B/E Aerospace reports second quarter 2015 financial results

B/E Aerospace posted its second quarter 2015 financial results. Second quarter 2015 revenues of US$700.6m increased 5.7% as compared with the prior year period (revenues increased 6.5% adjusting for the impact of unfavorable Euro exchange rates). In addition, revenues from the Company’s Russian customers were negatively impacted by the economic sanctions and the collapse in global oil and gas prices. Excluding sales to Russian customers and adjusting for the negative impact from currency, revenues increased 7.8%. Organic revenue growth was 2.2% and was 2.9% on a constant currency basis. Spares revenues which increased at a double-digit rate in the first quarter, grew at a more tepid 3.3% rate in the second quarter. perating earnings of US$127.3m increased 6.3% and operating margin of 18.2% expanded 10 basis points, each as compared with the prior year period. On a GAAP basis, operating earnings increased 14.1%. Second quarter 2015 net earnings were US$78.9m representing an increase of 17.1%, as compared with the prior year period. On a GAAP basis, net earnings increased 26.6%.