B/E Aerospace 3Q2013 results exceed expectation, issues 2014 guidance
B/E Aerospace revenue up 16% - financial highlights for three months ended 30-Sep-2013:
- Revenue: USD888.1 million, +15.8% year-on-year;
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- Commercial aircraft: USD456.6 million, +18.4%;
- Operating profit: USD160.1 million, +19.2%;
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- Commercial aircraft: USD82.4 million, +22.4%;
- Net profit: USD92.7 million, +401%;
- Total assets: USD5562 million;
- Cash and ash equivalents: USD573.8 million;
- Total liabilities: USD3069 million;
- 2014 forecast:
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- Revenue: USD4000 million;
- Earnings per share: USD4.25. [more - original PR]
B/E Aerospace: "Our full year 2013 EPS guidance of approximately USD3.50 per diluted share (USD3.52 excluding current period acquisition expenses) represents an increase of approximately 24 percent as compared to 2012. Our total backlog, both booked and awarded but unbooked, of approximately USD8.8 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 continued strong revenue growth over the 2013-2015 time period," Amin Khoury, Chairman and Chief Executive Officer. Source: Company statement, 23-Oct-2013.