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AAR Corp. (AIR) Q1 Earnings Beat Estimates, Sales Fall Y/Y
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AAR Corp. (AIR - Free Report) reported first-quarter fiscal 2021 adjusted earnings of 17cents per share in contrast to the Zacks Consensus Estimate of a loss of 16 cents. The figure reflected a year-over-year decline of 70.2% from earnings of 57 cents registered in the year-ago quarter.
Excluding one-time items, the company reported a loss of 40 cents per share from continuing operations against earnings of 49 cents in first-quarter fiscal 2020.
Total Sales
In the quarter under review, net sales totaled $400.8 million. The reported figure outpaced the Zacks Consensus Estimate of $382 million by 3.5% but plunged 26% from $541.5 million recorded in the year-ago quarter.
The year-over-year decline in sales was due to the continued impact of COVID-19 outbreak.
Ducommun has an average earnings surprise of 60.22% in the trailing four quarters. The Zacks Consensus Estimate for the company’s 2021 earnings indicates year-over-year growth of 8.9%.
Teledyne delivered an average earnings surprise of 11.70% in the trailing four quarters. The Zacks Consensus Estimate for the company’s 2021 earnings indicates year-over-year growth of 16.5%.
CurtissWright has an average earnings surprise of 3.60% in the trailing four quarters. The Zacks Consensus Estimate for the company’s 2021 earnings indicates year-over-year growth of 9%.
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AAR Corp. (AIR) Q1 Earnings Beat Estimates, Sales Fall Y/Y
AAR Corp. (AIR - Free Report) reported first-quarter fiscal 2021 adjusted earnings of 17cents per share in contrast to the Zacks Consensus Estimate of a loss of 16 cents. The figure reflected a year-over-year decline of 70.2% from earnings of 57 cents registered in the year-ago quarter.
Excluding one-time items, the company reported a loss of 40 cents per share from continuing operations against earnings of 49 cents in first-quarter fiscal 2020.
Total Sales
In the quarter under review, net sales totaled $400.8 million. The reported figure outpaced the Zacks Consensus Estimate of $382 million by 3.5% but plunged 26% from $541.5 million recorded in the year-ago quarter.
The year-over-year decline in sales was due to the continued impact of COVID-19 outbreak.
AAR Corp. Price, Consensus and EPS Surprise
AAR Corp. price-consensus-eps-surprise-chart | AAR Corp. Quote
Segment Details
In the fiscal first quarter, sales at the Aviation Services segment totaled $363.6 million, down 29% year over year.
Expeditionary Services garnered sales of $37.2 million, up 25.3% from $29.7 million in the year-ago quarter.
Highlights of the Release
AAR Corp’s cost of sales in the reported quarter fell23.4% year over year to $352.2 million.
Selling, general and administrative expenses declined 22% to $45.3 million.
The company incurred interest expenses of $1.6 million compared with $2.1 million in first-quarter fiscal 2020.
During the quarter under review, the company paid out cash dividends of $0.1 million.
Financial Condition
As of Aug 31, 2020, AAR Corp’s cash and cash equivalents amounted to $10.7 million compared with $404.7 million as of May 31, 2020.
As of Aug 31, 2020, net property, plant and equipment expenses totaled$127 million compared with $135.7 million as of May 31, 2020.
As of Aug 31, 2020, total debt decreased to $149.3 million from $197.3 million as of May 31, 2020.
Zacks Rank
AAR Corp. currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Industry Players
Other industry participants include Ducommun Incorporated (DCO - Free Report) , Teledyne Technologies (TDY - Free Report) and CurtissWright Corporation (CW - Free Report) .
Ducommun has an average earnings surprise of 60.22% in the trailing four quarters. The Zacks Consensus Estimate for the company’s 2021 earnings indicates year-over-year growth of 8.9%.
Teledyne delivered an average earnings surprise of 11.70% in the trailing four quarters. The Zacks Consensus Estimate for the company’s 2021 earnings indicates year-over-year growth of 16.5%.
CurtissWright has an average earnings surprise of 3.60% in the trailing four quarters. The Zacks Consensus Estimate for the company’s 2021 earnings indicates year-over-year growth of 9%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>