Heico Corp Stock Price, News & Analysis

HEICO Corporation will release its financial results for the second quarter ended April 30, 2022, on May 23, 2022, after the NYSE closes. The earnings report will be accessible on the company's website. A teleconference will be held on May 24, 2022, at 9:00 a.m. EDT to discuss these results, with details provided for participants. HEICO, traded under symbols HEI.A and HEI, focuses on aviation, defense, and other industries, serving prominent customers globally.

VPT, a HEICO company, announced the launch of its 120 volt SGRB12028S DC-DC Converter, utilizing EPC Space GaN technology for efficiency up to 95%. This radiation-hardened converter is designed for high-power space applications and operates across harsh environments, with a total ionizing dose of 100 krad(Si). The SGRB Series includes features like an integrated EMI filter and a wide operational temperature range of -35°C to 85°C. It aims to maintain VPT's status as a leader in space-rated DC-DC converters.

HEICO Corporation (NYSE:HEI.A, HEI) announced the successful acquisition of Pioneer Industries, a leading specialty distributor of military aviation spares. The acquisition, finalized on March 18, 2022, follows a regulatory approval received on February 10, 2022. HEICO anticipates this acquisition will positively impact its earnings within a year. Pioneer Industries, located in Farmingdale, NY, serves notable clients including the US Department of Defense, enhancing HEICO's position in the defense sector.

HEICO Corporation announced that its subsidiary, Lucix, has acquired Flight Microwave Corporation in a 100% stock purchase. The acquisition is fully in cash, but specific financial details were not disclosed. HEICO anticipates that this acquisition will be accretive to earnings within the year following completion. Flight Microwave is renowned for its custom high power filters used in space and defense, including GPS systems. The firm will integrate into Lucix and retain most of its existing staff, enhancing HEICO's capabilities in the electronic technologies sector.

Airbus Ventures has invested in CesiumAstro Inc., which raised $60 million in a Series B funding round, co-led by Airbus Ventures and Forever Ventures, with participation from L3Harris Technologies (NYSE: LHX) and returning investors including HEICO (NYSE: HEI). CesiumAstro, founded in 2017, has secured nearly $90 million to date, aiming to enhance its research, development, and manufacturing capabilities. The company, based in Austin, Texas, focuses on advanced aerospace communication systems for commercial and defense applications.

CesiumAstro Inc. has successfully raised $60 million in a Series B funding round, co-led by Airbus Ventures and Forever Ventures, with strategic participation from L3Harris Technologies (NYSE: LHX) and returning investors like HEICO (NYSE: HEI). This brings their total funding since 2017 to nearly $90 million. The capital will enhance their research, development, and manufacturing capabilities, enabling expansion both domestically and abroad. Cesium’s cutting-edge communication systems cater to both commercial and defense sectors, aiming to transform aerial and space communications.

HEICO Corporation reported a 23% increase in net income for Q1 fiscal 2022, totaling $86.9 million, or $0.63 per diluted share. This improvement aligns with a 17% rise in net sales to $490.3 million, driven by a recovering commercial aerospace market. The operating margin improved to 20.2%, up from 19.2% year-over-year. Despite challenges from the pandemic, the Flight Support Group experienced significant growth, with net sales up 37%. The company continues to prioritize strategic acquisitions and maintain a strong balance sheet, with debt ratios improving.

HEICO Corporation has announced its Flight Support Group will acquire 74% of Pioneer Industries for cash, with potential additional payments based on post-closing performance. The acquisition, expected to enhance earnings within a year, integrates Pioneer, a key military aviation parts distributor, into HEICO's operations. The Yormack brothers will retain 26% ownership and continue their roles. The deal awaits regulatory approval. This strategic move aims to expand HEICO's defense sector capabilities, facilitating support for military and defense aftermarket needs.

HEICO Corporation will release its financial results for the first quarter ending January 31, 2022, on February 23, 2022, after the NYSE closes. The earnings release can be accessed via their website. A conference call to discuss these results is scheduled for February 24, 2022, at 9:00 a.m. EST. Participants can join by calling US and Canada (833) 377-4220 or International (206) 596-9903, using Conference ID 7373476. HEICO has two classes of stock: HEI and HEI.A, which differ only in voting rights.