24-Oct-2012 9:59 AM

B/E Aerospace reports mixed profits in 3Q2012, raises 2012 and 2013 guidance

B/E Aerospace revenue up 21% - financial highlights for three months ended 30-Sep-2012:

  • Revenue: USD766.7 million +20.6% year-on-year;
    • Commercial aircraft: USD385.6 million, +15.8%;
  • Segment operating profit: USD138.9 million, +23.9%;
    • Commercial aircraft: USD67.3 million, +18.9%;
  • Net profit: USD18.5 million, -71.7%;
  • Total assets: USD4998 million, +30.2% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: USD395.2 million, +30.2% when compared to period ended 31-Dec-2011;
  • Total liabilities: USD2923 million, +48.8% when compared to period ended 31-Dec-2011;
  • FY2013 forecast:

B/E Aerospace: “We are raising our 2012 full year guidance to USD2.82 per diluted share inclusive of AIT costs but exclusive of debt prepayment costs. In addition, we have issued our full-year 2013 guidance of approximately USD3.38 per diluted share, representing a year-over-year increase of approximately 20 percent. Our total backlog, both booked and awarded but unbooked, of approximately USD8.25 billion, our expectation for a 14% CAGR in wide-body aircraft deliveries over the next three years, our expectation of rapidly growing revenues from our supplier furnished equipment program deliveries, the expectation for continued growth in global passenger travel, and the attendant increases in capacity all provide a solid foundation for double-digit revenue growth for the next several years,” Amin Khoury, chairman and CEO. Source: Company statement, 23-Oct-2012.

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