AAR

Q4 FY2026 EarningsFY26 Q4 results significantly exceeded consensus expectations on the top and bottom lines: revenue $3.31B vs. $3.27B expected, and normalized EPS $4.86 vs. $4.82 (mean) expected. Parts Supply revenue surged 35.3% YoY, driven by distribution growth and the ADI acquisition. While consolidated gross margin of 18.8% was in-line with consensus, the Government Solutions operating margin improved dramatically to 11.3% from 7.1% YoY, offsetting lower commercial MRO margins during HAECO integration.