AAR is trading 8.5% up at $124.90 after reporting fiscal 2027 first-quarter sales of $918 million, up 24%, and adjusted diluted EPS of $1.49, up 38% year over year. - Adjusted EBITDA margin expanded to 12.7%. - AAR agreed to acquire a 65% controlling interest in MRO Holdings at a $4.0 billion implied enterprise value. It expects the deal to lift adjusted EBITDA margins to approximately 16% before synergies and updated its longer-term margin target to 19%–20%.