Shares of AAR Corp (AIR), a leading provider of aviation services, plunged 18% in pre-market trading on Friday following the release of its fiscal third-quarter earnings report. The company's financial results revealed a mixed picture, with adjusted earnings surpassing analysts' expectations but revenue falling short of forecasts.

The significant drop in AAR Corp's stock price can be primarily attributed to the disappointing revenue figures. While the company managed to post better-than-anticipated adjusted earnings, investors seemed to focus on the revenue miss, which raised concerns about the company's growth trajectory and market position in the competitive aviation services sector.

Adding to the pressure on AAR Corp's stock, the broader market sentiment turned negative on Friday. Fresh data showed that U.S. core inflation rose more than expected in February, and consumer sentiment dropped for the third consecutive month. This macroeconomic backdrop likely exacerbated the selling pressure on AAR Corp, contributing to the steep 18% decline in pre-market trading.