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 Corporation announced the acquisition of TRAD SAS by its subsidiary, 3D PLUS, in an all-cash transaction. The deal is anticipated to be accretive to HEICO's earnings within a year. TRAD specializes in radiation engineering, providing services primarily in the space, nuclear, and medical sectors. Founded in 1994, TRAD employs around 75 staff, including many engineers and PhD holders. HEICO is confident that TRAD's advanced capabilities will enhance its offerings in challenges related to radiation effects on electronic components.
HEICO Corporation has announced the acquisition of approximately 80% of Ironwood Electronics for cash at closing, with additional payments contingent on earnings targets. Ironwood specializes in high-performance test sockets and adapters for semiconductor devices, serving various industries. The acquisition is expected to be accretive to HEICO's earnings within a year. Ironwood's CEO and key management will retain their roles and equity in the company, ensuring continuity. HEICO emphasizes its commitment to quality and growth, aligning its goals with Ironwood's expertise.
HEICO Corporation reported a strong performance for Q3 FY2022, with net sales reaching a record $569.5 million, marking a 21% increase from the previous year. Operating income rose 28% to $128.7 million, improving the operating margin to 22.6%. Net income also grew by 7% to $82.5 million, or $0.60 per diluted share. The company noted robust growth in its Flight Support Group, driven by a recovery in commercial aerospace, with eight consecutive quarters of growth. However, the Electronic Technologies Group faced challenges with decreasing defense product sales and supply chain delays.
HEICO Corporation will release its third-quarter financial results on August 29, 2022, after NYSE closing. The results will be accessible on the company's website. A conference call is scheduled for August 30, 2022, at 9:00 a.m. EDT, where the company will discuss these results. To join the call, participants can dial US and Canada at (888) 504-7949 or International at (323) 289-6017 and provide Conference ID 762228. HEICO has two classes of common stock: HEI and HEI.A, differing primarily in voting rights.
D.A. Davidson & Co. has acted as a financial adviser in the sale of Sensor Systems, Inc. to HEICO Electronic Technologies Group, part of HEICO Corporation (NYSE:HEI, HEI.A). Sensor Systems, a leading manufacturer of airborne antennas for commercial and military applications, has a legacy of over 50 years. Its antennas feature in nearly all large commercial transport aircraft built in this timeframe. The transaction aims to ensure the company's ongoing operations and growth under HEICO's stewardship.
HEICO Corporation has acquired Sensor Systems for cash and about 575,000 shares of HEICO Class A common stock. This acquisition is anticipated to positively impact earnings in the subsequent year. Sensor, based in Chatsworth, CA, specializes in airborne antennas for both commercial and military use, with a history spanning over 50 years. HEICO aims to maintain Sensor's operations and employee structure post-acquisition. The deal received regulatory clearance and exemplifies HEICO's commitment to innovation and quality in aviation technology.
HEICO Corporation announced its largest acquisition to date, acquiring Exxelia International for €453 million in cash and assuming €14 million in liabilities. This acquisition aims to enhance HEICO's portfolio in high-reliability electronic components, especially for aerospace and defense sectors. Exxelia, set to generate approximately €190 million in revenue for 2022, will add geographic and product diversity to HEICO. The acquisition is expected to be accretive to earnings within a year, subject to regulatory approvals and necessary consultations.
VPT, Inc., a subsidiary of HEICO, recently launched the VSC Series of DC-DC converters specifically designed for "New Space" applications. This series, providing output power ranging from 5W to 30W, is optimized for smaller satellites in low earth orbits and NASA Class D missions. The converters are radiation tested and comply with stringent performance standards, making them suitable for critical space applications. VPT emphasizes competitive pricing and immediate availability for these products, which adhere to U.S. export regulations.
HEICO Corporation (NYSE:HEI.A and HEI) has acquired 96% of Accurate Metal Machining for cash, along with potential additional payments based on post-closing earnings. Accurate, a manufacturer of high-reliability components for aerospace and defense, is expected to positively impact HEICO's earnings within a year. This acquisition strengthens HEICO's Specialty Products Group and expands its capabilities in crucial markets. Accurate's leadership and workforce will remain unchanged, ensuring continuity in operations and customer relationships.
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