AAR CORP — fact timeline

AAR CORP reported the fiscal year 2026 third quarter ended February 28, 2026 results: revenue $845.1 million, net income $68.0 million, EPS $1.71 per diluted share. Guidance raised.

“reported today financial results for the fiscal year 2026 third quarter ended February 28, 2026. THIRD QUARTER FISCAL YEAR 2026 HIGHLIGHTS (As compared to Q3 FY2025) · Sales of $845 million; increased 25% · GAAP diluted EPS of $1.71 · Adjusted diluted EPS of $1.25; increased 26% · GAAP Net income of $68 million · Adjusted EBITDA of $102 million; increased 26% ·”

AAR CORP incurred senior notes of $150,000,000 aggregate principal amount with Wilmington Trust, National Association at 6.750% per annum maturing March 15, 2029.

“6.750% Senior Notes due 2029 On August 14, 2025, AAR CORP. (the “Company”), a Delaware corporation, issued $150,000,000 aggregate principal amount of its 6.750% Senior Notes due 2029 (the “Additional Notes”).”

Hema Widhani was elected as Class I independent director at AAR CORP.

“On March 18, 2025, the Board of Directors (the “Board”) of AAR CORP. (the “Company”) increased the size of the Board to 12 members and elected Hema Widhani, 47, as a Class I independent director to fill the vacancy created by the increase, effective immediately.”

AAR CORP: Amended and restated By-Laws effective January 22, 2025 to update provisions relating to stockholder meetings, director nominations, universal proxy rules, and other technical and administrative clarifications (effective 2025-01-22).

“On January 22, 2025, the Board of Directors of AAR CORP. (the “Company”) approved the amendment and restatement of the By-Laws of the Company (as amended and restated through January 22, 2025) (the “Amended By-Laws”), effective as of such date, to reflect recent developments in Delaware law, the “universal proxy” rules adopted by the U.S. Securities and Exchange Commission (the “SEC”), and general market practices, and to incorporate other technical and administrative clarifications.”

Tracey Patterson resigned as Senior Vice President and Chief Human Resources Officer at AAR CORP.

“On January 3, 2025, Tracey Patterson notified AAR CORP. (the “Company”) that she has accepted another professional opportunity outside of the Company and the aviation industry. She will depart from her current position as Senior Vice President and Chief Human Resources Officer and as an employee of the Company effective January 10, 2025 to allow for the appropriate transition.”

AAR CORP announced a impairment with charges of approximately $60 million affecting Landing Gear Overhaul (LGO) business.

“the Company determined that it will recognize a non-cash, pre-tax loss of approximately $60 million in the fiscal third quarter ending February 28, 2025 reflecting the adjustment of LGO’s carrying value to its fair value less costs to sell.”

Anthony K. Anderson departed as Director at AAR CORP.

“On June 25, 2024, Anthony K. Anderson provided AAR CORP. (the “Company”) notice of his decision to not stand for re-election to the Board of Directors of the Company at the Company’s next annual meeting of stockholders to be held on September 17, 2024.”

AAR CORP reported third quarter ended February 29, 2024 results: revenue $567.3 million, net income $14.0 million, EPS $0.39 per diluted share.

“AAR reports third quarter fiscal year 2024 results · Record third quarter sales of $567 million, up 9% over the prior year · Third quarter GAAP diluted earnings per share from continuing operations of $0.39, compared to $0.62 in Q3 FY2023”

Jeffrey N. Edwards was elected as Director at AAR CORP.

“On March 19, 2024, the Board of Directors (the “Board”) of AAR CORP. (the “Company”) increased the size of the Board to 12 members and elected Jeffrey N. Edwards as a Class II independent director to fill the vacancy created by the increase, effective immediately.”

AAR CORP completed an acquisition involving Triumph Group, Inc. and other sellers for $725.0 million (closed 2024-03-01).

“On March 1, 2024, the Company completed the Triumph Product Support Business Acquisition pursuant to the SAPA for a purchase price of $725.0 million, subject to customary adjustments as set forth in the SAPA.”

AAR CORP incurred revolving credit of approximately $186.2 million.

