Aerospace fastener supplier KLX Inc. reported Aerospace Solutions Group segment (“ASG”) revenues – primarily from fasteners – rose 5.4% in the third quarter of 2017 to $367.6 million, driven by a mid-single digit percentage increase in sales to commercial aerospace manufacturing customers, including initial revenue contributions from new business awards announced in 2016, partially offset by a decrease in demand from business jet manufacturing customers.

Q3 ASG segment operating earnings rose 10.4% to $62.4 million, while adjusted EBITDA climbed 10.1% to $73.9 million.

“We are also pleased to report that ASG continued its market momentum with three new contract awards and market share gains valued at approximately $125 million in the aggregate, supporting the F-35 Joint Strike Fighter, Pratt & Whitney’s new GTF engine and Bombardier’s C-Series commercial aircraft,” stated CEO Amin Khoury.

Overall Q3 sales at KLX – the former Consumables Management segment of B/E Aerospace – increased 17.4% to $456.7 million. Q3 operating earnings gained 56.7% to $60.5 million, while adjusted EBITDA increased 38% to $83.3 million.

ASG segment sales during the first nine months of 2017 gained 6% to $1.07 billion, with operating earnings up 8.8% to $181.2 million. Revenues from both commercial aerospace manufacturing and aftermarket customers increased by an approximate mid-single digit percentage.

Consolidated KLX revenue improved 16% to $1.3 billion, with operating earnings up 71.3% to $161.4 million. Web: KLX.com