BE Aerospace, Inc. (BEAV) Tops Q2 EPS by 4c; Bumps Outlook
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Research, development and engineering: 69.5M
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Financial Fact:
Research, development and engineering: 69.5M
Today's EPS Names:
SVBT, ZEO, OTLK, More
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BE Aerospace, Inc. (NASDAQ: BEAV) reported Q2 EPS of $0.89, $0.04 better than the analyst estimate of $0.85. Revenue for the quarter came in at $850.5 million versus the consensus estimate of $842.86 million.
Commenting on the Company's second quarter 2013 performance, Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace said, "Today we reported second quarter 2013 results which included record quarterly revenues, bookings, operating earnings, operating margin, net earnings, and EPS. Our revenue growth continues to be driven primarily by the strong new aircraft delivery cycle. Approximately 60 percent of second quarter revenues was driven by demand for products for new-buy aircraft. Demand for premium seating products and food and beverage preparation and storage equipment associated with robust wide body aircraft deliveries was particularly strong. In addition, orders at our consumables management segment and in our commercial aircraft spares business marked a solid upturn during the quarter as compared with the prior year period."
BE Aerospace, Inc. sees FY2013 EPS of $3.50, versus prior guidance of $3.45 and the consensus of $3.52.
Commenting on the Company's outlook, Mr. Khoury concluded, "As a result of the strong first half results and our expectation for continued strong operating results, today we raised our full-year 2013 guidance by $0.05 per share to $3.50 per diluted share which represents an increase of approximately 24 percent as compared to 2012 EPS. Our total backlog, both booked and awarded but unbooked, of approximately $8.4 billion, our expectation for a 10 percent compound annual growth rate (CAGR) in wide-body aircraft deliveries over the next three years, our expectation of strong revenue growth from our supplier furnished equipment (SFE) program deliveries, the expectation for continued growth in global passenger travel, and the attendant increases in capacity, all provide a basis for our expectation of a double-digit revenue CAGR over the 2013-2015 time period."
The Company expects continued strong bookings in 2013 driven by the robust wide-body aircraft delivery outlook, bookings from prior SFE awarded programs, and a modest recovery in aftermarket demand, and expects to end the year with a book-to-bill ratio in excess of 1 to 1.
2013 free cash flow conversion ratio is expected to be approximately 65 percent of net earnings, due to a higher level of capital expenditures to support our record backlog.
For earnings history and earnings-related data on BE Aerospace, Inc. (BEAV) click here.
Commenting on the Company's second quarter 2013 performance, Amin J. Khoury, Chairman and Chief Executive Officer of B/E Aerospace said, "Today we reported second quarter 2013 results which included record quarterly revenues, bookings, operating earnings, operating margin, net earnings, and EPS. Our revenue growth continues to be driven primarily by the strong new aircraft delivery cycle. Approximately 60 percent of second quarter revenues was driven by demand for products for new-buy aircraft. Demand for premium seating products and food and beverage preparation and storage equipment associated with robust wide body aircraft deliveries was particularly strong. In addition, orders at our consumables management segment and in our commercial aircraft spares business marked a solid upturn during the quarter as compared with the prior year period."
BE Aerospace, Inc. sees FY2013 EPS of $3.50, versus prior guidance of $3.45 and the consensus of $3.52.
Commenting on the Company's outlook, Mr. Khoury concluded, "As a result of the strong first half results and our expectation for continued strong operating results, today we raised our full-year 2013 guidance by $0.05 per share to $3.50 per diluted share which represents an increase of approximately 24 percent as compared to 2012 EPS. Our total backlog, both booked and awarded but unbooked, of approximately $8.4 billion, our expectation for a 10 percent compound annual growth rate (CAGR) in wide-body aircraft deliveries over the next three years, our expectation of strong revenue growth from our supplier furnished equipment (SFE) program deliveries, the expectation for continued growth in global passenger travel, and the attendant increases in capacity, all provide a basis for our expectation of a double-digit revenue CAGR over the 2013-2015 time period."
The Company expects continued strong bookings in 2013 driven by the robust wide-body aircraft delivery outlook, bookings from prior SFE awarded programs, and a modest recovery in aftermarket demand, and expects to end the year with a book-to-bill ratio in excess of 1 to 1.
2013 free cash flow conversion ratio is expected to be approximately 65 percent of net earnings, due to a higher level of capital expenditures to support our record backlog.
For earnings history and earnings-related data on BE Aerospace, Inc. (BEAV) click here.
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