B/E Aerospace announced second quarter 2013 financial results. Second quarter 2013 revenues of $850.3m increased $82.2m, or 10.7%, as compared with the prior year period. Second quarter 2013 operating earnings were $158.7m, an increase of 15.2%, and operating margin of 18.7% increased 80 basis points as compared to the prior year period. The growth in operating earnings and the improvement in operating margin occurred primarily as a result of operating leverage at the higher revenue level and ongoing operational efficiency initiatives. Second quarter 2013 net earnings and earnings per diluted share were $92.4m and $0.89 per share, increases of 29.8% and 29.0%, respectively, as compared with the prior year period.
Second quarter 2013 commercial aircraft segment (CAS) revenues increased 9.9% while operating earnings of $79.7m increased 14.0% as compared with the prior year period, and operating margin of 18.5% expanded 70 basis points, due to operating leverage at the higher revenue level and ongoing operational efficiency initiatives.
Second quarter 2013 business jet segment (BJS) revenues increased 19.3% while operating earnings of $17.7m increased 42.7% as compared with the prior year period. Operating margin of 16.6% expanded 270 basis points as compared with the prior year period, reflecting the increase in revenues, an improved mix of revenues and ongoing operational efficiency initiatives.