“the Company borrowed approximately $186.2 million under the Amended Revolving Credit Facility to fund a portion of the purchase price for the Triumph Group Product Support Business Acquisition”

AAR CORP amended revolving credit of $825.0 million with Wells Fargo Bank, N.A. at 250 basis points (in the case of SOFR loans) and 150 basis points (in the case o.

“the Revolver Amendment (i) increased the aggregate commitments under the Amended Revolving Credit Facility to $825.0 million, (ii) increased the maximum leverage ratio permitted under the financial covenants applicable to the Amended Revolving Credit Facility and (iii) included an additional pricing level that will increase the interest rate margins on the Amended Revolving Credit Facility to 250 basis points (in the case of SOFR loans) and 150 basis points (in the case of Base Rate loans) if the Company’s adjusted total debt to EBITDA ratio exceeds 3.75:1.00”

AAR CORP incurred senior notes of $550,000,000 aggregate principal amount with Wilmington Trust, National Association at 6.750% per annum maturing March 15, 2029.

“issued $550,000,000 aggregate principal amount of its 6.750% Senior Notes due 2029 (the "Notes") to fund a portion of the purchase price for the Triumph Group Product Support Business Acquisition”

AAR CORP amended Amended Revolving Credit Facility with Wells Fargo Bank, N.A. valued at Amendment increased aggregate commitments to $825.0 million, borrowed $186.2 million (effective 2024-03-01).

“On March 1, 2024, the Company entered into an amendment (the “Revolver Amendment”) to the Credit Agreement, dated as of December 14, 2022, among the Company, as borrower, the lenders from time to time party thereto and Wells Fargo Bank, N.A., as administrative agent, which governs the Company’s existing revolving credit facility (the revolving credit facility as amended by the Revolver Amendment, the “Amended Revolving Credit Facility”).”

AAR CORP entered into Base Indenture, First Supplemental Indenture, and 6.750% Senior Notes due 2029 with Wilmington Trust, National Association valued at $550,000,000 aggregate principal amount (effective 2024-03-01).

“On March 1, 2024, AAR Escrow Issuer, LLC (the “Escrow Issuer”), a Delaware limited liability company and wholly owned subsidiary of the Company, issued $550,000,000 aggregate principal amount of its 6.750% Senior Notes due 2029 (the “Notes”) to fund a portion of the purchase price for the Triumph Group Product Support Business Acquisition (the “Note Offering”).”

AAR CORP entered into Securities and Asset Purchase Agreement with Triumph Group, Inc.; Triumph Aftermarket Services Group, LLC; Triumph Group Acquisition Corp.; Triumph Group Acquisition Holdings, Inc.; Trident Group Operations, Inc. valued at aggregate purchase price of $725 million (effective 2023-12-21).

“On December 21, 2023, AAR CORP., a Delaware corporation (the " Company " or " AAR "), entered into a Securities and Asset Purchase Agreement (the " Purchase Agreement "), by and among the Company, Triumph Group, Inc., a Delaware corporation (" Triumph "); Triumph Aftermarket Services Group, LLC, a Delaware limited liability company; Triumph Group Acquisition Corp., a Delaware corporation and wholly owned subsidiary of Triumph; Triumph Group Acquisition Holdings, Inc., a Delaware corporation; and Trident Group Operations, Inc., a Delaware corporation (collectively with Triumph, Triumph Aftermarket Services Group, LLC, Triumph Group Acquisition Corp. and Triumph Group Acquisition Holdings, Inc., the " Sellers ").”

Billy J. Nolen was elected as director at AAR CORP.

“elected Billy J. Nolen as a director to fill the vacancy created by the increase, effective immediately.”

AAR CORP reported first quarter ended August 31, 2023 results: revenue $549.7 million, net income loss from continuing operations of $0.6 million, EPS $0.02 per diluted share.

“AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today reported first quarter fiscal year 2024 consolidated sales of $549.7 million and loss from continuing operations of $0.6 million, or $0.02 per diluted share.”

AAR CORP shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm at the 2024-05-31 meeting.

“The stockholders ratified the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending May 31, 2024, as reflected in the following voting results:”

AAR CORP shareholders approved Approval of an Amendment to the AAR CORP. 2013 Stock Plan (as amended and restated effective July 13, 2020) at the 2020-07-13 meeting.

