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 reports recurring developments as an aerospace and defense supplier operating through its Flight Support Group and Electronic Technologies Group. News commonly covers quarterly results, conference-call notices, acquisitions, and demand for replacement aircraft parts, MRO services, defense components, RF and microwave antennas, and high-reliability electronic products.
Company updates also describe subsidiary contributions to space and defense programs, including 3D PLUS, Exxelia, and VPT components, and HEICO’s dual NYSE-listed common stock classes, HEI and HEI.A, which differ by voting rights while remaining economically similar.
HEICO Corporation has increased its semi-annual cash dividend to $0.10 per share, an 11% rise from the previous rate. This marks the company's 89th consecutive semi-annual cash dividend since 1979. The dividend is scheduled for payment on January 23, 2023, to shareholders of record on January 5, 2023. In addition, HEICO has set its annual meeting for March 17, 2023, for shareholders of record on January 20, 2023.
HEICO Corporation will release its financial results for the fourth quarter ended October 31, 2022, on December 19, 2022, after the NYSE closing. The results will be accessible via the company's website. A subsequent conference call to discuss these results is scheduled for December 20, 2022, at 9:00 a.m. EST. Shareholders can access the call by dialing the provided numbers, and a digital replay will be available for 14 days post-call. HEICO trades both Common Stock (HEI) and Class A Common Stock (HEI.A) with differing voting rights but identical economic terms.
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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.