Filing Flows › AAR (AIR) › Q3 FY26
AAR (AIR) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Mar 25, 2026
AAR (AIR) reported revenue of $845M for the third quarter fiscal 2026 (Q3 FY26), +25% from a year earlier and +6% from the quarter before. Operating margin was 11.0%, net earnings $68.0M (8.0% of revenue).
AAR, Q3 FY26: revenue $845M (+25% year over year), operating margin 11.0%, net earnings $68.0M, operating cash flow $74.7M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $845M | +6% | +25% |
| Gross profit | $155M | -1% | +17% |
| Operating profit | $93.1M | +94% | — |
| Net earnings | $68.0M | +97% | — |
| Operating cash flow | $74.7M | +449% | — |
| Free cash flow | $66.2M | +968% | — |
What changed
Revenue was $845.1M in Q3 FY26, up 25% year over year and up 6% from the previous quarter. Parts Supply was the largest line at 46% of revenue. Parts Supply added $121.8M year over year (up 45%), 73% of the total change. Expeditionary Services declined 32%.
Gross margin was 18.3%, down 1.1 points from Q3 FY25. Operating profit was $93.1M, a 11.0% margin (up 12.7 points year over year). Operating expenses fell 57% while revenue rose 25%. Net earnings were $68.0M. The effective tax rate was 27.0%.
Operating cash flow was $74.7M, 110% of net earnings. Non-cash charges added back $20.2M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items used $17.2M. Capital expenditures of $8.5M left free cash flow of $66.2M.
Questions
What was AAR's revenue in the third quarter fiscal 2026?
AAR (AIR) reported revenue of $845M for the third quarter fiscal 2026 (Q3 FY26), +25% from a year earlier and +6% from the quarter before.
Was AAR profitable in the third quarter fiscal 2026?
Operating profit was $93.1M (11.0% of revenue) and net earnings $68.0M.
Source: AAR 10-Q on SEC EDGAR.