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AAR (AIR) investor relations material
AAR Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary6 Jan, 2026
Executive summary
Achieved 16% year-over-year sales growth to $795.3 million in Q2 FY2026, with 12% organic growth, driven by strong demand in commercial and government markets and notable contributions from recent acquisitions.
Adjusted diluted EPS rose 31% to $1.18; GAAP diluted EPS was $0.90, with net income reaching $34.6 million, reversing a prior-year net loss.
Completed acquisitions of ADI for $138 million and HAECO Americas for $77 million, and announced agreement to acquire Aircraft Reconfig Technologies for $35 million, expanding distribution, maintenance, and engineering capabilities.
Renewed key exclusive distribution agreements and expanded digital capabilities, including Trax software wins with Thai Airways and Delta Air Lines.
Secured $850 million in multi-year airframe heavy maintenance contracts and completed a $273.9 million equity offering.
Financial highlights
Total sales grew 16% year-over-year to $795.3 million, with 12% organic growth.
Adjusted EBITDA increased 23% to $97 million, with margins rising to 12.1% from 11.4%.
Adjusted operating income rose 28% to $81.2 million, with margins up 100 basis points to 10.2%.
Net income for the quarter was $34.6 million, compared to a net loss of $30.6 million in the prior year.
Diluted EPS for the quarter was $0.90, compared to a loss of $0.87 per share in the prior year.
Outlook and guidance
Q3 FY2026 total sales growth expected at 20–22%, with organic growth of 8–11%.
Full-year FY2026 sales growth expected to approach 17%, with organic growth near 11%.
Adjusted operating margin guidance raised from approaching 10% to approaching 11%.
New capacity from Oklahoma City and Miami expansions to have a more pronounced impact in FY27.
Approximately 65% of the $755 million backlog is expected to be recognized as revenue over the next 12 months.
Acquisition synergy contribution to margin?
Compare organic growth drivers: Parts vs Gov't sales?
Future investment capacity from current leverage?
Heavy maintenance margin expansion beyond 10%
Thai Airways win impact on Trax pipeline
M&A pipeline and integration balance
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Q3 202626 Mar, 2026
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Frequently asked questions
AAR Corp. provides products and services to commercial aviation, government, and defense markets worldwide. The company’s Aviation Services segment offers inventory management programs; supply chain solutions; aircraft maintenance, repair, and overhaul services; engineering services; nose-to-tail services; expendable parts supply; and other component support services. Its Expeditionary Services segment provides airlift operations, mobility systems maintenance services, contingency response services, integrated logistics support, specialty aircraft modification and maintenance services, fuel system installation and maintenance services, aircraft rescue and firefighting training programs, humanitarian relief operations support, expeditionary airfield construction support, expeditionary fuels laboratory testing programs, and training systems and instruction. The company also purchases used aircraft parts from airlines in inventory liquidation sales.
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