AAR Shares Climb On Better-Than-Expected Q2 Results: Details

Benzinga01-08 05:28

AAR Corp. (NYSE:AIR) reported its second-quarter financial results after Tuesday's closing bell. Here's a look at the details from the report.

The Details: AAR reported quarterly earnings of 90 cents per share, which beat the analyst consensus estimate of 84 cents. Quarterly revenue came in at $686.1 million, which beat the analyst consensus estimate of $654.18 million and is an increase over sales of $545.40 million from the same period last year.

Read Next: Biden Set To Ban Future Offshore Oil Drilling: 4 Stocks, 2 ETFs To Watch

The company also reported organic growth of 12% which accelerated from 6% in the first quarter and cash flow from operating activities of $22 million for the quarter.

“AAR delivered another solid quarter with record sales and improved margins,” said John M. Holmes, AAR’s CEO.

“Our sales grew 26%, underpinned by strong organic growth of 12%, which accelerated from 6% in the first quarter,” Holmes added.

AIR Price Action: According to data from Benzinga Pro, AAR shares are up 5.62% after hours at $65.22 Tuesday.

Read Next:

Kevin O’Leary Joins The People’s Bid For TikTok As Pending Ban Looms

Photo: Courtesy AAR Corp.

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