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.
CesiumAstro Inc. has successfully raised $60 million in a Series B funding round, co-led by Airbus Ventures and Forever Ventures, with strategic participation from L3Harris Technologies (NYSE: LHX) and returning investors like HEICO (NYSE: HEI). This brings their total funding since 2017 to nearly $90 million. The capital will enhance their research, development, and manufacturing capabilities, enabling expansion both domestically and abroad. Cesium’s cutting-edge communication systems cater to both commercial and defense sectors, aiming to transform aerial and space communications.
HEICO Corporation reported a 23% increase in net income for Q1 fiscal 2022, totaling $86.9 million, or $0.63 per diluted share. This improvement aligns with a 17% rise in net sales to $490.3 million, driven by a recovering commercial aerospace market. The operating margin improved to 20.2%, up from 19.2% year-over-year. Despite challenges from the pandemic, the Flight Support Group experienced significant growth, with net sales up 37%. The company continues to prioritize strategic acquisitions and maintain a strong balance sheet, with debt ratios improving.
HEICO Corporation has announced its Flight Support Group will acquire 74% of Pioneer Industries for cash, with potential additional payments based on post-closing performance. The acquisition, expected to enhance earnings within a year, integrates Pioneer, a key military aviation parts distributor, into HEICO's operations. The Yormack brothers will retain 26% ownership and continue their roles. The deal awaits regulatory approval. This strategic move aims to expand HEICO's defense sector capabilities, facilitating support for military and defense aftermarket needs.
HEICO Corporation will release its financial results for the first quarter ending January 31, 2022, on February 23, 2022, after the NYSE closes. The earnings release can be accessed via their website. A conference call to discuss these results is scheduled for February 24, 2022, at 9:00 a.m. EST. Participants can join by calling US and Canada (833) 377-4220 or International (206) 596-9903, using Conference ID 7373476. HEICO has two classes of stock: HEI and HEI.A, which differ only in voting rights.
HEICO Corporation announced that its subsidiary, Sierra Microwave Technology, designed and manufactured critical components for the James Webb Space Telescope (JWST). These components are integral to the telescope's high power K-band transmitter system, which transmits data back to Earth. Launched on December 24, 2021, the JWST is NASA's largest and most powerful space telescope. Sierra Microwave specializes in microwave components for space and defense, offering low loss performance and exceptional quality.
HEICO Corporation announced its Annual Shareholders' Meeting will take place on March 18, 2022. Shareholders on record as of January 21, 2022, will have voting rights during the meeting. The company has two classes of stock: Class A Common Stock (HEI.A) and Common Stock (HEI), with approximately 81.4 million and 54.4 million shares outstanding respectively. The Class A shares possess 1/10 voting rights, while Common Stock carries a full vote. HEICO engages in various sectors, including aviation, defense, and medical.
HEICO Corporation has declared a semi-annual cash dividend of $.09 per share, payable on January 20, 2022 to shareholders of record as of January 6, 2022. This marks the company's 87th consecutive semi-annual cash dividend since 1979. HEICO reported strong cash flow, encouraging the Board's decision for the dividend. Notably, one share valued at $8.38 in 1990 has appreciated to approximately $4,877 by December 2021, reflecting a 582-fold increase and a compound annual growth rate of 23%.
HEICO Corporation reported a significant increase in net income for the fourth quarter of fiscal 2021, rising to $86.1 million, or $0.62 per diluted share, a 38% increase from the previous year. Net sales surged 20% to $509.4 million, supported by a 29% rise in operating income to $115.0 million. For the fiscal year, net sales reached $1,865.7 million, a 4% increase, while operating income also grew by 4% to $392.9 million. The company is cautiously optimistic about recovery in air travel but refrained from providing guidance for fiscal 2022 due to uncertainties related to the pandemic.
HEICO Corporation (NYSE:HEI) will release its fourth quarter financial results for the period ending October 31, 2021, on December 15, 2021, after NYSE closing. A conference call to discuss the results is scheduled for December 16, 2021, at 9:00 a.m. EST, with participation details provided. HEICO has two classes of stock: Common Stock (HEI) and Class A Common Stock (HEI.A), differing in voting rights. The company specializes in the design, production, and distribution of products for the aviation, defense, and electronics sectors.
VPT, Inc., a subsidiary of HEICO, announced the launch of its SVL series of 50V input space-grade DC-DC converters, including SVLFL, SVLTR, and SVLSA models. These converters are designed to operate in harsh radiation environments, exhibiting Total Ionizing Dose (TID) performance up to 60 krads. They support a wide input voltage range of 30 to 60V and are suitable for various orbital applications. The series is pending qualification to MIL-PRF-38534 Class H and K, and their availability is subject to U.S. export regulations.
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