B/E Aerospace CEO Amin Khoury Breaks Down Awesome Q2 Results (BEAV)
Amin Khoury, CEO, chairman and founder of B/E Aerospace (NASDAQ: BEAV), appeared on CNBC's Squawk Box for an interview on the company's 30 percent increase in Q2 profits to $92.4 million from last year's Q2.
The results caused them to lift their full-year earnings forecast from $3.45 to $3.50 per share. Their revenue rose 11 percent to $850.3 million, beating out analysts' estimates of $843.3 million, making their Q2 EPS $0.89 over $0.85 estimations.
Khoury attributed much of the success to an upswing in the industry, citing global passenger traffic growth and wide-body aircraft deliveries as key contributors.
"That's both Boeing (NYSE: BA) and Airbus. It's the 787, it's the , it's the 7478, it's the A-380, and shortly the A-350," said Khoury.
"So the requirement for lift, especially in the merging markets [Pacific] Rim, Asia, Middle East, is creating demand for more wide-body aircraft, and the expectation is that delivers of wide-body will grow at about a 10 percent compounded rate for the net several years."
According to Khoury, many of these emerging markets now have a middle class of first-time travelers looking to see the world, and much of the of the market demand is coming from travel.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.