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AAR (AIR) Stock Tumbles on Q4 Earnings Miss, Outlook

NEW YORK (TheStreet) -- Shares of AAR (AIR) are diving 8.71% to $22.86 on heavy trading volume Wednesday afternoon after the Wood Dale, IL-based company reported weaker-than-expected earnings for the 2016 fiscal fourth quarter.

After yesterday's closing bell, the aviation services company reported earnings of 32 cents per diluted share, which fell short of analysts' expectations of 47 cents per share.

Revenue for the period was $458.2 million, higher than Wall Street's projection of $452.4 million.

For fiscal 2017, AAR sees earnings per...