2024 Third Quarter Earnings Call. We’re joined ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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 February 29, 2024 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 ...

Exhibit 99.1 AAR reports third quarter fiscal year 2024 results Wood Dale, Illinois, March 21, 2024 — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today reported third quarter fiscal year 2024 consolidated sales of $567.3 million and income from continuing operations of $14.0 million, or $0.39 per diluted share. For the third quarter of the prior year, the Company reported sales of $521.1 million and income from continuing operations ...

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 ...

AAR Corp. (NYSE:AIR) Q4 2023 Earnings Conference Call July 18, 2023 4:45 PM ET Company Participants John Holmes - Chairman, President and CEO Sean Gillen - CFO Conference Call Participants Peter Osterland - Truist Securities Kenneth Herbert - RBC Capital Markets Joshua Sullivan - The Benchmark Company Robert Spingarn - Melius Research Operator Good afternoon, everyone, and welcome to AAR's Fiscal 2023 Fourth Quarter Earnings Call. We're joined today by John Holmes, Chairman, President and Chief Executive Of ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended May 31, 2023 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) Delaware (State or other jurisdiction of incorporati ...