: AAR Corp. stock rallies after air-travel rebound lifts sales

Shares of AAR Corp. AIR rose after hours on Tuesday after the aviation-service company reported fiscal fourth-quarter results that beat analysts’ expectations, helped by a broader rebound in air travel. The company — which sells or leases out aircrafts, engines and jet parts to businesses and governments — reported net income of $23.2 million, or 66 cents a share, compared with $23.9 million, or 66 cents a share, in the same quarter last year. Sales came in at $553.3 million, compared with $476.1 million in the prior-year quarter. Adjusted for matters related to compliance costs, losses on equity investments, and the March acquisition of the software company Trax, AAR earned 83 cents a share. Analysts polled by FactSet expected adjusted earnings per share of 78 cents, on revenue of $525.9 million. “Across our domestic and international markets, the demand for commercial air travel is increasing and our airline customers expect this trend to continue,” Chief Executive John Holmes said in a statement. “In turn, we have seen sustained high demand for our services which drove another strong quarter of growth.” Shares rose 4.2% after hours on Tuesday.

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