AAR Corp. (AIR - Free Report) reported fourth-quarter fiscal 2020 adjusted earnings of 26 cents per share, while the Zacks Consensus Estimate was pegged at a loss of 24 cents. The figure reflected a year-over-year decline of 59.4% from earnings of 64 cents registered in the year-ago quarter.
Excluding one-time items, the company reported a loss of 43 cents per share from continuing operations compared with 76 cents in fourth-quarter fiscal 2019.
AAR Corp’s adjusted earnings for fiscal 2020 came in at 71 cents per share, which lagged the Zacks Consensus Estimate of $1.65 by 57% and the year-ago earnings of $2.40.
Total Sales
In the quarter under review, net sales totaled $416.5 million. The reported figure outpaced the Zacks Consensus Estimate of $326 million by 27.8% but plunged 26% from $562.7 million recorded in the year-ago quarter.
The year-over-year decline in sales was due to the impact of COVID-19 and the unprecedented grounding of all commercial fleet.
AAR Corp’s full-year sales came to $2.07 billion, up 1% from $2.05 billion reported in the year-ago quarter.
Segment Details
In the fiscal fourth quarter, sales at the Aviation Services segment summed $390.1 million, down25.3% year over year.
Expeditionary Services garnered sales of $26.4 million, down 35.1% from $40.7 million in the year-ago quarter.
AAR Corp. Price, Consensus and EPS Surprise
Financial Condition
As of May 31, 2020, AAR Corp’s cash and cash equivalents amounted to $404.7 million compared with $21.3 million as of May 31, 2019.
As of May 31, 2020, net property, plant and equipment expenses totaled$135.7 million compared with $132.8 million as of May 31, 2019.
As of May 31, 2020, total debt decreased to $602 million from $142.9 million as of May 31, 2019.
Zacks Rank
AAR Corp. currently has a Zacks Rank #4 (Sell).
A Recent Defense Release
Lockheed Martin Corp. (LMT - Free Report) reported second-quarter 2020 adjusted earnings of $6.13 per share, which surpassed the Zacks Consensus Estimate of $5.71 by 7.4%.
Upcoming Defense Releases
Northrop Grumman (NOC - Free Report) , carrying a Zacks Rank #3 (Hold), will release its results on Jul 30. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boeing (BA - Free Report) , carrying a Zacks Rank #4, will release its results on Jul 29.
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AAR Corp. (AIR - Free Report) reported fourth-quarter fiscal 2020 adjusted earnings of 26 cents per share, while the Zacks Consensus Estimate was pegged at a loss of 24 cents. The figure reflected a year-over-year decline of 59.4% from earnings of 64 cents registered in the year-ago quarter.
Excluding one-time items, the company reported a loss of 43 cents per share from continuing operations compared with 76 cents in fourth-quarter fiscal 2019.
AAR Corp’s adjusted earnings for fiscal 2020 came in at 71 cents per share, which lagged the Zacks Consensus Estimate of $1.65 by 57% and the year-ago earnings of $2.40.
Total Sales
In the quarter under review, net sales totaled $416.5 million. The reported figure outpaced the Zacks Consensus Estimate of $326 million by 27.8% but plunged 26% from $562.7 million recorded in the year-ago quarter.
The year-over-year decline in sales was due to the impact of COVID-19 and the unprecedented grounding of all commercial fleet.
AAR Corp’s full-year sales came to $2.07 billion, up 1% from $2.05 billion reported in the year-ago quarter.
Segment Details
In the fiscal fourth quarter, sales at the Aviation Services segment summed $390.1 million, down25.3% year over year.
Expeditionary Services garnered sales of $26.4 million, down 35.1% from $40.7 million in the year-ago quarter.
AAR Corp. Price, Consensus and EPS Surprise
Financial Condition
As of May 31, 2020, AAR Corp’s cash and cash equivalents amounted to $404.7 million compared with $21.3 million as of May 31, 2019.
As of May 31, 2020, net property, plant and equipment expenses totaled$135.7 million compared with $132.8 million as of May 31, 2019.
As of May 31, 2020, total debt decreased to $602 million from $142.9 million as of May 31, 2019.
Zacks Rank
AAR Corp. currently has a Zacks Rank #4 (Sell).
A Recent Defense Release
Lockheed Martin Corp. (LMT - Free Report) reported second-quarter 2020 adjusted earnings of $6.13 per share, which surpassed the Zacks Consensus Estimate of $5.71 by 7.4%.
Upcoming Defense Releases
Northrop Grumman (NOC - Free Report) , carrying a Zacks Rank #3 (Hold), will release its results on Jul 30. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boeing (BA - Free Report) , carrying a Zacks Rank #4, will release its results on Jul 29.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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