The following B/E Aerospace (BEAV) conference call took place on October 22, 2014, 08:00 AM ET. This is a transcript of that earnings call:

Company Participants

Other Participants

I would now like to introduce B/E Aerospace's Vice President of Investor Relations, Greg Powell. Mr. Powell, you may begin your conference. Greg Powell (VP of IR): Thank you, Candace. Good morning, and thank you for joining us this morning. Today, we are here to discuss our financial results for the third quarter ended September 30, 2014. By now, you should have received a copy of the news release we issued earlier this morning. If you haven't received it, you'll find a copy on our website. We will begin with remarks from Amin Khoury, our Founder, Chairman, and Co-Chief Executive Officer of B/E Aerospace, and then we will take your questions. For today's call, we have prepared a few slides to help you follow our discussion. You can find our presentation on the Investor Relations page of the B/E Aerospace website at BEAerospace.com. In addition, copies of the slides will be posted on our website for your to refer to after our call. Joining us on the call this morning are Werner Lieberherr, President and Co-Chief Executive Officer, and Tom McCaffrey, Senior Vice President and Chief Financial Officer. As always, in our prepared remarks and our responses to your questions, we rely on the Safe Harbor exemptions under the various Securities Acts. And our Safe Harbor statements in the Company's filings with the Securities and Exchange Commission. We will address questions following our prepared remarks. At that time, Candace will provide instructions. Please limit your questions to no more than two at a time. And now, I will turn the call over to Amin Khoury. Amin Khoury (Founder, Chairman & Co-CEO): Thank you, Greg, and good morning, everyone. As we get started this morning, I'd like to briefly highlight a number of important third-quarter events, items, and accomplishments. First, I'm pleased to report our strong third-quarter 2014 operating results, exclusive of charges. Revenues were up 24%, adjusted operating earnings increased 26%, and adjusted earnings per share was up 63%. That would be 29% using a comparable effective tax rate. Second, on the marketing front, we reported our best ever awards and orders for the nine-month period for our Commercial Aircraft and Business Jet segments. Werner will share specifics relative to new awards and orders in a few minutes. And in fact, we'll report some wonderful news which we received earlier this morning. Third, our plans to spinoff KLX from B/E Aerospace are progressing ahead of earlier expectations. On August 29, we filed our Form 10 registration statement with the SEC, and on October 10, we filed the First Amendment relative thereto. Subject to customary conditions, we now expect to be able to affect the distribution of the shares of KLX to B/E Aerospace shareholders by the end of 2014. Fourth, I'm pleased to welcome Joe Lower as Vice President and Chief Financial Officer, and a member of our B/E Aerospace executive leadership team who will be working directly with Werner Lieberherr and me. Joe's strong financial background and deep knowledge of the aerospace industry, having been with Boeing over the last 12 years, will serve Joe well in his new role at B/E Aerospace. I'm also pleased to welcome Mike Senft as KLX Vice President, Chief Financial Officer, and Treasurer. Mike is a member of the KLX executive leadership team, and will be working directly with Tom McCaffrey and me. He has been a member of the B/E Aerospace Inc Board of Directors since February 2012, and, for more than 20 years, Mike has been a highly valued advisor to B/E Aerospace. Lastly, we announced this morning that we currently estimate that we will incur, during the second half of 2014, debt redemption costs of approximately $235 million, including the write-off of unamortized debt issue costs; approximately $43 million in legal, accounting and advisory costs; and approximately $67 million related to international tax initiatives. We also expect to incur business repositioning and separation costs of approximately $94 million.

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B/E Aerospace (BEAV) Earnings Report: Q3 2014 Conference Call Transcript