Financial Performance - Consolidated net sales for the first nine months of fiscal 2024 increased by 40% to a record $2,844.0 million, up from $2,031.7 million in the same period of fiscal 2023[87]. - The Flight Support Group (FSG) net sales rose by 67% to $1,947.6 million, driven by $625.5 million from acquisitions and 13% organic growth[87]. - The Electronic Technologies Group (ETG) net sales increased by 5% to $927.4 million, with $39.4 million contributed by acquisitions, despite a 1% organic decline[87]. - Consolidated net sales increased by 37% to a record $992.2 million in Q3 fiscal 2024, up from $722.9 million in Q3 fiscal 2023, driven by a 68% increase in FSG net sales[99]. - Net income attributable to HEICO increased by 25% to a record $374.4 million, or $2.67 per diluted share, in the first nine months of fiscal 2024[97]. - Net income attributable to HEICO increased by 34% to a record $136.6 million, or $0.97 per diluted share, in Q3 fiscal 2024, up from $102.0 million, or $0.74 per diluted share, in Q3 fiscal 2023[109]. Profitability and Margins - Consolidated gross profit margin improved to 39.0% in the first nine months of fiscal 2024, up from 38.8% in the same period of fiscal 2023[88]. - Gross profit margin improved to 39.2% in Q3 fiscal 2024, up from 38.6% in Q3 fiscal 2023, reflecting increases in both ETG and FSG margins[100]. - Consolidated operating income increased by 39% to a record $605.8 million, with the FSG's operating income rising by 61% to $438.6 million[91]. - Operating income increased by 45% to a record $216.4 million in Q3 fiscal 2024, up from $149.4 million in Q3 fiscal 2023, with FSG operating income rising by 72%[103]. Expenses and Liabilities - Interest expense rose significantly to $113.9 million in the first nine months of fiscal 2024, compared to $29.6 million in the same period of fiscal 2023, primarily due to increased debt from acquisitions[94]. - Consolidated SG&A expenses rose to $172.8 million in Q3 fiscal 2024, compared to $129.4 million in Q3 fiscal 2023, but as a percentage of net sales, it decreased to 17.4% from 17.9%[101][102]. - Interest expense increased to $36.8 million in Q3 fiscal 2024, compared to $12.1 million in Q3 fiscal 2023, primarily due to higher outstanding debt from acquisitions[105]. - Current liabilities decreased to $500,516 from $531,466, reflecting a reduction of about 5.8%[127]. - Noncurrent liabilities decreased to $2,808,168 from $2,895,592, showing a decline of approximately 3.0%[127]. Research and Development - Total new product research and development expenses were $82.8 million in the first nine months of fiscal 2024, up from $68.5 million in the same period of fiscal 2023[88]. - The company continues to focus on introducing new products and services, which is critical for maintaining competitive pricing and sales growth[133]. Tax and Income - The effective tax rate decreased to 17.3% in the first nine months of fiscal 2024, down from 19.0% in the same period of fiscal 2023[95]. - The effective tax rate decreased to 18.0% in Q3 fiscal 2024, down from 18.4% in Q3 fiscal 2023, reflecting prior year impacts of non-deductible acquisition expenses[107]. - Net income from consolidated operations for the nine months ended July 31, 2024, was $387,785, compared to $363,655 attributable to HEICO, indicating a growth in profitability[129]. Cash Flow and Assets - Net cash provided by operating activities increased by 55% to $466.7 million in the first nine months of fiscal 2024, up from $300.4 million in the same period of fiscal 2023[115]. - As of July 31, 2024, current assets increased to $1,607,679, up from $1,440,062 as of October 31, 2023, representing an increase of approximately 11.7%[127]. - The amount due from non-guarantor subsidiaries increased to $207,541 from $182,795, indicating a rise of approximately 13.5%[127]. - Redeemable noncontrolling interests decreased to $238,357 from $252,013, a decline of about 5.4%[127]. Future Outlook and Risks - The company remains optimistic about achieving net sales growth in both FSG and ETG, driven by acquisitions and sustained product demand[110]. - The company anticipates potential risks related to public health threats and market demand fluctuations, which could impact future performance[131]. - The management confirmed that there have been no changes in internal control over financial reporting that materially affected the company during the third quarter[138].

The company reported a choppy quarter, but the long-term thesis is intact. Heico (HEI -1.90%) reported mixed results in its fiscal third quarter, beating earnings primarily thanks to a lower-than-expected tax rate. Investors were largely put off by the news, sending Heico shares down as much as 6% at the open and 3% as of 10:30 a.m. ET. Strong aerospace, muted electronics Heico is a maker of electronics and other components for a variety of industries, with an emphasis on aerospace. The company earned $0.97 ...

Group 1 - Heico Corp reported a mixed fiscal third-quarter performance, with earnings exceeding Wall Street estimates but revenue falling short of expectations despite strong organic growth in the Flight Support Group segment [1] - The stock is currently trading at $238.74, down 2.9%, and remains close to its record high of $258.84 achieved on August 15, reflecting a year-to-date gain of 32.6% [2] - The stock has shown strong bullish sentiment, with a 50-day call/put volume ratio of 7.26, indicating that bullish bets have dominated over the last 10 weeks [3] Group 2 - The 60-day moving average is providing support for the stock during the current pullback, with the stock having closed below this trendline only a few times since the beginning of 2024 [2] - Heico's stock performance is notable as it has maintained a strong position in the market, with bullish options activity suggesting investor confidence [3]

Heico Corporation (HEI) came out with quarterly earnings of $0.97 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.59%. A quarter ago, it was expected that this company would post earnings of $0.80 per share when it actually produced earnings of $0.88, delivering a surprise of 10%. Over the last four quarters, the company h ...

