Filing Flows › AAR (AIR) › Q1 FY27 › vs Q1 FY26
AAR (AIR) Q1 FY27 vs Q1 FY26 (year over year)
AAR's revenue rose $178M (+24%) from $740M in Q1 FY26 to $918M in Q1 FY27. The biggest changes: Parts Supply +$97.0M (+31%); Repair, Engineering, and Software +$71.1M (+31%); Legacy Commercial Programs +$5.4M (+9%). Gross margin 19.2% against 18.1% (+1.1 pts).
AAR, Q1 FY27: revenue $918M (+24% year over year), operating margin 6.0%, net earnings $40.1M, operating cash flow $55.8M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 19.2% | 18.1% | +1.1 pts |
| Operating margin | 6.0% | 6.4% | -0.3 pts |
| Net margin | 4.4% | 4.7% | -0.3 pts |
| Free cash flow margin | 4.8% | -7.2% | +12.0 pts |
Every line
| Line | Q1 FY27 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Parts Supply | $415M | $318M | $97.0M | +31% |
| Repair, Engineering, and Software | $298M | $226M | $71.1M | +31% |
| Government Solutions | $139M | $134M | $4.9M | +4% |
| Legacy Commercial Programs | $66.9M | $61.5M | $5.4M | +9% |
| Revenue | $918M | $740M | $178M | +24% |
| Gross profit | $176M | $134M | $42.6M | +32% |
| Cost of revenue | $742M | $606M | $136M | +22% |
| Operating profit | $55.4M | $47.0M | $8.4M | +18% |
| Operating expenses | $121M | $86.7M | $34.2M | +39% |
| Pre-tax earnings | $55.4M | $47.0M | $8.4M | +18% |
| SG&A | $107M | $71.8M | $35.2M | +49% |
| Other operating costs | $13.9M | $14.9M | −$1.0M | -7% |
| Net earnings | $40.1M | $34.4M | $5.7M | +17% |
| Income tax | $15.3M | $12.6M | $2.7M | +21% |
| Depreciation & amortization | $18.8M | $13.8M | $5.0M | +36% |
| Share-based compensation | $7.8M | $5.3M | $2.5M | +47% |
| Working capital & other | $10.9M | $98.4M | −$87.5M | -89% |
| Operating cash flow | $55.8M | −$44.9M | $101M | — |
| Free cash flow (OCF − capex) | $44.0M | −$53.6M | $97.6M | — |
| Capital expenditures | $11.8M | $8.7M | $3.1M | +36% |
Questions
How much did AAR's revenue grow year over year in Q1 FY27?
AAR's revenue rose $178M (+24%) from $740M in Q1 FY26 to $918M in Q1 FY27.
What drove AAR's revenue change in Q1 FY27?
Parts Supply +$97.0M (+31%); Repair, Engineering, and Software +$71.1M (+31%); Legacy Commercial Programs +$5.4M (+9%).