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B/E AEROSPACE INC

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2016 10-K, filed Feb 28, 2017. Its latest SEC filing is a 15-12G from May 2, 2017.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Makes aircraft seats, galley and lavatory systems, and other cabin equipment for commercial airlines and aircraft manufacturers, and provides cabin reconfiguration and certification services. Also makes interiors for business jet manufacturers and operators.

How Did They Make Money?

Customers buy cabin products, generally when shipped or, under some contracts, on delivery or customer acceptance; engineering services are earned as performed, while certain long-term contracts are earned as work advances or units are delivered.

FY2016 revenue

Who Were Their Customers?

Sells commercial aircraft products directly to airlines, aircraft leasing companies and airframe manufacturers; thermal and power products are marketed directly to defense manufacturers, aerospace manufacturers, their suppliers and airlines. Markets business-jet products directly to general aviation manufacturers, completion centers and operators; owners typically use manufacturers and completion centers to arrange buying and installation.

Customers above 10% of revenue, FY2016
of revenue from two customers (13%, 13%)
FY2014: 12% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 11 cents of every revenue dollar as net income in FY2016 and turned 8 cents into free cash flow.

Operating income, FY2016
17% of revenue
▲ +12% vs FY2015 ($452.3M, 17%)
Net income, FY2016
11% of revenue
▲ +9% vs FY2015 ($285.7M, 10%)
Free cash flow, FY2016
8% of revenue
▼ −2% vs FY2015 ($230.3M, 8%)

How Were They Changing?

Since the FY2016 annual report
  • Apr 13, 2017 Rockwell Collins completed its acquisition of B/E Aerospace B/E Aerospace became a wholly owned subsidiary of Rockwell Collins.

Grew. Revenue grew 53% in 4 years, from $1.9B in FY2012 to $2.9B in FY2016, about 11% a year.

Consumables business spun off Earlier, B/E Aerospace sold aerospace fasteners and consumables and provided logistics services; after the spin-off of its consumables management segment, the latest report describes commercial aircraft and business jet as the segments it retained.

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