AAR: Fiscal 2Q Earnings Snapshot
WOOD DALE, Ill. (AP) _ AAR Corp. (AIR) on Tuesday reported fiscal second-quarter net income of $7 million, after reporting a loss in the same period a year earlier.
The Wood Dale, Illinois-based company said it had profit of 20 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 59 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The airplane maintenance company posted revenue of $493.3 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $502.1 million.
AAR shares have increased 8 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $42.47, a drop of nearly 2 percent in the last 12 months.