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Jan 31, 2024
Heico Q1 2024 Earnings Report
Reported strong growth in net sales, operating income, and net income for the first quarter of fiscal 2024.
Key Takeaways
HEICO Corporation reported a 44% increase in net sales, a 39% increase in operating income, and a 23% increase in net income for the first quarter of fiscal 2024, driven by record operating results at the Flight Support Group and contributions from fiscal 2023 acquisitions.
Net sales increased by 44% to $896.4 million, up from $620.9 million in the first quarter of fiscal 2023.
Net income increased by 23% to $114.7 million, or $0.82 per diluted share, up from $93.0 million, or $0.67 per diluted share, in the first quarter of fiscal 2023.
Operating income increased by 39% to $180.2 million, up from $129.4 million in the first quarter of fiscal 2023.
Cash flow provided by operating activities increased 46% to $111.7 million, up from $76.7 million in the first quarter of fiscal 2023.
Revenue by Segment
Forward Guidance
HEICO anticipates net sales growth in both the Flight Support Group and the Electronic Technologies Group, driven by acquisitions and demand for its products. The company plans to continue developing new products and services and further market penetration, while maintaining its financial strength and flexibility.
Positive Outlook
- Anticipates net sales growth in the Flight Support Group.
- Anticipates net sales growth in the Electronic Technologies Group.
- Driven by contributions from fiscal 2023 acquisitions.
- Driven by demand for the majority of its products.
- Plans to continue commitment to developing new products and services and further market penetration.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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