“The stockholders approved an amendment to the AAR CORP. 2013 Stock Plan (as amended and restated effective July 13, 2020), as reflected in the following voting results:”

AAR CORP shareholders approved Advisory Proposal to Approve the Frequency for Future Advisory Proposals to Approve our Executive Compensation.

“The stockholders approved the advisory proposal on the frequency for future advisory proposals to approve our executive compensation with a frequency of one year, as reflected in the following voting results:”

AAR CORP shareholders approved Advisory Proposal to Approve our Fiscal 2023 Executive Compensation.

“The stockholders approved the advisory proposal for our Fiscal 2023 executive compensation, as reflected in the following voting results:”

AAR CORP shareholders approved Election of Class III Directors.

“The stockholders elected each of the Company’s four Class III director nominees for a three-year term expiring at the 2026 annual meeting, as reflected in the following voting results:”

AAR CORP reported fiscal year 2023 results: revenue $2.0 billion, net income $89.8 million, EPS $2.52 per diluted share.

“$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”

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.

“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.”

AAR CORP reported third quarter ended February 28, 2023 results: revenue $521.1 million, net income $21.8 million, EPS $0.62 per diluted share.

“AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today reported third quarter fiscal year 2023 consolidated sales of $521.1 million and income from continuing operations of $21.8 million, or $0.62 per diluted share.”

John W. Dietrich was elected as director at AAR CORP.

“elected John W. Dietrich as a director to fill the vacancy created by the increase, effective immediately.”

AAR CORP reported the second quarter ended November 30, 2022 results: revenue $469.8 million, net income $22.5 million, EPS $0.64 per diluted share.

“AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today reported second quarter fiscal year 2023 consolidated sales of $469.8 million and income from continuing operations of $22.5 million, or $0.64 per diluted share.”

AAR CORP incurred credit facility of $620 million with Wells Fargo Bank, N.A. at SOFR plus 112.5 to 200 basis points maturing December 14, 2027.

“On December 14, 2022, AAR CORP. (the “Company”) entered into a credit agreement with various financial institutions, as lenders and Wells Fargo Bank, N.A., as administrative agent for the lenders (the “Credit Agreement”). The Credit Agreement creates a $620 million unsecured revolving credit facility that the Company can draw upon for working capital and general corporate purposes.”

AAR CORP terminated 2011 Credit Agreement with Bank of America, N.A., as administrative agent (effective 2022-12-14).

“On December 14, 2022, the Company terminated its credit agreement dated April 12, 2011, as amended, between the Company and various financial institutions, as lenders and Bank of America, N.A., as administrative agent (the “2011 Credit Agreement”).”

AAR CORP entered into Credit Agreement with Wells Fargo Bank, N.A., as administrative agent for the lenders valued at $620 million (effective 2022-12-14).

“On December 14, 2022, AAR CORP. (the “Company”) entered into a credit agreement with various financial institutions, as lenders and Wells Fargo Bank, N.A., as administrative agent for the lenders (the “Credit Agreement”).”

H. John Gilbertson, Jr. resigned as Director at AAR CORP.

“On October 24, 2022, H. John Gilbertson, Jr. provided AAR Corp. (the “Company”) notice of his decision to resign from the Board of Directors of the Company (the “Board”), effective October 27, 2022.”

Mr. Goodwin departed as Director at AAR CORP.

“Mr. Goodwin will be retiring from the Board upon the expiration of his term at the Company’s 2022 annual meeting.”

Marc J. Walfish was appointed as Lead Director at AAR CORP.

“The Board also appointed Mr. Marc J. Walfish as Lead Director”

John M. Holmes was appointed as Chairman of the Board at AAR CORP.

“the Board appointed John M. Holmes, the Company’s President and Chief Executive Officer, to succeed Mr. Storch as Chairman of the Board effective upon Mr. Storch’s retirement”

David P. Storch departed as Chairman of the Board at AAR CORP.

“David P. Storch, Chairman of the Board of Directors (the “Board”) of AAR CORP. (the “Company”) advised the Board that he will retire as Chairman and as a member of the Board, effective as of the close of business on January 10, 2023.”