AAR Corp’s third-quarter profit falls, but beats estimates

(RTTNews) – AAR Corp (AIR) reported third-quarter earnings that were down from a year ago but beat Street’s estimates.

The company’s net income totaled $22.5 million, or $0.63 per share. That compares with $28.1 million, or $0.79 per share, in the third quarter of last year.

Excluding items, AAR Corp reported adjusted earnings of $22.5 million or $0.63 per share for the period.

Analysts on average had expected the company to earn $0.58 a share, according to figures compiled by Thomson Reuters. Analyst estimates generally exclude special items.

The company’s revenue for the quarter increased 10.2% to $452.2 million from $410.3 million last year.

AAR Corp Earnings at a Glance (GAAP):

– Earnings (Q3): $22.5 million. against $28.1 million. Last year. -EPS (Q3): $0.63 vs. $0.79 last year. – Analyst estimates: $0.58 – Revenue (Q3): $452.2 million vs. $410.3 million last year.

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