AAR Results Miss Estimate; Cuts FY Guidance - Quick Facts

(RTTNews) - Aviation and aerospace company AAR Corp (AIR) Tuesday reported first-quarter net earnings of $14.4 million or $0.36 per share compared with $17.9 million or $0.45 per share last year.

Revenues for the quarter were $469 million compared with $514.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.38 per share on revenues of $489.5 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the full year, the company slashed its guidance and now expects earnings of $1.65 to $1.75 per share on revenues of $2 billion to $2.05 billion; from prior range of $1.80 to $1.90 per share earnings and $2.1 billion to $2.15 billion revenues.

Analysts expect earnings of $1.87 per share on revenues of $2.11 billion.