AAR 1H26 Revenue Rises as Hormuz Closure Cuts Shipments, EBITDA Holds
AAR reported 1H26 revenue up 3.7% to $206.9m and gross profit rising 2.4% to $116.8m, with adjusted EBITDA steady at $71.7m despite a 9.0% fall in FSM shipments. Global Travel Retail volumes dropped 46.5% after the Strait of Hormuz closure. Price/mix rose 14.0% as 2026 pricing was front-loaded, lifting FSM revenue 3.4%. Reported net loss widened to $81.8m mainly due to listing-related equity and cash costs plus share-based compensation.