Heico Corp Stock Price, News & Analysis

HEICO Corporation (NYSE:HEI, HEI.A) has acquired 80.1% of RH Laboratories, Inc. for cash. RH specializes in RF and microwave assemblies for defense applications and has been operational for 20 years, boasting a solid customer base that includes major defense contractors and the U.S. Government. The acquisition is expected to be accretive to HEICO's earnings within the first year. The founders of RH will retain 19.9% ownership and continue in leadership roles.

VPT, part of HEICO, has launched the SVRPL Series of space-qualified DC-DC converters, tailored for harsh radiation environments. These converters, operating within an input voltage range of 3.1 to 5.5 V and a 6A output, are designed for high-performance space processors. The SVRPL3R306SG model is based on the radiation-hardened ISL70001ASEH regulator and meets MIL-PRF-38534 Class K requirements. They function efficiently across military temperature ranges and are subjected to stringent qualification standards essential for modern digital electronics in space.

HEICO Corporation reported a significant 42% increase in net income to $76.9 million in Q3 2021, with a 47% rise in operating income and a 22% increase in net sales to $471.7 million. Year-to-date net income reached $218.2 million, although it shows a decline compared to the previous year's $251.7 million. The company’s debt-to-equity ratio improved to 17.4% from 36.8%. Cash flow from operations rose 33% to $124 million in Q3. The company remains cautious about future guidance due to uncertainties related to the COVID-19 pandemic.

HEICO Corporation (NYSE:HEI, HEI.A) will report its third quarter financial results for the period ending July 31, 2021, after NYSE close on August 24, 2021. A conference call is scheduled for August 25, 2021, at 9:00 a.m. EDT, where the company will discuss the results. Participants can join by dialing (833) 377-4220 for US and Canada, and (206) 596-9903 for international calls, using Conference ID 9060175. HEICO has two classes of common stock: HEI and HEI.A, differing mainly in voting rights. For more details, visit heico.com.

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.