By Dean Seal
AAR recorded a big jump in sales during its fiscal second quarter with gains from both commercial and government customers.
The aviation services company posted a loss of $30.6 million, or 87 cents a share, for the three months ended Nov. 30, compared with a profit of $23.8 million, or 67 cents a share, in the same quarter a year ago.
The bottom line included $57.1 million in after-tax charges from the company's recent settlement of corruption-related investigations brought by the Justice Department and the Securities and Exchange Commission.
Stripping out one-time items, adjusted earnings were 90 cents a share. Analysts polled by FactSet had been expecting 85 cents a share.
Sales rose 26% to $686 million, handily topping analyst projections for $654 million, according to FactSet.
The company said revenue from commercial customers, which makes up about 73% of its top line, was up 30% from the acquisition of the AAR's product support business and strong demand in its parts supply segment.
Sales to the government customers meanwhile increased 16% on higher order volume for new parts distribution activities.
Shares rise 5.4% to $65.10 in aftermarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 07, 2025 16:21 ET (21:21 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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