b/e aerospace inc (BEAV) Key Developments
B/E Aerospace Inc. Presents at Goldman Sachs Global Industrials Conference 2013, Nov-13-2013 08:00 AM
Nov 1 13
B/E Aerospace Inc. Presents at Goldman Sachs Global Industrials Conference 2013, Nov-13-2013 08:00 AM. Venue: Boston Harbor Hotel, Boston, Massachusetts, United States.
B/E Aerospace Inc. Names Werner Lieberherr as Co-Chief Executive Officer, Effective as of January 1, 2014
Oct 25 13
B/E Aerospace Inc. announced that its Board of Directors has appointed Werner Lieberherr, who is currently President and Chief Operating Officer of the company, as co-Chief Executive Officer, effective as of January 1, 2014. Werner Lieberherr was appointed President and Chief Operating Officer of B/E Aerospace effective December 31, 2010. Mr. Lieberherr joined B/E Aerospace as Senior Vice President and General Manager for the Commercial Aircraft Segment in 2006. Prior to joining B/E Aerospace, Mr. Lieberherr spent nearly 20 years in the energy industry, leading businesses for ABB Ltd. and Alstom S.A. during which time he served in various senior management positions in Europe, Asia and as President of ABB Power Generation North America.
B/E Aerospace Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Six Months Ended September 30, 2013; Revises Earnings Guidance for 2013; Provides Earnings Guidance for 2014
Oct 23 13
B/E Aerospace Inc. reported unaudited consolidated earnings results for the third quarter and six months ended September 30, 2013. For the quarter, the company has posted revenue of $888.1 million against $766.7 million a year ago. Operating earnings was $160.1 million against $134.3 million a year ago. Earnings before income tax were $129.6 million against $20.4 million a year ago. Net earnings were $92.7 million or $0.89 per diluted share against $18.5 million or $0.18 per diluted share a year ago. Adjusted net earnings were $73.3 million or $0.71 per diluted share. Adjusted operating earnings were $65.7 million. Free cash flow was $64.1 million. Capital expenditure was $45.9 million.
For the nine months, the company has posted revenue of $2,580.6 million against $2,282.1 million a year ago. Operating earnings was $472.4 million against $401.9 million a year ago. Earnings before income tax were $380.8 million against $226.4 million a year ago. Net earnings were $275 million or $2.65 per diluted share against $158.5 million or $1.54 per diluted share a year ago. Net cash provided by operating activities was $239.4 million against $202.9 million a year ago. Capital expenditure was $113.7 million against $83.3 million a year ago. Adjusted net earnings were $222.7 million or $2.17 per diluted share. Adjusted operating earnings were $59.2 million. As of September 30, 2013, net debt, which represents total long term debt was $1.96 billion.
The company expects full year 2013 EPS guidance of approximately $3.50 per diluted share ($3.52 excluding current period acquisition expenses) represents an increase of approximately 24% as compared to 2012. CapEx this year is going to be $165 million to $170 million for the full year. The company expects that this year's revenues will be about $3.45 billion. It's up about $100 million above previous guidance, and that'll result in about $30 million or $40 million higher working capital. So those 2 factors are about $50 million to $60 million on free cash flow.
2014 revenues are expected to be approximately $4.0 billion, an increase in excess of 15% as compared with 2013 revenue. The company expects 2014 EPS of approximately $4.25 per diluted share representing an increase of approximately 21% as compared with expected 2013 EPS of $3.50 per diluted share and, for 2014, on a 100 to 150 basis point higher tax rate for next year. 2014 free cash flow conversion ratio is expected to be approximately 65% of net earnings. The company expects CapEx to be about $140 million.
B/E Aerospace Inc. Presents at Credit Suisse Global Industrials Conference, Dec-04-2013 08:15 AM
Oct 17 13
B/E Aerospace Inc. Presents at Credit Suisse Global Industrials Conference, Dec-04-2013 08:15 AM. Venue: One Madison Avenue, New York, New York, United States. Speakers: Amin J. Khoury, Co-Founder, Executive Chairman and Chief Executive Officer, Greg Powell, Vice President of Investor Relations, Tom McCaffrey, SVP & CFO.
JetBlue Launches New B/E Aerospace Seating Partnership
Sep 30 13
B/E Aerospace announced that JetBlue Airways is launching new B/E Aerospace economy Pinnacle(R) seats for JetBlue's core economy seating at a media event on September 30 in New York City. B/E Aerospace will retrofit approximately 70 JetBlue Airbus A320 aircraft and will outfit approximately 30 brand new Airbus A321s that will join the JetBlue fleet over the next few years with its Pinnacle(R) seats. In addition, there are options to retrofit up to approximately 60 additional A320 aircraft. The B/E Aerospace Pinnacle(R) main cabin seating platform is the full-featured economy class seat. The Pinnacle(R) seat provides JetBlue customers with superior ergonomic comfort, modern design features, and best-in-class technology while lowering the airline's cost of ownership due to lighter, more reliable equipment.