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 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.
HEICO Corporation announced a semi-annual cash dividend of $.09 per share, approved by its Board of Directors. This dividend will be distributed on July 15, 2022, to shareholders of record as of July 1, 2022. With this declaration, HEICO marks its 88th consecutive semi-annual cash dividend since 1979. The company has shown strong performance and excellent cash flow as they enter the second half of fiscal 2022. Notably, HEICO's stock value has increased approximately 530 times since 1990, reflecting significant growth.
HEICO Corporation reported a robust 20% increase in net income to $85 million for Q2 2022, translating to $0.62 per diluted share, driven by a 15% rise in net sales to $538.8 million. Operating income surged 27% to a record $122.8 million, with the consolidated operating margin improving to 22.8%. The Flight Support Group experienced outstanding growth, with net sales up 33%, while the Electronic Technologies Group reported a decline in defense product sales. Despite strong performance, HEICO did not provide fiscal 2022 guidance, citing uncertainty around COVID-19 impacts.
HEICO Corporation will release its financial results for the second quarter ended April 30, 2022, on May 23, 2022, after the NYSE closes. The earnings report will be accessible on the company's website. A teleconference will be held on May 24, 2022, at 9:00 a.m. EDT to discuss these results, with details provided for participants. HEICO, traded under symbols HEI.A and HEI, focuses on aviation, defense, and other industries, serving prominent customers globally.
VPT, a HEICO company, announced the launch of its 120 volt SGRB12028S DC-DC Converter, utilizing EPC Space GaN technology for efficiency up to 95%. This radiation-hardened converter is designed for high-power space applications and operates across harsh environments, with a total ionizing dose of 100 krad(Si). The SGRB Series includes features like an integrated EMI filter and a wide operational temperature range of -35°C to 85°C. It aims to maintain VPT's status as a leader in space-rated DC-DC converters.
HEICO Corporation (NYSE:HEI.A, HEI) announced the successful acquisition of Pioneer Industries, a leading specialty distributor of military aviation spares. The acquisition, finalized on March 18, 2022, follows a regulatory approval received on February 10, 2022. HEICO anticipates this acquisition will positively impact its earnings within a year. Pioneer Industries, located in Farmingdale, NY, serves notable clients including the US Department of Defense, enhancing HEICO's position in the defense sector.
HEICO Corporation announced that its subsidiary, Lucix, has acquired Flight Microwave Corporation in a 100% stock purchase. The acquisition is fully in cash, but specific financial details were not disclosed. HEICO anticipates that this acquisition will be accretive to earnings within the year following completion. Flight Microwave is renowned for its custom high power filters used in space and defense, including GPS systems. The firm will integrate into Lucix and retain most of its existing staff, enhancing HEICO's capabilities in the electronic technologies sector.
Airbus Ventures has invested in CesiumAstro Inc., which raised $60 million in a Series B funding round, co-led by Airbus Ventures and Forever Ventures, with participation from L3Harris Technologies (NYSE: LHX) and returning investors including HEICO (NYSE: HEI). CesiumAstro, founded in 2017, has secured nearly $90 million to date, aiming to enhance its research, development, and manufacturing capabilities. The company, based in Austin, Texas, focuses on advanced aerospace communication systems for commercial and defense applications.
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