AAR CORP

Listed Company

AIRCIK 0000001750NYSELarge AcceleratedAircraft & PartsDelawareFRFY ends May 31

Period

FY 2025

Revenue

—

Net Income

$12.50M

Total Assets

$2.84B

Equity

$1.21B

Shares Out

39.76M

Op. Cash Flow

$36.10M

Business

AAR CORP is a leading independent provider of solutions to the global aviation aftermarket, serving commercial and government aerospace customers. The company offers parts sales and leasing (including used serviceable material), airframe and component maintenance, fleet management, supply chain logistics, software (Trax) and expeditionary manufacturing and services. It organizes operations into four business segments: Parts Supply, Repair & Engineering, Integrated Solutions and Expeditionary Services. AAR operates globally across commercial and government channels, selling through direct sales teams, foreign representatives, OEM distribution relationships and digital platforms.

Summary from filing dated 2025-07-22

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Sales	2,781	2,319	1,991	1,820	1,652
Costs	2,253	1,877	1,620	1,507	—
Gross profit	528	442	370	313	—
Provision for credit losses	200,000	700,000	3	1	9
Selling, general and administrative	348	312	230	202	182
Earnings (Loss) from joint ventures	5	−200,000	−3	−3	200,000
Operating income	185	129	134	107	85
Pension settlement charge	—	−27	—	−1	—
Losses related to sale and exit of businesses	−72	−3	−700,000	—	—
Other expense, net	−300,000	−400,000	−800,000	2	4
Interest expense	−75	−43	−12	—	—
Interest income	2	2	1	100,000	200,000
Income from continuing operations before provision for income taxes	39	58	121	—	—
Income tax expense	26	12	31	27	18
Income from continuing operations	13	46	90	79	46
Income from discontinued operations, net of tax	—	—	400,000	200,000	−11
Net income	13	46	90	79	36
Earnings from continuing operations	0.35	1.3	2.55	2.19	1.31
Income from discontinued operations	—	—	0.01	0.01	−0.3
Earnings per share - basic	0.35	1.3	2.56	2.2	1.01
Earnings from continuing operations	0.35	1.29	2.52	2.16	1.3
Income from discontinued operations	—	—	0.01	0.01	−0.3
Earnings per share - diluted	0.35	1.29	2.53	2.17	1

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2023 2023-03-31	FY 2022 2022-05-31
Cash and cash equivalents	97	86	68	—	54
Restricted cash	13	10	13	—	5
Accounts receivable, net	355	287	241	—	214
Contract assets	140	123	87	—	74
Inventories	809	733	574	—	551
Rotable assets and equipment on or available for short-term lease	38	82	51	—	54
Assets of discontinued operations	6	10	14	—	16
Prepaid expenses and other current assets	53	59	—	—	—
Total current assets	1,511	1,390	1,098	—	1,007
Land	9	10	3	—	3
Buildings and improvements	118	118	96	—	95
Equipment and furniture and fixtures	310	324	296	—	270
Property, plant and equipment, gross	437	452	395	—	368
Accumulated depreciation	−279	−280	−269	—	−258
Property, plant, and equipment, net	159	172	126	—	110
Goodwill	531	555	176	64	116
Intangible assets, net	220	235	64	—	3
Operating lease right-of-use assets, net	93	97	64	—	73
Rotable assets supporting long-term programs	172	166	178	—	167
Other non-current assets	159	156	128	—	98
Total other assets	1,176	1,209	609	—	457
Total assets	2,845	2,770	1,833	—	1,574
Accounts payable	303	238	159	—	156
Accrued liabilities	246	219	180	—	175
Liabilities of discontinued operations	6	10	13	—	17
Total current liabilities	555	467	352	—	348
Long-term debt	968	985	270	—	99
Operating lease liabilities	80	80	48	—	57
Deferred tax liabilities	18	24	34	—	20
Other liabilities	12	24	31	—	15
Total noncurrent liabilities	1,078	1,113	383	—	191
Preferred stock, $1.00 par value, authorized 250,000 shares; none issued	—	—	—	—	—
Common stock, $1.00 par value, authorized 100,000,000 shares; issued 45,300,786 shares at cost	45	45	45	—	45
Capital surplus	505	494	485	—	478
Retained earnings	969	957	911	—	820
Treasury stock, 9,470,781 and 9,606,820 shares at cost, respectively	−303	−298	−318	—	−289
Accumulated other comprehensive loss	−6	−9	−24	—	−20
Total equity	1,212	1,190	1,099	—	1,035
Total liabilities and equity	2,845	2,770	1,833	—	1,574

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-05-31	FY 2024 2024-05-31	FY 2023 2023-05-31	FY 2022 2022-05-31	FY 2021 2021-05-31
Depreciation and amortization	55	40	27	33	36
Amortization of financing costs	3	1	700,000	—	—
Stock-based compensation expense	20	15	14	8	9
Deferred tax provision (benefit)	−6	−21	−2	9	8
Loss on sale of business	69	—	—	—	—
Impairment charges	—	—	1	3	9
Accounts receivable	−83	−5	−18	−49	−5
Contract assets	−27	−17	−14	−2	−26
Inventories	−109	−90	−24	−10	75
Prepaid expenses and other current assets	−11	−21	−9	−10	50
Rotable assets supporting long-term programs	−24	3	−19	3	9
Accounts payable	71	59	—	29	−63
Accrued and other liabilities	41	17	−6	−11	16
Other	29	−12	−22	−1	−6
Net cash provided by operating activities-continuing operations	36	44	24	90	109
Net cash used in operating activities-discontinued operations	—	−200,000	−500,000	−15	−3
Net cash provided by operating activities	36	44	23	75	105
Property, plant and equipment expenditures	−35	−30	−30	−17	−11
Acquisitions, net of cash acquired	−2	−723	−103	—	—
Proceeds from sale of business	48	—	—	—	—
Joint venture and other investment activity	−1	−6	−5	−7	800,000
Net cash provided by (used in) investing activities	11	−759	−138	−17	−500,000
Short-term borrowings (repayments), net	−20	175	172	−10	−470
Purchase of treasury stock	−10	−5	−50	−42	—
Stock compensation activity	−4	20	18	17	600,000
Financing costs	−100,000	−10	−2	—	—
Proceeds from long-term borrowings	—	550	—	—	—
Net cash provided by (used in) financing activities	−34	729	138	−60	−470
Effect of exchange rate changes on cash	0	0	−100,000	−200,000	300,000
Increase in cash and cash equivalents	13	14	23	−1	−365

Filings

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