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Jul 31, 2023
Heico Q3 2023 Earnings Report
Reported record net sales and a 24% increase in net income for the third quarter of fiscal 2023.
Key Takeaways
HEICO Corporation reported a 27% increase in net sales, reaching a record $722.9 million for the third quarter of fiscal 2023. Net income attributable to HEICO increased by 24% to $102.0 million, or $0.74 per diluted share. The company's operating income also saw a 16% increase, reaching $149.4 million.
Net sales increased by 27% to a record $722.9 million.
Operating income increased by 16% to $149.4 million.
Net income attributable to HEICO increased by 24% to $102.0 million, or $0.74 per diluted share.
EBITDA increased by 18% to $179.8 million.
Heico
Heico
Heico Revenue by Segment
Revenue by Segment
Flight Support Group Revenue
CapyFin.comElectronic Tech Group Revenue
CapyFin.com Forward Guidance
HEICO anticipates net sales growth in both the FSG and ETG, driven by demand for the majority of their products. Continued inflationary pressures and lingering supply chain disruptions stemming from the COVID-19 pandemic may lead to higher material and labor costs.
Positive Outlook
- Anticipate net sales growth in both the FSG and ETG
- Driven by demand for the majority of their products
- Sharing of best practices with Wencor
- Getting to know the Wencor businesses which share a similar entrepreneurial culture and customer focus as HEICO's businesses.
- Remain committed to developing new products and services and further market penetration, while maintaining our financial strength and flexibility.
Challenges Ahead
- Continued inflationary pressures
- Lingering supply chain disruptions stemming from the COVID-19 pandemic
- May lead to higher material and labor costs
- Product specification costs and requirements, which could cause an increase to our costs to complete contracts
- Economic conditions, including the effects of inflation, within and outside of the aviation, defense, space, medical, telecommunications, and electronics industries, which could negatively impact our costs and revenues
Revenue & Expenses
Visualization of income flow from segment revenue to net income