B/E Aerospace (BEAV) Misses Q2 EPS by 1c; FY15 Guidance Falls Short of Views

B/E Aerospace (NASDAQ: BEAV) reported Q2 EPS of $0.75, $0.01 worse than the analyst estimate of $0.76. Revenue for the quarter came in at $700.6 million versus the consensus estimate of $704.56 million.

B/E Aerospace sees FY2015 EPS of approximately $3.03, versus the consensus of $3.10. B/E Aerospace sees FY2015 revenue of approximately $2.8 billion, versus the consensus of $2.83 billion.

"I am pleased to report that in addition to our solid second quarter results, we declared our second quarterly dividend, continuing our recently implemented program of returning capital to our shareholders," said Amin J. Khoury, Executive Chairman of B/E Aerospace. "Further, and as expected, beginning in the second half of the year, we began repaying our debt. During July, we made a payment of $125 million toward reducing our outstanding term loan and we expect to make additional repayments later this year."

All of the 2015 results reported herein are presented according to generally accepted accounting principles ("GAAP"). For comparability purposes, this press release presents 2014 results excluding discontinued operations (representing the consumables management segment ("CMS") which was spun-off in December 2014 (the "spin-off")). In addition, 2014 results are adjusted to exclude 2014 acquisition and spin-off related costs and certain 2014 expenses previously allocated to CMS, and to present 2014 income tax expense based on the second quarter 2015 effective tax rate for comparability purposes. These items are described in "Reconciliation of Non-GAAP Financial Measures."

For earnings history and earnings-related data on B/E Aerospace (BEAV) click here.

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