Sean Gillen, Senior Vice President and Chief Financial Officer of AAR Corp (NYSE:AIR), recently executed a series of transactions involving the company's common stock. On January 10, Gillen sold a total of 17,385 shares at an average price of $66.33 per share, amounting to approximately $1.15 million. According to InvestingPro data, the stock is currently trading near its Fair Value, with a current price of $67.72 and a market capitalization of $2.38 billion.
The transactions also included the exercise of stock options, where Gillen acquired shares at prices ranging from $18.94 to $37.74. These acquisitions totaled around $505,279. Following these transactions, Gillen holds 72,326.203 shares directly in AAR Corp. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.68, indicating robust financial health. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report.
In other recent news, AAR Corp, an aviation services provider, has reported strong fiscal second quarter results, surpassing analyst expectations. The company posted adjusted earnings per share of $0.90, which exceeded the analyst consensus of $0.88. Revenue for the quarter rose by 26% year-over-year, reaching $686.1 million, considerably higher than estimates of $654.18 million.
In addition to its financial performance, AAR Corp announced the departure of Senior Vice President and Chief Human Resources Officer Tracey Patterson. Patterson, who joined the company in 2023, will leave her position effective January 10, 2025, to pursue a new professional opportunity outside of the aviation industry. AAR Corp has not yet announced a successor for Ms. Patterson.
These recent developments also include notable organic growth of 12% in the quarter, a significant increase from 6% in Q1. The Parts Supply segment saw sales growth of 20%, while Repair & Engineering revenue surged by 57% compared to the previous year. The company's adjusted EBITDA margin expanded to 11.4% from 10.1% in the prior year quarter. CEO John M. Holmes anticipates "continued strong sales growth in the second half of fiscal year 2025" and further margin improvements.
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