For the quarter ended July 2024, Heico Corporation (HEI) reported revenue of $992.25 million, up 37.3% over the same period last year. EPS came in at $0.97, compared to $0.77 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $986.55 million, representing a surprise of +0.58%. The company delivered an EPS surprise of +6.59%, with the consensus EPS estimate being $0.91. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

Financial Performance - Net sales increased 37% to a record $992.2 million in Q3 2024, up from $722.9 million in Q3 2023[2] - Operating income increased 45% to a record $216.4 million in Q3 2024, up from $149.4 million in Q3 2023[2] - Net income increased 34% to a record $136.6 million in Q3 2024, up from $102.0 million in Q3 2023[1] - EBITDA increased 45% to $261.4 million in Q3 2024, up from $179.8 million in Q3 2023[3] - Net sales for Q3 2024 increased to $992.2 million, up 37.2% from $722.9 million in Q3 2023[25] - Net income attributable to HEICO for Q3 2024 rose to $136.6 million, a 33.9% increase from $102.0 million in Q3 2023[25] - Operating income for Q3 2024 reached $216.4 million, a 44.9% increase from $149.4 million in Q3 2023[25] - Net sales for the nine months ended July 31, 2024, totaled $2.84 billion, up 40.0% from $2.03 billion in the same period in 2023[26] - Net income attributable to HEICO for the nine months ended July 31, 2024, was $374.4 million, a 24.7% increase from $300.2 million in the same period in 2023[26] - Net income attributable to HEICO for the nine months ended 2024 increased to $374,421K from $300,170K in 2023, a growth of 24.7%[35] - EBITDA for the nine months ended 2024 rose to $738,253K from $524,094K in 2023, an increase of 40.9%[35] - Net income attributable to HEICO for the three months ended July 31, 2024, was $136,577K, up from $102,023K in 2023, a 33.9% increase[35] - EBITDA for the three months ended July 31, 2024, reached $261,415K, compared to $179,804K in 2023, a 45.4% rise[35] - Trailing twelve months EBITDA as of July 31, 2024, was $972,469K, up from $758,310K as of October 31, 2023, a 28.2% increase[35] Flight Support Group Performance - Flight Support Group's net sales increased 68% to a record $681.6 million in Q3 2024, up from $405.0 million in Q3 2023[9] - Flight Support Group's operating income increased 72% to a record $153.6 million in Q3 2024, up from $89.2 million in Q3 2023[10] - Flight Support Group's net sales surged to $681.6 million in Q3 2024, a 68.3% jump from $405.0 million in Q3 2023[25] Electronic Technologies Group Performance - Electronic Technologies Group's net sales were $322.1 million in Q3 2024, compared to $325.9 million in Q3 2023[14] - Electronic Technologies Group's operating income increased 2% to $75.8 million in Q3 2024, up from $74.2 million in Q3 2023[15] - Electronic Technologies Group's net sales slightly decreased to $322.1 million in Q3 2024, down 1.1% from $325.9 million in Q3 2023[25] Debt and Liquidity - Total debt to net income ratio improved to 4.73x as of July 31, 2024, down from 6.14x as of October 31, 2023[5] - Net debt to EBITDA ratio improved to 2.11x as of July 31, 2024, down from 3.04x as of October 31, 2023[5] - Net debt as of July 31, 2024, decreased to $2,056,157K from $2,307,030K as of October 31, 2023, a reduction of 10.9%[35] - Total debt to net income attributable to HEICO ratio improved to 4.73 as of July 31, 2024, from 6.14 as of October 31, 2023[35] - Net debt to EBITDA ratio improved to 2.11 as of July 31, 2024, from 3.04 as of October 31, 2023[35] Cash Flow and Assets - Cash and cash equivalents as of July 31, 2024, stood at $202.9 million, up 18.6% from $171.0 million as of October 31, 2023[29] - Total assets as of July 31, 2024, increased to $7.42 billion, up 3.2% from $7.20 billion as of October 31, 2023[29] - Net cash provided by operating activities for the nine months ended July 31, 2024, was $466.7 million, a 55.4% increase from $300.4 million in the same period in 2023[31]

HEICO Corporation (HEI) recently announced that its Flight Support Group has acquired the Aerial Delivery and Descent Devices divisions of Capewell Aerial Systems ("Capewell") for cash. Capewell is a leading provider of proprietary aircraft cockpit emergency egress and aerial delivery products for various commercial aerospace and defense uses. HEICO's Gain From Capewell Acquisition Capewell is a critical supplier to a wide-ranging customer base that includes leading OEMs, end-users and distributors. The com ...

The upcoming report from Heico Corporation (HEI) is expected to reveal quarterly earnings of $0.91 per share, indicating an increase of 18.2% compared to the year-ago period. Analysts forecast revenues of $986.55 million, representing an increase of 36.5% year over year. The consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe ...

HEI could be on the verge of another rally after moving 5.4% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock. The bullish case only gets stronger once investors take into account HEI's positive earnings estimate revisions. There have been 8 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well. Investors may want to watch HEI for more gains in the near future given the company's key technical level and ...

HEICO's cost of sales increased 38.5% year over year to $583.6 million in the quarter under review. The company's selling, general and administrative expenses increased 48.6% to $162.6 million. Flight Support Group: Net sales from this segment surged 65% year over year to $647.2 million. This rise was driven by strong organic growth of 12% and the positive impact of its fiscal 2024 acquisitions. The segment's operating income rose 11% year over year to $75.3 million, primarily driven by improved gross profi ...