Key Takeaways ATRO is benefiting from rising defense spending and airline investments in connectivity and cabin upgrades.ATRO reported preliminary 2025 revenues near $860M, with strong bookings supporting growth into 2026.AAR is benefiting from solid MRO demand, facility expansion and Trax technology upgrades.Rising global aircraft deliveries, expanding airline fleet and growing demand for maintenance, repair and overhaul services are driving growth across the aviation services industry. These trends, suppo ...

Core Viewpoint - Dell Technologies Inc. is positioned as a significant player in the global technology market, with a strong focus on integrated solutions and a promising outlook for earnings growth in the upcoming fiscal quarters [1][2][3]. Financial Performance - Dell is expected to announce its fiscal Q4 2026 results soon, with analysts forecasting an EPS of $3.29, representing a growth of nearly 36% from $2.42 in the same quarter last year [2]. - For the entire fiscal 2026, analysts predict an EPS of $9.10, which is a surge of 21.7% from $7.48 in fiscal 2025 [3]. Stock Performance - Over the past 52 weeks, Dell's shares have declined slightly, underperforming compared to the S&P 500 Index's 12.8% rise and the State Street Technology Select Sector SPDR ETF's 20.9% return [4]. - Following the Q3 2026 results announcement, Dell's shares increased by 5.8%, with revenue reported at $27 billion and adjusted EPS reaching a record $2.59 [5]. AI Momentum - Dell has demonstrated strong momentum in the AI sector, with record AI server orders of $12.3 billion in Q3 and total AI orders year-to-date reaching $30 billion. The company has raised its full-year AI shipment guidance to $25 billion, reflecting an increase of over 150% [5]. Analyst Ratings - The consensus view among analysts on Dell's stock is cautiously optimistic, with a "Moderate Buy" rating overall. Out of 23 analysts, 15 recommend a "Strong Buy," two a "Moderate Buy," five "Holds," and one "Strong Sell" [6]. - The average analyst price target for Dell Technologies is $164.43, indicating a potential upside of 47.1% from current levels [6].

Financial Performance - Sales increased by 16% from Q2 FY25 to Q2 FY26[9] - Adjusted EBITDA increased by 23% from Q2 FY25 to Q2 FY26[9] - Adjusted EPS increased by 31% from Q2 FY25 to Q2 FY26[9] - Parts Supply sales increased by 29% from Q2 FY25 to Q2 FY26[28] - Integrated Solutions sales increased by 8% from Q2 FY25 to Q2 FY26[38] - Adjusted operating margin increased from 92% to 102%[24] Acquisitions and Strategic Initiatives - Acquired ADI, a distributor of electronic components and assemblies, with $149 million in sales and $15 million in EBITDA[9, 13] - Acquired HAECO Americas, the 2nd largest independent North American heavy maintenance provider, securing $850 million+ in new multi-year contracts[9, 15] - Announced an agreement to acquire Aircraft Reconfig Technologies for $35 million[9, 20] Balance Sheet and Leverage - Net leverage decreased by 109x since the Product Support acquisition[41] - The company is targeting a net leverage ratio of 20x – 25x[42, 46] Guidance - Q3 FY26 total sales growth is projected to be 20%-22%, with organic sales growth of 8%-11%[53]

Core Viewpoint - Concentrix Corporation reported an earnings per share (EPS) of $2.78, which was below the expected $2.88, indicating a negative surprise of 3.47% [1]. Financial Performance - The actual revenue for the quarter ending August 2025 was approximately $2.48 billion, slightly below the forecasted $2.53 billion, but it exceeded the Zacks Consensus Estimate by 1.02% [2]. - Revenue grew by 4% compared to $2.39 billion in the same quarter of the previous year, and on a constant currency basis, it increased by 2.6% [2]. - Operating income for the quarter was $147 million, representing 5.9% of the revenue, highlighting operational efficiency [5]. Stock Market Reaction - Following the earnings report, Concentrix's stock price experienced a decline, and the company adjusted its fiscal 2025 earnings guidance downwards [3]. Shareholder Returns - Concentrix plans to return over $240 million to shareholders in fiscal 2025 and has announced an increase in its quarterly dividend [3]. Valuation Metrics - The company has a price-to-earnings (P/E) ratio of approximately 14.24, a price-to-sales ratio of about 0.36, and an enterprise value to sales ratio of around 0.83 [4]. - The enterprise value to operating cash flow ratio is approximately 11.22, indicating the company's effectiveness in generating cash from operations [4]. - Concentrix's debt-to-equity ratio is approximately 1.14, and its current ratio is about 1.61, reflecting its ability to meet short-term liabilities [5]. - The earnings yield stands at about 7.02%, representing the return on investment [5].

Core Insights - AAR Corp. reported fourth-quarter fiscal 2025 adjusted earnings of $1.16 per share, exceeding the Zacks Consensus Estimate of $1.00 by 16% and improving 31.8% from the previous year's 88 cents per share [1][7] - The company achieved fiscal 2025 adjusted earnings of $3.91 per share, up from $3.33 in the prior year, driven by improved operating efficiency and surpassing the Zacks Consensus Estimate of $3.75 per share [2] Financial Performance - AAR generated net sales of $754.5 million in the fourth quarter, exceeding the Zacks Consensus Estimate of $691 million by 9.2% and increasing 14.9% from $656.5 million in the same quarter last year [3][7] - Total revenues for fiscal 2025 reached $2.78 billion, up from $2.32 billion in fiscal 2024, and also surpassed the Zacks Consensus Estimate of $2.72 billion [3] Segment Performance - In the fourth quarter, the Parts Supply segment reported sales of $305.5 million, a 17.4% increase year over year [4] - Repair & Engineering sales were $222.6 million, up 2.9% from the prior year [4] - Integrated Solutions sales reached $200.1 million, a 22.4% increase from the previous year [4] - Expeditionary Services recorded sales of $26.3 million, up 61.3% year over year [4] Operational Efficiency - AAR's adjusted operating margin improved from 9.3% to 10.5%, attributed to strong growth and a favorable mix in the Parts Supply segment [5][7] - Selling, general and administrative expenses decreased to $77.4 million from $94.8 million a year ago [5] - Net interest expenses for the quarter were $18.4 million, slightly down from $18.7 million in the prior year [5] Cash and Debt Position - As of May 31, 2025, AAR's cash and cash equivalents were $96.5 million, up from $85.8 million a year earlier [6] - The company's long-term debt decreased to $968 million from $985.4 million as of May 31, 2024 [6] Cash Flow - In fiscal 2025, net cash provided from operating activities was $36.1 million, compared to $43.6 million in the previous year [8]