AAR Corp Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>AAR Corp has filed its Q3 FY2024 10-Q report, detailing financial information for the period ending February 29, 2024.</b>

AI Summary

AAR CORP (AIR) filed a Quarterly Report (10-Q) with the SEC on March 21, 2024. AAR Corp filed its quarterly report (10-Q) for the period ending February 29, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on May 31st. AAR Corp is in the Aircraft & Parts industry (SIC 3720). The company's principal executive offices are located in Wood Dale, IL.

Why It Matters

For investors and stakeholders tracking AAR CORP, this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for AAR Corp, crucial for assessing its current standing and future prospects in the aerospace and defense sector. Understanding the details within this 10-Q is essential for stakeholders to make informed investment decisions, evaluate management's performance, and identify potential risks and opportunities.

Risk Assessment

Risk Level: low — AAR CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments that would suggest a high-risk profile based solely on this document.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to identify any specific trends or events impacting AAR Corp's performance.

Key Numbers

• 2024-02-29 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-03-21 — Filing Date (FILED AS OF DATE)
• 0531 — Fiscal Year End (FISCAL YEAR END)
• 3720 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• 1100 N WOOD DALE RD — Business Street (BUSINESS ADDRESS)
• WOOD DALE — Business City (BUSINESS ADDRESS)
• IL — Business State (BUSINESS ADDRESS)
• 60191 — Business Zip (BUSINESS ADDRESS)

Key Players & Entities

• AAR CORP (company) — FILER
• AIR (company) — Ticker Symbol
• 10-Q (filing) — FORM TYPE
• 2024-02-29 (date) — CONFORMED PERIOD OF REPORT
• 2024-03-21 (date) — FILED AS OF DATE
• 3720 (industry_code) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (state) — STATE OF INCORPORATION
• IL (state) — BUSINESS ADDRESS STATE

FAQ

Key Dates

• 2024-02-29: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-03-21: Filing Date — Date the 10-Q report was officially filed with the SEC.
• 2024-05-31: Fiscal Year End — Marks the end of AAR Corp's fiscal year.

Key Financial Figures

• $1.00 — nge on Which Registered Common Stock, $1.00 par value AIR New York Stock Exchan

Filing Documents

• air-20240229x10q.htm (10-Q) — 2003KB
• air-20240229xex10d1.htm (EX-10.1) — 16KB
• air-20240229xex31d1.htm (EX-31.1) — 13KB
• air-20240229xex31d2.htm (EX-31.2) — 13KB
• air-20240229xex32d1.htm (EX-32.1) — 5KB
• air-20240229xex32d2.htm (EX-32.2) — 6KB
• 0001104659-24-037408.txt (&nbsp;) — 8380KB
• air-20240229.xsd (EX-101.SCH) — 46KB
• air-20240229_cal.xml (EX-101.CAL) — 66KB
• air-20240229_def.xml (EX-101.DEF) — 220KB
• air-20240229_lab.xml (EX-101.LAB) — 463KB
• air-20240229_pre.xml (EX-101.PRE) — 314KB
• air-20240229x10q_htm.xml (XML) — 1695KB

— FINANCIAL INFORMATION

Part I — FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income 5 Condensed Consolidated Statements of Comprehensive Income 6 Condensed Consolidated Statements of Cash Flows 7 Condensed Consolidated Statements of Changes in Equity 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35

— OTHER INFORMATION

Part II — OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 5. Other Information 37 Item 6. Ex hibits 38 Exhibit Index 38 Signature s 40 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

– Financial Statements

Item 1 – Financial Statements AAR CORP. and Subsidiaries Condensed Consolidated Balance Sheets As of February 29, 2024 and May 31, 2023 (In millions, except share data) ASSETS February 29, May 31, 2024 2023 (Unaudited) Current assets: Cash and cash equivalents $ 69.2 $ 68.4 Restricted cash 14.4 13.4 Accounts receivable, less allowances of $ 13.9 and $ 13.4 , respectively 257.1 241.3 Contract assets 86.5 86.9 Inventories 671.5 574.1 Rotable assets and equipment on or available for short-term lease 74.5 50.6 Assets of discontinued operations 10.8 13.5 Prepaid expenses and other current assets 56.7 49.7 Total current assets 1,240.7 1,097.9 Property, plant, and equipment, net of accumulated depreciation of $ 278.2 and $ 268.8 , respectively 134.1 126.1 Other assets: Goodwill 179.4 175.8 Intangible assets, net of accumulated amortization of $ 9.3 and $ 6.0 , respectively 60.4 63.7 Operating lease right-of-use assets, net 89.5 63.7 Rotable assets supporting long-term programs 177.9 178.1 Other non-current assets 139.8 127.8 647.0 609.1 $ 2,021.8 $ 1,833.1 The accompanying Notes to Condensed Consolidated Financial 3 Table of Contents AAR CORP. and Subsidiaries Condensed Consolidated Balance Sheets As of February 29, 2024 and May 31, 2023 (In millions, except share data) LIABILITIES AND EQUITY February 29, May 31, 2024 2023 (Unaudited) Current liabilities: Accounts payable $ 230.3 $ 158.5 Accrued liabilities 187.4 179.6 Liabilities of discontinued operations 10.5 13.4 Total current liabilities 428.2 351.5 Long-term debt 274.7 269.7 Operating lease liabilities 73.0 48.2 Deferred tax liabilities 37.0 33.6 Other liabilities 40.9 31.0 425.6 382.5 Equity: Preferred stock, $ 1.00 par value, authorized 250,000 shares; none issued — — Common stock, $

View Full Filing

View this 10-Q filing on SEC EDGAR