We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AAR Corp. (AIR - Free Report) reported second-quarter fiscal 2022 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 52 cents by1.9%. Earnings recorded a solid surge of 71% from the year-ago quarter.
The company reported GAAP earnings per share (EPS) of 58 cents in the reported quarter compared with 41 cents generated in the prior-year quarter.
Total Sales
In the quarter under review, AAR Corp generated net sales worth $436.6 million. The reported figure missed the Zacks Consensus Estimate of $443 million by 1.4% but rose 8.2% from $403.6 million recorded in the year-ago quarter.
CurtissWright Corporation Price, Consensus and EPS Surprise
In the fiscal second quarter, sales at the Aviation Services segment totaled $419.3 million, up 8.9% year over year.
Expeditionary Services recorded sales of $17.3 million, down 7% from $18.6 million in the year-ago quarter.
Operational Update
Adjusted gross profit margin in the reported quarter increased to 16.7% from 13.9% in the prior-year quarter. The margin expansion was the result of favorable impacts of the company’s efforts to reduce costs and increase operational efficiency.
SG&A expenses rose 8.3% to $47.1 million in the fiscal second quarter, mainly due to the restoration of temporary compensation reductions that took place last year. Adjusted operating margin increased to 6.1% from 4% in the prior-year quarter. AIR incurred interest expenses of $0.4 million in the fiscal second quarter as compared with $1.3 million in the year-ago quarter.
Financial Details
As of Nov 30, 2021, AAR Corp’s cash and cash equivalents amounted to $42.7 million compared with$51.8 million as of May 31, 2021.
AAR Corp reported long-term debt of $103.2 million as of Nov 30, 2021, down from $133.7 million as of May 31, 2021.
Curtiss-Wright (CW - Free Report) reported third-quarter 2021 adjusted earnings of $1.88 per share, which surpassed the Zacks Consensus Estimate of $1.80 by 4.4%. Curtiss-Wright’s total sales exceeded the Zacks Consensus Estimate of $601 million by 3.3%.
Curtiss-Wright updated its financial guidance for 2021 and now expects adjusted earnings in the range of $7.20-$7.35 per share compared with the prior-guided range of $7.15-$7.35. In the past year, CW has returned 3.3%.
Raytheon Technologies’(RTX - Free Report) third-quarter 2021 adjusted EPS of $1.26 outpaced the Zacks Consensus Estimate of $1.07 by 17.8%. Raytheon Technologies’ third-quarter sales of $16,213 million missed the Zacks Consensus Estimate of $16,494 million by 1.7%.
Raytheon Technologies raised the earnings guidance for 2021 and tweaked the revenue expectations. The company currently projects adjusted EPS in the range of $4.10-$4.20 compared with the earlier guidance of $3.85-$4.00. It expects to record revenues worth approximately $64.50 billion compared with its earlier projection of $64.4-$65.4billion. In the past year, RTX has returned 18.3%.
Hexcel Corporation (HXL - Free Report) reported third-quarter 2021 adjusted earnings of 13 cents per share, which exceeded the Zacks Consensus Estimate of 8 cents by 62.5%. Net sales for Hexcel Corporation totaled $333.8 million, which missed the Zacks Consensus Estimate of $353 million by 5.3%.
Hexcel continues to withhold its financial guidance due to the market uncertainties arising from the global pandemic. The Zacks Consensus Estimate for 2021has increased 13.6% to 25 cents per share in the last 60 days. HXL has returned 4% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
AAR Corp (AIR) Q2 Earnings Beat Estimates, Sales Rise Y/Y
AAR Corp. (AIR - Free Report) reported second-quarter fiscal 2022 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 52 cents by1.9%. Earnings recorded a solid surge of 71% from the year-ago quarter.
The company reported GAAP earnings per share (EPS) of 58 cents in the reported quarter compared with 41 cents generated in the prior-year quarter.
Total Sales
In the quarter under review, AAR Corp generated net sales worth $436.6 million. The reported figure missed the Zacks Consensus Estimate of $443 million by 1.4% but rose 8.2% from $403.6 million recorded in the year-ago quarter.
CurtissWright Corporation Price, Consensus and EPS Surprise
CurtissWright Corporation price-consensus-eps-surprise-chart | CurtissWright Corporation Quote
Segment Details
In the fiscal second quarter, sales at the Aviation Services segment totaled $419.3 million, up 8.9% year over year.
Expeditionary Services recorded sales of $17.3 million, down 7% from $18.6 million in the year-ago quarter.
Operational Update
Adjusted gross profit margin in the reported quarter increased to 16.7% from 13.9% in the prior-year quarter. The margin expansion was the result of favorable impacts of the company’s efforts to reduce costs and increase operational efficiency.
SG&A expenses rose 8.3% to $47.1 million in the fiscal second quarter, mainly due to the restoration of temporary compensation reductions that took place last year. Adjusted operating margin increased to 6.1% from 4% in the prior-year quarter. AIR incurred interest expenses of $0.4 million in the fiscal second quarter as compared with $1.3 million in the year-ago quarter.
Financial Details
As of Nov 30, 2021, AAR Corp’s cash and cash equivalents amounted to $42.7 million compared with$51.8 million as of May 31, 2021.
AAR Corp reported long-term debt of $103.2 million as of Nov 30, 2021, down from $133.7 million as of May 31, 2021.
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.
Defense Releases
Curtiss-Wright (CW - Free Report) reported third-quarter 2021 adjusted earnings of $1.88 per share, which surpassed the Zacks Consensus Estimate of $1.80 by 4.4%. Curtiss-Wright’s total sales exceeded the Zacks Consensus Estimate of $601 million by 3.3%.
Curtiss-Wright updated its financial guidance for 2021 and now expects adjusted earnings in the range of $7.20-$7.35 per share compared with the prior-guided range of $7.15-$7.35. In the past year, CW has returned 3.3%.
Raytheon Technologies’(RTX - Free Report) third-quarter 2021 adjusted EPS of $1.26 outpaced the Zacks Consensus Estimate of $1.07 by 17.8%. Raytheon Technologies’ third-quarter sales of $16,213 million missed the Zacks Consensus Estimate of $16,494 million by 1.7%.
Raytheon Technologies raised the earnings guidance for 2021 and tweaked the revenue expectations. The company currently projects adjusted EPS in the range of $4.10-$4.20 compared with the earlier guidance of $3.85-$4.00. It expects to record revenues worth approximately $64.50 billion compared with its earlier projection of $64.4-$65.4billion. In the past year, RTX has returned 18.3%.
Hexcel Corporation (HXL - Free Report) reported third-quarter 2021 adjusted earnings of 13 cents per share, which exceeded the Zacks Consensus Estimate of 8 cents by 62.5%. Net sales for Hexcel Corporation totaled $333.8 million, which missed the Zacks Consensus Estimate of $353 million by 5.3%.
Hexcel continues to withhold its financial guidance due to the market uncertainties arising from the global pandemic. The Zacks Consensus Estimate for 2021has increased 13.6% to 25 cents per share in the last 60 days. HXL has returned 4% in the past year.