AAR Corp.

Reported Sep 28 · After close

Publication status

Shortcut win

Sep 28, 2026, 9:00 AM PDT

Shortcut

1.37

Off by $0.12 per share

+5.1% vs Street

Street

1.30

Off by $0.19 per share

Real

1.49

Adjusted diluted · USD per share

Reported result

AAR reported adjusted diluted EPS of $1.49 for the quarter ended August 31, 2026. Shortcut was off by $0.12 per share, compared with $0.19 for the Street. Results were released September 28, ahead of the originally announced September 29 schedule.

Company earnings release

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AIR · Workbook preview

AIR earnings model after workbook review

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What drives the forecast

July 21 issuer guidance calls for 21–23% ex-Legacy Commercial Programs sales growth, implying approximately $827 million excluding legacy at midpoint; the model forecasts $828 million ex-legacy and $56 million of legacy sales.
August 25 HEICO posted 14% quarterly organic revenue growth, supporting aviation aftermarket demand; AAR's previous quarter saw 13% adjusted organic growth and 19% new-parts distribution organic growth.
September 21 preview flagged narrower used serviceable material spreads, HAECO integration margin drag and slowing distribution growth; model uses 18.64% gross margin and $91 million SG&A rather than extrapolating peak Q4 margins.
AAR beat supplied normalized EPS consensus in each of the last six quarters, but guidance omitted EPS; forecast normalized EPS is only about 5% above the September 24 consensus, with 67% beat probability.
Forecast $44.215 million GAAP profit plus $14 million acquisition/integration/amortization adjustment less $3.36 million associated tax produces $54.855 million adjusted income on 40.15 million diluted shares.

The Street baseline: consensus snapshot, September 24, 2026. Results are scored only after the earnings basis is matched. Read the methodology.