B/E Aerospace (BEAV) Tops Q2 EPS by 2c; Raises Outlook

B/E Aerospace (NASDAQ: BEAV) reported Q2 EPS of $0.84, $0.02 better than the analyst estimate of $0.82. Revenue for the quarter came in at $753 million versus the consensus estimate of $713.1 million.

“I am pleased to report our strong second quarter results, as we continue to execute on our plan to deliver sustained revenue growth, and earnings per share growth that exceeds revenue growth. Second quarter revenues increased 7 percent driven by very strong performance by our commercial aircraft segment. Second quarter earnings per share increased 12 percent as compared with the prior year period reflecting robust organic revenue growth and the benefits of our capital allocation plan. As a result of our strong first half results, we are today increasing our 2016 financial guidance and raising our 2017 outlook,” stated Amin J. Khoury, Executive Chairman of B/E Aerospace.

“Based on our strong free cash flow generation and consistent with our stated capital allocation plan, we used $30 million of our cash to repurchase our shares during the second quarter, and we have used $75 million to repurchase our shares, year-to-date. For the remainder of the year, we expect to use approximately an additional $75 million for share repurchases, for a total of approximately $150 million for the full year. When combined with dividends, we expect to return more than $235 million to our shareholders this year,” Mr. Khoury continued.

GUIDANCE:

“Given our strong results for the first half of 2016 and excellent performance by our commercial aircraft segment, we are increasing our financial guidance for the full year 2016,” Mr. Khoury commented.

B/E Aerospace sees FY2016 EPS of $3.25, versus the consensus of $3.26. Revenues are expected to increase approximately 5 percent as compared to 2015

For earnings history and earnings-related data on B/E Aerospace (BEAV) click here.

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