b/e aerospace inc (BEAV) Snapshot

B/E Aerospace Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, revenues were $842.2 million against $747.3 million a year ago. Operating earnings was $153.6 million against $129.8 million a year ago. Earnings before income taxes were $123.0 million against $101.4 million a year ago. The growth in operating earnings and the improvement in operating margin occurred primarily as a result of operating leverage at the higher revenue level and ongoing operational efficiency initiatives. Net earnings were $89.9 million or $0.87 per basic and diluted share against $68.8 million or $0.67 per basic and diluted share a year ago. Net cash provided by operating activities was $59.2 million against $47.7 million a year ago. Capital expenditures were $37.2 million against $23.3 million a year ago. Adjusted operating earnings were $68.9 million against $56.1 million a year ago. As of March 31, 2013, net debt was $1.43 billion. The company reported revenue growth continues to be driven primarily by the robust new aircraft delivery cycle. Approximately 61% of first quarter revenues were driven by demand for products for new-buy aircraft, reflecting both robust new aircraft deliveries and continued softness in aftermarket demand. For the full year of 2013, revenues are expected to be approximately $3.35 billion, and, based on scheduled program deliveries, are expected to be stronger in the second half of the year. The company expects 2013 EPS of approximately $3.45 per diluted share. The EPS guidance of $3.45 per diluted share represents an increase of approximately 22% as compared with 2012 EPS of $2.83 per diluted share. The company's 2013 earnings per share guidance are inclusive of approximately $20 million of expected 2013 AIT costs. 2013 free cash flow conversion ratio is expected to be approximately 70% of net earnings, weighted more heavily toward the second half of 2013. The company expects the second quarter of 2013 revenues and diluted earnings per share to look like -- a lot like the first quarter of 2013, exclusive of the tax benefit and representing continued strong year-over-year compares in both revenues and earnings per share growth.

B/E Aerospace Inc., Q1 2013 Earnings Call, Apr 22, 2013

B/E Aerospace Inc. announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on Apr 22, 2013