B/E Aerospace Turns To Profit In Q4; Lifts 2016 Outlook - Quick Facts

(RTTNews) - B/E Aerospace, Inc. (BEAV), a manufacturer of aircraft cabin interior products, reported fourth-quarter net earnings from continuing operations of $83.4 million or $0.81 per share, compared to loss from continuing operations of $36.0 million or $0.35 per share in the same period last year.

Adjusted earnings from continuing operations for the quarter were $0.81 per share, compared to $0.61 per share last year. On average, analysts polled by Thomson Reuters expected the company to earn $0.81 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter increased 3 percent to $659.2 million from $637.8 million in the year-ago period. On a constant currency basis, revenues increased approximately 4 percent. Analysts had a consensus revenue estimate of $708.90 million.

For fiscal 2016, B/E Aerospace raised its financial guidance. The company now expects revenues to increase about 3 percent from 2015 and net earnings to increase by about 6 percent to approximately $3.20 per share.

Earlier, the company forecast 2016 revenues to be 1 to 2 percent higher than 2015 revenues and net earnings to increase approximately 5 percent to approximately $3.15 to $3.20 per share.

The Street expects earnings of $3.21 per share for the year on revenues of $2.83 billion.

For fiscal 2017, B/E Aerospace affirmed its outlook for revenue growth of approximately 7.5 percent as compared with 2016 and for earnings per share growth in the low to mid-teens as compared with 2016.