This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

B/E Aerospace Third Quarter 2013 Results Exceed Expectations; Provides 2014 Guidance

B/E Aerospace, Inc. (NASDAQ: BEAV), the world’s leading manufacturer of aircraft cabin interior products and the world’s leading provider of aerospace fasteners, consumables and logistics services, today announced its third quarter 2013 financial results.

THIRD QUARTER 2013 HIGHLIGHTS VERSUS THIRD QUARTER PRIOR YEAR

  • Revenues increased 16 percent.
  • Operating earnings increased 19 percent.
  • Earnings per diluted share increased 25 percent.
  • Full-year 2013 guidance raised to $3.52 per diluted share (excludes current period acquisition expenses).
  • The Company established its full-year 2014 guidance of approximately $4.25 per diluted share, representing a year-over-year increase of approximately 21 percent.

THIRD QUARTER CONSOLIDATED RESULTS

Third quarter 2013 revenues of $888.1 million increased $121.4 million, or 15.8 percent, as compared with the prior year period.

Third quarter 2013 operating earnings were $160.1 million, an increase of 19.2 percent, and operating margin of 18.0 percent increased 50 basis points as compared to the prior year period. Acquisition, integration and transaction (AIT) costs in the third quarter were approximately $6.9 million, including expenses associated with the Blue Dot Energy Services LLC (Blue Dot) acquisition. Operating earnings, adjusted to exclude AIT costs, were $167.0 million, an increase of 20.2 percent, and adjusted operating margin of 18.8 percent increased 70 basis points compared to the prior year similarly adjusted to exclude AIT costs.

Third quarter 2013 net earnings and earnings per diluted share were $92.7 million and $0.89 per share, increases of 26.5 percent and 25.4 percent, respectively, as compared with the prior year period, as adjusted to exclude third quarter 2012 debt prepayment costs and adjusting the third quarter 2012 tax rate to the higher third quarter 2013 tax rate for comparability purposes.

Commenting on the Company’s third quarter 2013 performance, Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace said, “Today’s third quarter 2013 results include record quarterly revenues, bookings, and operating earnings. Our revenue growth this quarter was driven by a double-digit increase in aftermarket demand, as well as a double-digit increase in demand related to the strong commercial aircraft delivery cycle. In addition, we are pleased to report that the consumables management segment aftermarket business experienced an accelerating growth rate in both revenues and orders during the quarter.”

1 of 10

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,875.96 -39.11 -0.23%
S&P 500 1,961.28 -3.40 -0.17%
NASDAQ 4,396.6470 +0.4430 0.01%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs