Heico Earns 62 Cents per Share

We had a Buy List earnings report today. After the bell, Heico (HEI) reported fiscal Q2 earnings of 62 cents per share. That’s up from 51 cents per share one year ago. It also topped Wall Street’s forecast by one penny per share.

Heico said improvement in the commercial aerospace market has resulted in seven consecutive quarters of sequential growth in net sales and operating income at the Flight Support Group.

This was a very good quarter for Heico. Quarterly sales rose 15% to $171.9 million. Operating income increased 27% to $122.8 million. That’s a company record. What I like is that Heico’s operating margin increased to 22.8%. That’s up from 20.7% one year ago.

Laurans A. Mendelson, HEICO’s Chairman and CEO, commented on the Company’s second quarter results stating, “We are very pleased to report record quarterly consolidated operating income driven mainly by record quarterly operating income at the Flight Support Group. These results principally reflect 9% consolidated organic growth in our net sales principally arising from a continued rebound in demand for our commercial aerospace products and services.

Heico didn’t offer any fiscal guidance, but they said they expect air travel to continue to improve. The stock was up a little over 1% in the after-hours market.

Posted by on May 23rd, 2022 at 4:19 pm


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