b/e aerospace inc (BEAV) Key Developments
Wayne R. Exton to Retire as the Vice President and General Manager, Business Jet Segment of B/E Aerospace, Inc
Aug 7 15
On August 7, 2015, Wayne R. Exton announced his retirement from his position as the Vice President and General Manager, Business Jet Segment for B/E Aerospace Inc. Mr. Exton will serve as a consultant to the Company through August 9, 2017 pursuant to the terms of a written Consulting Agreement entered into with the Company.
B/E Aerospace Inc. Presents at Jefferies 11th Annual Industrials Conference, Aug-11-2015 01:20 PM
Aug 4 15
B/E Aerospace Inc. Presents at Jefferies 11th Annual Industrials Conference, Aug-11-2015 01:20 PM. Venue: Grand Hyatt, 109 E. 42nd Street, New York, New York, United States.
B/E Aerospace Inc. Declares Quarterly Dividend, Payable on September 11, 2015
Jul 31 15
B/E Aerospace Inc. announced that its Board of Directors declared a quarterly dividend of $0.19 per outstanding share of the company’s common stock. The dividend is payable on September 11, 2015 to shareholders of record at the close of business on August 17, 2015.
B/E Aerospace Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Re-Affirms Earnings Guidance for the Year 2015; Provides Financial Guidance for the Year 2016
Jul 22 15
B/E Aerospace Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of USD 700.6 million compared to USD 662.8 million a year ago. Operating earnings was USD 127.3 million compared to USD 111.6 million a year ago. Earnings before income taxes were USD 103.2 million compared to USD 79.9 million a year ago. Net earnings from continuing operations were USD 78.9 million compared to USD 62.3 million a year ago. Diluted net earnings per share from continuing operations was USD 0.75 compared to USD 0.60 a year ago. EBITDA was USD 148.2 million compared to USD 138.3 million a year ago. Second quarter 2015 effective tax rate of 23.5%.
For the six months, the company reported revenues of USD 1,390.6 million compared to USD 1,307.4 million a year ago. Operating earnings was USD 253.0 million compared to USD 221.7 million a year ago. Earnings before income taxes were USD 204.6 million compared to USD 159.4 million a year ago. Net earnings from continuing operations were USD 156.5 million compared to USD 125.5 million a year ago. Diluted net earnings per share from continuing operations was USD 1.49 compared to USD 1.20 a year ago. Net cash flows provided by operating activities was USD 109.9 million compared to USD 67.7 million a year ago. Capital expenditures were USD 48.0 million compared to USD 122.7 million a year ago.
The company is confirming revenue guidance for 2015 of approximately USD 2.8 billion, which was lowered in April from a range of USD 2.8 to USD 2.9 billion. Operating margin is expected to be in excess of 18%. 2015 net earnings per share are expected to be approximately USD 3.03 per diluted share or approximately 21% higher than 2014 adjusted net earnings per diluted share, and 2015 free cash flow conversion ratio is expected to be approximately 75% of net earnings. The company expects the full year effective tax rate to be 22%. For the 2015 free cash flow conversion ratio to be approximately 75% of net income.
The company expected to provide first look at full year 2016 in October as the company have done historically. However, notwithstanding the Company's record backlog, the timing of deliveries is such that The company expects 2016 revenues to be 1% to 2% higher as compared to 2015 and the company continue to expect a strong acceleration in the 2017 revenue growth rate.
B/E Aerospace Inc. to Report Q2, 2015 Results on Jul 22, 2015
Jul 15 15
B/E Aerospace Inc. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Jul 22, 2015