Why AAR (AIR) Stock Is Plunging Today

NEW YORK (TheStreet) -- Shares of AAR Corp  (AIR) are plunging, down 9.61% to $25.31 on heavy trading volume, after the aviation services company reported first quarter earnings late yesterday of 36 cents per share, down from the 45 cents per share one year ago, and lower than the analysts' estimate of 38 cents per share.

Revenue fell 8.8% from a year ago to $469.2 million, falling short of the consensus estimate of $489.53 million for the quarter.

AAR lowered its fiscal year 2014 earnings guidance to between $1.65-$1.75 per share, from its prior earnings range of $1.80-$1.90 per share, and falling below the consensus estimate of $1.87 per share.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

The company now expects revenue of $2 billion to $2.05 billion for the year, down from its previous range of $2.1 billion to $2.15 billion.

AIR Chart AIR data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Amazon Could Rip the Face Off People Holding Retail Stocks, Again: Market Recon

Uber Fighting to Stay Ahead in Flying Car Initiative

5 Stocks That Could Be Squeezed Much Higher

SoftBank to Lead $1.2 Billion Funding in OneWeb for Satellite-Based Internet Access