Heico Beats the Street and Raises Its Dividend

After the closing bell, Heico (HEI) reported fiscal Q4 earnings of 70 cents per share. That was one penny more than expectations. Quarterly sales rose 20% to $609.6 million. Operating income was up 27% and Heico’s operating margin improved to 24%.

For the year, sales rose by 18% to $2.2 billion. This is for the fiscal year that ended in October. For the year, Heico made $2.55 per share. The company also raised its semi-annual dividend by 11% to 10 cents per share.

The CEO said:

“As we look ahead to fiscal 2023, we anticipate net sales growth in both the FSG and ETG, principally driven by demand for the majority of our products. Additionally, recent cost inflation and potential supply chain disruptions lingering from the COVID-19 global pandemic (the “Pandemic”) may lead to higher material and labor costs. During fiscal 2023, we plan to continue our commitments to developing new products and services, further market penetration, and an aggressive acquisition strategy while maintaining our financial strength and flexibility.”

Posted by on December 19th, 2022 at 4:29 pm


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