Heico Earned 62 Cents per Share

After the closing bell, Heico (HEI) reported fiscal Q4 earnings of 62 cents per share. That’s up from 45 cents per share one year ago. Wall Street had been expecting 58 cents per share.

For the year, Heico made $2.21 per share which was down slightly from the $2.29 per share it made in the year before.

For the quarter, net sales increased 20% to $509.4 million and operating income increased 29% to $115.0 million.

CEO Laurans A. Mendelson said:

As we look ahead to fiscal 2022, we expect the commercial air travel recovery to continue, particularly in certain domestic travel markets, while less so in international markets, even though the Pandemic will likely continue to adversely impact the commercial aerospace industry and HEICO. International markets have not recovered to the extent of domestic markets, and while we are confident of their future recovery and the potential sales increase, the timing is uncertain. We remain cautiously optimistic that the ongoing worldwide COVID-19 vaccine rollouts, including boosters, will continue to positively influence commercial air travel, and benefit the markets we serve. As we’ve all continued to see and learn, it is very difficult to predict the Pandemic’s path and effect, including factors such as new variants and vaccination rates, which can impact our key markets. Therefore, we feel it would not be responsible to provide fiscal 2022 net sales and earnings guidance at this time. But, our ongoing conservative policies, strong balance sheet, and high degree of liquidity enable us to invest in new research and development, execute on our successful acquisition program, and position HEICO for market share gains.”

The stock is up 3% after hours.

Posted by on December 15th, 2021 at 4:32 pm


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