Heico Q3 2022 Earnings Report
Key Takeaways
HEICO Corporation reported a 21% increase in net sales, reaching a record $569.5 million for the third quarter of fiscal 2022. Operating income also saw a significant rise of 28%, hitting a record $128.7 million. The Flight Support Group was a major driver of this growth, with its net sales increasing by 39% and operating income increasing by 68%.
Net sales increased 21% to a record $569.5 million.
Operating income increased 28% to a record $128.7 million.
Flight Support Group net sales increased 39% to a record $330.3 million.
EBITDA increased 23% to $152.7 million.
Heico
Heico
Heico Revenue by Segment
Forward Guidance
HEICO anticipates continued growth in global commercial air travel despite potential COVID-19 variants, but refrains from providing specific fiscal 2022 net sales and earnings guidance due to pandemic-related uncertainties, supply chain disruptions, and inflation.
Positive Outlook
- Ongoing worldwide Pandemic vaccines and boosters rollout will continue to positively influence global commercial air travel and benefit the markets we serve.
- Ongoing conservative policies.
- Strong balance sheet.
- High degree of liquidity enable us to continuously invest in new research and development.
- Execute on our successful acquisition program, which collectively position HEICO for market share gains.
Challenges Ahead
- Potential for additional COVID-19 global pandemic variants.
- Very difficult to predict the Pandemic's path and effect, including factors like new variants and vaccination rates.
- Potential supply chain disruptions.
- Inflation.
- Difficult to predict the Pandemic's impact on key markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income