Upcoming AWS Coverage on Huntington Ingalls Industries Post-Earnings Results

LONDON, UK / ACCESSWIRE / March 2, 2017 / Active Wall St. announces its post-earnings coverage on BE Aerospace, Inc. (NASDAQ: BEAV). The Company released its financial results for the fourth quarter fiscal 2016 (Q4 FY16) and full year fiscal 2016 (FY16) on February 10, 2017. The Wellington, Florida-based Company's quarterly revenues registered a 10.8% y-o-y growth, outperforming market consensus estimates. Register with us now for your free membership at:

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One of BE Aerospace's competitors within the Aerospace/Defense Products & Services space, Huntington Ingalls Industries, Inc. (NYSE: HII), reports on February 16, 2017, its Q4 and full year 2016 financial results. AWS will be initiating a research report on Huntington Ingalls Industries in the coming days.

Today, AWS is promoting its earnings coverage on BEAV; touching on HII. Get our free coverage by signing up to:

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Earnings Reviewed

For Q4 FY16, B/E Aerospace reported revenue of $730.4 million compared to $659.2 million recorded at the end of Q4 FY15. Revenue numbers for Q4 FY16 topped the market consensus estimates of $701.3 million.

The aircraft cabin interior products manufacturer's net earnings stood at $60.4 million, or $0.60 per diluted share, in Q4 FY16 compared to $83.4 million, or $0.81 per diluted share, in Q4 FY15. The Company's adjusted net earnings for the reported quarter came in at $80.4 million, or $0.80 per diluted share, versus $78.6 million, or $0.76 per diluted share, in Q4 FY15. Wall Street had also expected the Company to report adjusted net earnings of $0.80 per diluted share.

In FY16, B/E Aerospace's revenue came in at $2.93 billion compared to $2.73 billion in the previous year's same period. The Company reported net earnings of $311.1 million, or $3.08 per diluted share, in FY16 versus $285.7 million, or $2.73 per diluted share, in FY15. Meanwhile, the Company's adjusted net earnings increased to $331.1 million, or $3.28 per diluted share, in FY16 from $316.4 million, or $3.03 per diluted share, in FY15.

Operational Metrics

During Q4 FY16, B/E Aerospace's selling, general, and administrative expenses were $90.7 million versus $80.7 million in the prior year's same quarter. The Company spent $73.5 million on research, development, and engineering in Q4 FY16 compared to $58.0 million in the last year's comparable quarter. The Company's operating earnings for Q4 FY16 came in at $108.6 million, or 14.9% of revenues, compared to $124.1 million, or 18.8% of revenues, in Q4 FY15. Additionally, the Company reported adjusted operating earnings of $130.5 million in Q4 FY16 which came in above $124.1 million recorded in the last year's comparable quarter.

Cash Flow & Balance Sheet

During year ended December 31, 2016, net cash provided by operating activities was $306.8 million compared to $310.8 million in the prior year's corresponding period. The Company recorded free cash flow of $277.0 million in full year FY16. At the close of books on December 31, 2016, B/E Aerospace had $202.0 million in cash and cash equivalents compared to $154.1 million at the close of books on December 31, 2015. The Company's long-term debt stood at $2.04 billion as on December 31, 2016, compared to $2.03 billion as on December 31, 2015.

Dividend

In a separate press release on February 24, 2017, B/E Aerospace's Board of Directors declared a quarterly dividend of $0.21 per outstanding share of the Company's common stock. The dividend is payable on March 24, 2017, to shareholders of record at the close of business on March 06, 2017.

Merger Update

On October 23, 2016, Rockwell Collins (NYSE:COL) had entered into a definitive agreement to acquire B/E Aerospace for approximately $6.4 billion in cash and stock, plus the assumption of $1.9 billion in net debt.

In connection with the pending merger transaction, on February 03, 2017, both the companies have filed a registration statement with Securities and Exchange Commission (SEC) on Form S-4 that included a joint proxy statement. The registration statement has been declared effective by the SEC. Furthermore, B/E Aerospace has arranged for a special meeting of stockholders, scheduled for March 09, 2017, at the Hilton Palm Beach Airport, West Palm Beach, Florida, at 10:00 a.m.

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Stock Performance

On Wednesday, March 01, 2017, BE Aerospace's share price finished the trading session at $64.23, marginally advancing 0.99%. A total volume of 1.21 million shares exchanged hands. The stock has surged 28.30% and 45.55% in the last six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 6.71%. The stock is trading at a PE ratio of 20.84 and has a dividend yield of 1.31%.

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