Management attributes the 14% sales increase to a combination of 12% organic growth in Flight Support and 6% in Electronic Technologies, supplemented by disciplined M&A execution. The 'secret sauce' of HEICO's 36-year compounding success is framed as a culture of 'doing the right thing,' prioritizing long-term brand protection and quality over short-term earnings smoothing. Flight Support Group (FSG) margin expansion to 24.5% was driven by SG&A efficiencies and a favorable product mix within repair an ...