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.
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