Welcome to our dedicated page for HEICO Corporation news (Ticker: HEI), a resource for investors and traders seeking the latest updates and insights on HEICO Corporation stock.
HEICO Corporation (NYSE: HEI.A, HEI) is an innovative leader in the aerospace, defense, and electronics industries. Through its subsidiaries, HEICO designs, manufactures, and sells a diverse range of products and services that cater to both domestic and international markets. The company operates through two primary segments: the Flight Support Group (FSG/HEICO Aerospace) and the Electronic Technologies Group (ETG).
Under HEICO Aerospace, the company provides an extensive range of jet engine and aircraft component replacement parts. Known as the largest independent producer of replacement aircraft parts in commercial aerospace, HEICO also manufactures specialty aircraft and defense-related parts, as well as thermal insulation blankets for various applications. Their product portfolio extends to hydraulic, pneumatic, mechanical, and electro-mechanical components, catering to the aviation sector's diverse needs.
The Electronic Technologies Group focuses on niche electronics for various markets, including aerospace and defense. Recently, HEICO's subsidiary, VPT, Inc., announced the availability of the SVLFL5000 Series of space-qualified DC-DC converters, showcasing the company's commitment to innovation and high-reliability solutions for critical applications in space missions.
HEICO has demonstrated consistent financial strength with significant growth in net sales, operating income, and EBITDA over the recent fiscal quarters. The company has completed strategic acquisitions like Wencor and Exxelia, which complement and expand HEICO’s capabilities, reinforcing its position as a prominent player in the aviation and defense sectors.
HEICO’s fiscal discipline, strong cash flow, and strategic acquisitions highlight its robust growth trajectory. The company's operations are supported by a diversified customer base, including major airlines, overhaul shops, defense contractors, and government agencies globally.
For more detailed information and the latest updates on HEICO Corporation, visit their official website.
HEICO (NYSE:HEI.A)(NYSE:HEI) reported record financial results for Q4 fiscal 2024. Net income increased 35% to $139.7 million ($0.99 per diluted share), while net sales grew 8% to $1,013.7 million. Operating income rose 15% to $218.6 million, with operating margin improving to 21.6%.
For the full fiscal year 2024, net sales increased 30% to $3,857.7 million, with net income up 27% to $514.1 million. The Flight Support Group achieved its 17th consecutive quarter of growth, with 12% organic sales growth. EBITDA increased 13% to $264.0 million in Q4.
The company completed several strategic acquisitions in 2024, including SVM Private , Mid Continent Controls, and Marway Power Solutions. The Board declared a semiannual cash dividend of $0.11 per share payable in January 2025.
HEICO (NYSE:HEI.A)(NYSE:HEI) has declared its 93rd consecutive semiannual cash dividend of $0.11 per share on both its Class A Common Stock and Common Stock. The dividend will be paid on January 17, 2025 to shareholders of record as of January 3, 2025.
The company also announced its annual shareholders meeting, scheduled for March 14, 2025, with voting eligibility for shareholders of record on January 17, 2025. HEICO's management expressed enthusiasm about the company's future growth prospects and highlighted that team members receive the dividend through their 401K plan accounts.
HEICO (NYSE: HEI, HEI.A) has scheduled its fourth quarter fiscal 2024 financial results release for December 17, 2024, after NYSE market close. A conference call will follow on December 18, 2024, at 9:00 a.m. EST. Participants can dial (888) 394-8218 (US/Canada) or (646) 828-8193 (International) using Conference ID 9881151.
The company offers two classes of common stock: Common Stock (HEI) with one vote per share and Class A Common Stock (HEI.A) with 1/10 vote per share. Both classes are economically identical. A digital replay will be available for 14 days following the call on HEICO's website.
HEICO 's Paris-based subsidiary Exxelia has acquired 70% of SVM Private , an Indian manufacturer of electronic passive components. SVM, founded in 1989, specializes in magnetic components and busbars for healthcare and industrial markets. The Chennai-based company will maintain its current management, with founder Ramprasad Meka retaining 30% ownership and continuing as Managing Director. The acquisition is expected to be earnings accretive within a year and strengthens Exxelia's position in medical imaging equipment markets while expanding its presence in India. This strategic move complements HEICO's existing Indian operations through its Alcon subsidiary in Nashik.
