Tue, Jun 10, 2014 11:15 AM EDT 1:31
B/E Aerospace says it will split into two separate publicly traded companies with one business focusing on manufacturing of aircraft cabin interior equipment and one focused on distribution, logistics, and technical services for the aerospace and energy services markets. Breakout Stocks Portfolio Manager Bryan Ashenberg, CFA says BE Aerospace's announcement is a result of its strategic review process about the future of the company. Ashenberg says the split will likely take place in the first quarter of 2015. On a conference call Tuesday, B/E Aerospace raised its full year 2014 earnings guidance to $4.35 from $4.30, that's still below the consensus estimate of $4.39 a share in earnings.