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 (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.
HEICO Corporation (HEI, HEI.A) reported net income of $70.6 million, or $0.51 per diluted share, for Q1 FY2021, down from $121.9 million, or $0.89 per diluted share, in Q1 FY2020. Net sales fell to $417.9 million, a 17.4% decrease year-over-year, primarily due to COVID-19's impact on commercial aerospace demand, which dropped approximately 43%. Operating income decreased to $80.3 million with a margin of 19.2%. Despite these challenges, cash flow from operations improved by 32% to $107.2 million. HEICO remains cautious about fiscal 2021 guidance due to ongoing pandemic effects.
HEICO Corporation (NYSE: HEI, HEI.A) congratulated NASA and JPL for the successful landing of the Mars Perseverance Rover on February 18, 2021. HEICO's subsidiaries supplied mission-critical flight hardware for the rover, including Apex Microtechnology’s power amplifiers and Sierra Microwave's communication hardware. 3D PLUS provided highly reliable components like memory modules, while VPT supplied DC-DC converters for the camera system. Perseverance will explore Jezero Crater for signs of ancient life and collect samples for potential return to Earth.
HEICO Corporation (NYSE: HEI.A, HEI) will release its first-quarter financial results for the period ending January 31, 2021, on February 23, 2021, after the NYSE closing. The earnings will be accessible on HEICO’s website. A conference call to discuss the results is scheduled for February 24, 2021, at 9:00 a.m. EST, with participation details provided. HEICO has two classes of common stock, HEI.A and HEI, distinguished by voting rights. The company specializes in products and services for aviation, defense, and electronics industries.
HEICO Corporation (NYSE: HEI, HEI.A) reported a fiscal year 2020 net income of $314.0 million ($2.29 per diluted share), down from $327.9 million ($2.39 per diluted share) in 2019. The COVID-19 pandemic severely impacted results, leading to a 32% decline in net sales for commercial aerospace. In Q4 2020, net income dropped to $62.3 million ($0.45 per diluted share), compared to $85.7 million in Q4 2019. Despite this, HEICO achieved record sales in its Electronic Technologies Group and maintained strong cash flow, resulting in a semi-annual dividend of $0.08 per share, marking its 85th consecutive dividend.
HEICO Corporation (NYSE:HEI.A and HEI) has declared a cash dividend of $0.08 per share, payable on January 21, 2021, to shareholders of record as of January 7, 2021. This marks the company's 85th consecutive semi-annual cash dividend since 1979. Additionally, the Annual Shareholders' Meeting is scheduled for March 19, 2021, with a record date of January 22, 2021. The company’s stock has seen significant growth, with shares appreciating approximately 572 times since 1990, reflecting a 23% compound annual growth rate.
HEICO Corporation (NYSE:HEI, HEI.A) announced an amendment and extension of its credit facility to $1.5 billion, increasing to $1.85 billion under certain conditions. The maturity date has been extended by one year to November 2023. The facility, primarily for acquisitions, demonstrates HEICO's strong financial standing, having completed six acquisitions in the past year despite the COVID-19 pandemic. CEO Laurans Mendelson emphasized the company's solid performance and commitment to strategic goals.
HEICO Corporation (NYSE: HEI.A, HEI) is set to release its fourth-quarter financial results for the period ending October 31, 2020, after the NYSE closing on December 21, 2020. A conference call to discuss these results is scheduled for December 22, 2020, at 9:00 a.m. EST. Interested participants can dial US and Canada (877) 586-4323 or International (706) 679-0934, using Conference ID 8879980. The company offers two classes of common stock, Class A (HEI.A) and Common Stock (HEI), differing primarily in voting rights. For more details, visit www.heico.com.
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