HEICO has acquired approximately 88% of Mid Continent Controls, Inc. (MC2), a leading business jet in-cabin component maker, for an undisclosed cash amount. MC2 specializes in proprietary in-cabin power and entertainment components for business jets, including power outlets, cabin management systems, and multimedia connectivity ports. The acquisition is expected to be accretive to HEICO's earnings within a year.
MC2, based in Derby, KS, employs about 60 people and will continue to operate from its current location. Key managers, including Thomas Hemphill (President) and Mike Freel (General Manager), will retain ownership stakes and continue leading the company. MC2 will report to HEICO's Radiant Power Group. HEICO expects no material employee turnover from the acquisition.
HEICO (NYSE:HEI and NYSE:HEI.A) has announced the acquisition of 92.5% of Marway Power Solutions, Inc., a leading designer and manufacturer of power distribution solutions for mission-critical systems. The cash transaction is expected to be accretive to earnings within a year. Marway, founded in 1980 and based in Santa Ana, CA, specializes in power distribution units, power supplies, and related products for defense, aerospace, and other industries.
Marway's President and CEO, Paul Patel, will continue to lead the company, which will maintain its existing facility and workforce of approximately 50 employees. HEICO's leadership expressed excitement about welcoming Marway's specialized design and quality capabilities into their family of companies.
HEICO (NYSE: HEI.A, HEI) reported record financial results for Q3 FY2024:
- Net income increased 34% to $136.6 million ($0.97 per diluted share)
- Net sales rose 37% to $992.2 million
- Operating income grew 45% to $216.4 million
- Operating margin improved to 21.8%
The Flight Support Group saw 68% net sales growth and 72% operating income growth. The Electronic Technologies Group's operating income increased 2%. HEICO's cash flow from operations rose 47% to $214 million. The company expects continued growth in both segments for the remainder of FY2024, driven by acquisitions and strong product demand.
HEICO (NYSE:HEI.A)(NYSE:HEI) has announced the acquisition of Capewell Aerial Systems' Aerial Delivery and Descent Devices divisions for an undisclosed cash amount. Capewell is a leading provider of proprietary aircraft cockpit emergency egress and aerial delivery products for commercial aerospace and defense uses. The acquisition is expected to be accretive to HEICO's earnings within a year.
Capewell's product portfolio includes emergency descent devices, personnel and cargo parachute products, and heavy airdrop platforms. The company has been a critical supplier to OEMs, end-users, and distributors since 1881, with its hardware being standard equipment on US military parachutes since 1942.
This acquisition adds to HEICO's Specialty Products Group operations, enhancing its capabilities in manufacturing high-reliability, mission-critical components for aerospace and defense customers.
HEICO (NYSE: HEI.A and HEI) has announced its regular quarterly conference call to discuss third-quarter financial results for the period ended July 31, 2024. The earnings release will be available on August 26, 2024, after the NYSE closing, through the company's website. The conference call is scheduled for August 27, 2024, at 9:00 a.m. Eastern Daylight Time.
Participants can dial (888) 204-4368 for US and Canada or (646) 828-8193 for international calls, using Conference ID 3601863. A digital replay will be available for 14 days after the call. HEICO has two classes of common stock traded on the NYSE: Common Stock (HEI) and Class A Common Stock (HEI.A), with the only difference being voting rights.
HEICO operates in niche segments of aviation, defense, space, medical, telecommunications, and electronics industries through its Flight Support Group and Electronic Technologies Group.
HEICO (NYSE:HEI.A) has announced a 10% increase in its semiannual cash dividend, raising it to $0.11 per share from the previous $0.10. This marks the company's 92nd consecutive semiannual cash dividend since 1979. The dividend will be payable on July 15, 2024, to shareholders of record as of July 1, 2024. Laurans A. Mendelson, HEICO's Chairman and CEO, emphasized the company's strong performance and optimistic outlook as reasons for the increase. HEICO, through its Flight Support Group and Electronic Technologies Group, serves niche markets in aviation, defense, space, medical, telecommunications, and electronics.
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