Welcome to our dedicated page for Heico news (Ticker: HEI), a resource for investors and traders seeking the latest updates and insights on Heico stock.
Heico Corporation (HEI) provides specialized aerospace components and defense electronics through its Flight Support and Electronic Technologies Groups. This news hub offers investors and industry professionals centralized access to official announcements, financial disclosures, and operational developments.
Track HEI's latest press releases including quarterly earnings, product innovations, and strategic acquisitions. The repository covers FAA-certified aircraft parts updates, defense contract awards, and advancements in space-rated electronic systems. All content is sourced directly from company filings and verified channels.
Key areas include flight safety component certifications, avionics technology breakthroughs, and market expansion through subsidiary acquisitions. Users benefit from chronological organization and cross-referenced updates across HEI's dual business segments.
Bookmark this page for streamlined monitoring of HEI's corporate trajectory. Combine historical context with real-time updates to inform your analysis of this NYSE-listed aerospace specialist.
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.
HEICO (NYSE:HEI.A)(NYSE:HEI) announced record financial results for the second quarter of fiscal 2024. The company reported a 17% increase in net income to $123.1 million, or $.88 per diluted share. Net sales grew 39% to $955.4 million, and operating income increased 33% to $209.2 million. For the first six months of fiscal 2024, net income rose 20% to $237.8 million, while net sales and operating income increased by 41% and 36%, respectively. The Flight Support Group saw a 65% increase in net sales, while the Electronic Technologies Group experienced a 6% rise. EBITDA for the second quarter increased 35% to $252.4 million. The company highlighted its strong cash flow and reduced debt ratios, with a focus on continued product development and market penetration.
HEICO (NYSE:HEI, HEI.A) will release its Q2 financial results on May 28, 2024, post-market close. The results will be accessible on HEICO's website. A conference call to discuss these results is scheduled for May 29, 2024, at 9:00 a.m. EDT. Participants can join via provided U.S., Canadian, and international dial-in numbers, and a replay will be available for 14 days post-call. HEICO, with two NYSE-listed stock classes, serves various niche sectors including aviation, defense, space, medical, telecommunications, and electronics through its Flight Support Group and Electronic Technologies Group. Major clients include airlines, defense contractors, and medical equipment manufacturers.
VPT, Inc., a HEICO company, introduces the SLNP17-100CQ, a quad-output DC-DC power supply designed for noise-sensitive RF space applications. With extremely low noise outputs and high configurability, this product is ideal for demanding commercial, scientific, and military space applications.
