Heico Corp Stock Price, News & Analysis

HEICO Corporation (NYSE: HEI.A, HEI) reported strong financial results for the first quarter of fiscal 2023, with net sales reaching a record $620.9 million, up 27% year-over-year. Operating income also increased by 31% to $129.4 million, reflecting improved operating margins at 20.8%. Net income rose 7% to $93 million or $0.67 per diluted share, despite a higher effective tax rate. The company incurred $5.1 million in acquisition costs from its purchase of Exxelia International. Cash flow from operations remained strong at $76.7 million, with the company anticipating ongoing growth in net sales driven by increasing demand in the commercial aerospace sector.

HEICO Corporation will announce its financial results for the first quarter ended January 31, 2023, on February 27, 2023, after the NYSE closing. The earnings release will be accessible on the Company's website. A teleconference to discuss these results is scheduled for February 28, 2023, at 9:00 a.m. EST. Participants can dial (888) 254-3590 for the US and Canada or (646) 828-8193 for international calls, using Conference ID 2796033. HEICO has two classes of common stock, HEI and HEI.A, which differ in voting rights but are identical in economic terms. The Company serves niche markets in aviation, defense, space, medical, telecommunications, and electronics industries.

HEICO Corporation (NYSE:HEI.A and HEI) has successfully completed the acquisition of Exxelia International, acquiring approximately 94% of its outstanding shares. The acquisition, announced on July 28, 2022, involved purchasing shares from an affiliate of IK Partners, a notable European private equity firm. Exxelia specializes in high-reliability passive electronic components for sectors including aerospace, defense, medical, and energy. This strategic move aims to bolster HEICO's capabilities in producing complex electronic components, enhancing both market reach and product offerings.

HEICO Corporation (NYSE: HEI.A, HEI) announced the election of Carol F. Fine to its Board of Directors, effective December 23, 2022. With a 37-year career in banking, Fine brings extensive experience in aviation consulting and private equity financing relevant to HEICO's markets. Her prior roles at major banks and as an independent consultant enhance her understanding of finance and credit markets. The company's leadership expressed confidence that her insights will benefit the board and strengthen HEICO's operational effectiveness.

HEICO Corporation reported a 20% increase in net sales for Q4 FY2022, reaching $609.6 million, along with a 27% rise in operating income to $146.5 million. For the fiscal year, net income climbed 16% to $351.7 million and net sales hit a record $2.208 billion, up 18%. The Flight Support Group saw nine consecutive quarters of growth, with a Q4 operating margin of 24%. Despite successful acquisitions, the company noted ongoing challenges from inflation and supply chain issues. An 11% dividend increase was declared, marking its 89th consecutive payout.

HEICO Corporation has increased its semi-annual cash dividend to $0.10 per share, an 11% rise from the previous rate. This marks the company's 89th consecutive semi-annual cash dividend since 1979. The dividend is scheduled for payment on January 23, 2023, to shareholders of record on January 5, 2023. In addition, HEICO has set its annual meeting for March 17, 2023, for shareholders of record on January 20, 2023.

HEICO Corporation will release its financial results for the fourth quarter ended October 31, 2022, on December 19, 2022, after the NYSE closing. The results will be accessible via the company's website. A subsequent conference call to discuss these results is scheduled for December 20, 2022, at 9:00 a.m. EST. Shareholders can access the call by dialing the provided numbers, and a digital replay will be available for 14 days post-call. HEICO trades both Common Stock (HEI) and Class A Common Stock (HEI.A) with differing voting rights but identical economic terms.

HEICO Corporation announced the acquisition of TRAD SAS by its subsidiary, 3D PLUS, in an all-cash transaction. The deal is anticipated to be accretive to HEICO's earnings within a year. TRAD specializes in radiation engineering, providing services primarily in the space, nuclear, and medical sectors. Founded in 1994, TRAD employs around 75 staff, including many engineers and PhD holders. HEICO is confident that TRAD's advanced capabilities will enhance its offerings in challenges related to radiation effects on electronic components.