Heico Corp Stock Price, News & Analysis

HEICO Corporation (NYSE:HEI) has successfully acquired Ridge Engineering, Inc. and The Bechdon Company, Inc. as part of its Flight Support Group. The acquisition, announced on July 6, 2021, was finalized following regulatory approval. HEICO anticipates that these acquisitions will be accretive to earnings within the first year. Ridge specializes in tight-tolerance machining and brazing for defense and aerospace applications, while Bechdon provides precision machining and fabrication services. Both companies will retain their current operations and management teams.

HEICO Corporation announced the acquisition of 89% of Ridge Engineering, Inc. and The Bechdon Company, Inc. for cash, with potential additional consideration based on post-closing earnings. The acquisitions are expected to be accretive to earnings within the first year. Ridge, specializing in tight-tolerance machining for defense and aerospace, and Bechdon, a key subcontractor, operate from substantial facilities and employ 196 people. The deal awaits antitrust clearance and other conditions, strengthening HEICO's position in specialized aerospace manufacturing.

HEICO Corporation announced the acquisition of 80.1% of Camtronics LLC's operating assets for cash, enhancing its market position in the aircraft repair sector. The deal is expected to be accretive to earnings within the first year. Camtronics, an FAA-certified repair station, specializes in proprietary repairs and has been operational since 1999. With 36 employees in Tulsa, Oklahoma, it will continue its operations without expected staff turnover. This acquisition marks HEICO's sixth in the niche market since the COVID-19 pandemic began.

HEICO Corporation (NYSE:HEI, HEI.A) has announced a 12.5% increase in its semi-annual cash dividend, raising it to $.09 per share from $.08 per share. This will be payable on July 15, 2021, for shareholders of record as of July 1, 2021. This marks HEICO's 86th consecutive semi-annual cash dividend since 1979. The company's strong cash flow and confidence in future air travel recovery were highlighted by CEO Laurans A. Mendelson, indicating benefits for shareholders and team members owning shares.

HEICO Corporation (NYSE: HEI, HEI.A) reported a decline in net income for the first six months of fiscal 2021, totaling $141.3 million, or $1.03 per diluted share, down from $197.3 million, or $1.44 per diluted share in the prior year. The second quarter net income was $70.7 million, compared to $75.5 million in Q2 2020. Despite these declines, the company noted record net sales in its Electronic Technologies Group and a sequential increase in the Flight Support Group. Overall, the pandemic continued to affect demand, but debt ratios improved, offering potential for future acquisition opportunities.

On May 25, 2021, HEICO Corporation will release its second quarter financial results for the period ending April 30, 2021, after NYSE market close. A conference call to discuss these results is scheduled for May 26, 2021, at 9:00 a.m. EDT. Interested participants can join by calling the designated numbers. HEICO's Class A Common Stock (HEI.A) and Common Stock (HEI) are traded on the NYSE, with the primary distinction being voting rights. The company operates primarily in aviation, defense, space, and electronics sectors. For more details, visit heico.com.

HEICO Corporation (NYSE:HEI, HEI.A) announced the acquisition of Pyramid Semiconductor LLC, a designer and manufacturer of specialized semiconductor products. The deal, finalized with cash at closing, is expected to enhance HEICO's earnings within a year. Founded in 2003, Pyramid serves military, space, and medical sectors with its high-reliability processors and memory products. HEICO plans to retain all Pyramid staff, continuing operations at the Sunnyvale facility under its 3D PLUS USA subsidiary, which focuses on high-density microelectronic products.

HEICO Corporation (HEI, HEI.A) reported net income of $70.6 million, or $0.51 per diluted share, for Q1 FY2021, down from $121.9 million, or $0.89 per diluted share, in Q1 FY2020. Net sales fell to $417.9 million, a 17.4% decrease year-over-year, primarily due to COVID-19's impact on commercial aerospace demand, which dropped approximately 43%. Operating income decreased to $80.3 million with a margin of 19.2%. Despite these challenges, cash flow from operations improved by 32% to $107.2 million. HEICO remains cautious about fiscal 2021 guidance due to ongoing pandemic effects.

HEICO Corporation (NYSE: HEI, HEI.A) congratulated NASA and JPL for the successful landing of the Mars Perseverance Rover on February 18, 2021. HEICO's subsidiaries supplied mission-critical flight hardware for the rover, including Apex Microtechnology’s power amplifiers and Sierra Microwave's communication hardware. 3D PLUS provided highly reliable components like memory modules, while VPT supplied DC-DC converters for the camera system. Perseverance will explore Jezero Crater for signs of ancient life and collect samples for potential return to Earth.