Latest News by Industry
AAR Corp Reports Net Loss of $0.6 Million for the Quarter Ended August 31, 2023
Quarterly Revenue Reaches $549.7 Million
AAR CORP [AIR], a leading provider of aviation services to customers worldwide, has reported a net loss of $0.6 million for the quarter ended August 31, 2023. Despite the challenging market conditions, the company achieved a quarterly revenue of $549.7 million, showcasing its resilience and ability to generate consistent sales.
AAR Corp's financial performance during the quarter was marked by some notable highlights. The company reported a gross profit of $101.3 million, an increase of 23.5% compared to the same period last year. This improvement can be attributed to effective cost management strategies. However, there was a provision for credit losses of $0.4 million, indicating potential risks in account receivables.