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.
VPT, part of HEICO, has launched the SVRPL Series of space-qualified DC-DC converters, tailored for harsh radiation environments. These converters, operating within an input voltage range of 3.1 to 5.5 V and a 6A output, are designed for high-performance space processors. The SVRPL3R306SG model is based on the radiation-hardened ISL70001ASEH regulator and meets MIL-PRF-38534 Class K requirements. They function efficiently across military temperature ranges and are subjected to stringent qualification standards essential for modern digital electronics in space.
HEICO Corporation reported a significant 42% increase in net income to $76.9 million in Q3 2021, with a 47% rise in operating income and a 22% increase in net sales to $471.7 million. Year-to-date net income reached $218.2 million, although it shows a decline compared to the previous year's $251.7 million. The company’s debt-to-equity ratio improved to 17.4% from 36.8%. Cash flow from operations rose 33% to $124 million in Q3. The company remains cautious about future guidance due to uncertainties related to the COVID-19 pandemic.
HEICO Corporation (NYSE:HEI, HEI.A) will report its third quarter financial results for the period ending July 31, 2021, after NYSE close on August 24, 2021. A conference call is scheduled for August 25, 2021, at 9:00 a.m. EDT, where the company will discuss the results. Participants can join by dialing (833) 377-4220 for US and Canada, and (206) 596-9903 for international calls, using Conference ID 9060175. HEICO has two classes of common stock: HEI and HEI.A, differing mainly in voting rights. For more details, visit heico.com.
HEICO Corporation (NYSE:HEI) has successfully acquired Ridge Engineering, Inc. and The Bechdon Company, Inc. as part of its Flight Support Group. The acquisition, announced on July 6, 2021, was finalized following regulatory approval. HEICO anticipates that these acquisitions will be accretive to earnings within the first year. Ridge specializes in tight-tolerance machining and brazing for defense and aerospace applications, while Bechdon provides precision machining and fabrication services. Both companies will retain their current operations and management teams.
HEICO Corporation announced the acquisition of 89% of Ridge Engineering, Inc. and The Bechdon Company, Inc. for cash, with potential additional consideration based on post-closing earnings. The acquisitions are expected to be accretive to earnings within the first year. Ridge, specializing in tight-tolerance machining for defense and aerospace, and Bechdon, a key subcontractor, operate from substantial facilities and employ 196 people. The deal awaits antitrust clearance and other conditions, strengthening HEICO's position in specialized aerospace manufacturing.
HEICO Corporation announced the acquisition of 80.1% of Camtronics LLC's operating assets for cash, enhancing its market position in the aircraft repair sector. The deal is expected to be accretive to earnings within the first year. Camtronics, an FAA-certified repair station, specializes in proprietary repairs and has been operational since 1999. With 36 employees in Tulsa, Oklahoma, it will continue its operations without expected staff turnover. This acquisition marks HEICO's sixth in the niche market since the COVID-19 pandemic began.
HEICO Corporation (NYSE:HEI, HEI.A) has announced a 12.5% increase in its semi-annual cash dividend, raising it to $.09 per share from $.08 per share. This will be payable on July 15, 2021, for shareholders of record as of July 1, 2021. This marks HEICO's 86th consecutive semi-annual cash dividend since 1979. The company's strong cash flow and confidence in future air travel recovery were highlighted by CEO Laurans A. Mendelson, indicating benefits for shareholders and team members owning shares.
HEICO Corporation (NYSE: HEI, HEI.A) reported a decline in net income for the first six months of fiscal 2021, totaling $141.3 million, or $1.03 per diluted share, down from $197.3 million, or $1.44 per diluted share in the prior year. The second quarter net income was $70.7 million, compared to $75.5 million in Q2 2020. Despite these declines, the company noted record net sales in its Electronic Technologies Group and a sequential increase in the Flight Support Group. Overall, the pandemic continued to affect demand, but debt ratios improved, offering potential for future acquisition opportunities.
On May 25, 2021, HEICO Corporation will release its second quarter financial results for the period ending April 30, 2021, after NYSE market close. A conference call to discuss these results is scheduled for May 26, 2021, at 9:00 a.m. EDT. Interested participants can join by calling the designated numbers. HEICO's Class A Common Stock (HEI.A) and Common Stock (HEI) are traded on the NYSE, with the primary distinction being voting rights. The company operates primarily in aviation, defense, space, and electronics sectors. For more details, visit heico.com.
HEICO Corporation (NYSE:HEI, HEI.A) announced the acquisition of Pyramid Semiconductor LLC, a designer and manufacturer of specialized semiconductor products. The deal, finalized with cash at closing, is expected to enhance HEICO's earnings within a year. Founded in 2003, Pyramid serves military, space, and medical sectors with its high-reliability processors and memory products. HEICO plans to retain all Pyramid staff, continuing operations at the Sunnyvale facility under its 3D PLUS USA subsidiary, which focuses on high-density microelectronic products.
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