---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-082021"
form_type: "8-K"
ticker: "AIR"
cik: "0000001750"
company_name: "AAR CORP"
filed_at: "2023-07-18T23:59:59+00:00"
generated_at: "2026-06-13T07:09:07.318621+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# AAR Q4 adjusted EPS $0.83 (+15% YoY), sales $553M (+16%); FY adjusted EPS $2.86 (+20%)

## Summary
- Q4 sales $553.3M (+16% YoY); GAAP diluted EPS $0.66 (flat YoY); adjusted EPS $0.83 (+15% from $0.72).
- FY2023 sales $2.0B (+9%); GAAP EPS $2.52 vs $2.16; record adjusted EPS $2.86 (+20% from $2.38).
- Commercial customer sales rose 31% in Q4; government sales fell 7%; commercial mix 69% of sales.
- Announced expansion of United Airlines MRO relationship to minimum 10 lines; new 3-bay hangar in Miami with county cost reimbursement.
- Operating cash flow from cont ops $45.3M in Q4; net debt $203.6M, net leverage 1.07x; no share repurchases in Q4.

## SEC filing metadata
- accession: 0001104659-23-082021
- form_type: 8-K
- ticker: AIR
- cik: 0000001750
- company_name: AAR CORP
- filed_at: 2023-07-18T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750/000110465923082021/0001104659-23-082021-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750/000110465923082021/tm2320884d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-082021
- JSON: https://secwatch.observer/filing/0001104659-23-082021.json
- Plain text: https://secwatch.observer/filing/0001104659-23-082021.txt

## Key facts
- Earnings Releases
  AAR CORP reported fiscal year 2023 results: revenue $2.0 billion, net income $89.8 million, EPS $2.52 per diluted share.
  - Period: fiscal year 2023
  - Revenue: $2.0 billion
  - Net income: $89.8 million
  - EPS: $2.52 per diluted share
  - Result: reported results
  source text: $0.83 in Q4 FY2023, up 15% from $0.72 in Q4 FY2022 · Fourth quarter cash flow provided by operating activities from continuing operations of $45 million · Full year sales of $2.0 billion, up 9% over the prior year · Full year GAAP diluted earnings per share from continuing operations of $2.52, compared to $2.16 in FY2022; record adjusted earnings of $2.86 in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750/000110465923082021/0001104659-23-082021-index.htm
- Earnings Releases
  AAR CORP reported fourth quarter ended May 31, 2023 results: revenue $553.3 million, net income $23.2 million, EPS $0.66 per diluted share.
  - Period: fourth quarter ended May 31, 2023
  - Revenue: $553.3 million
  - Net income: $23.2 million
  - EPS: $0.66 per diluted share
  - Result: reported results
  source text: today reported fourth quarter fiscal year 2023 consolidated sales of $553.3 million and income from continuing operations of $23.2 million, or $0.66 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750/000110465923082021/0001104659-23-082021-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.