B/E Aerospace Posts Upbeat Q1 Earnings, But Revenue Misses Views

reported better-than-expected earnings for the first quarter and raised its full year 2015 earnings forecast. However, the company's revenue misses analysts' estimates. The Wellington, Florida-based company posted quarterly earnings of $77.6 million, or $0.74 per share, compared to $63.2 million, or $0.61 per share, in the year-ago period Its revenue climbed 7 percent to $690 million. However, analysts were expecting earnings of $0.73 per share on revenue of $701.1 million. Commercial aircraft segment revenue rose 0.5 percent to $526.1 million, while business jet segment revenue climbed 35.2 percent to $163.9 million. Bookings rose 12 percent to around $855 million in the latest quarter. Operating margin rose 50 basis points to 18.2 percent. The company's board declared a quarterly dividend of $0.19 per share. The average estimate among 6 Estimize users was for earnings of $0.74 per share and revenue of $700.00 million. "This is our first full quarter following the spin-off of KLX Inc. Our company and management team are now intensely focused on the manufacturing of aircraft cabin interior equipment," said Amin J. Khoury, Executive Chairman of B/E Aerospace. "In addition to our solid first quarter results, we declared our first quarterly dividend. This was the first step in our capital allocation policy geared toward returning capital to our shareholders." For the full year, B/E Aerospace now projects earnings of $3.03 per share on revenue of $2.8 billion. B/E Aerospace shares fell 0.02 percent to close at $63.43 yesterday.