Overview

* HEICO ( HEI ) fiscal Q3 revenue rises 16% to $1.1476 bln, beating analyst expectations

* Net income for fiscal Q3 increases 30% to $177.3 mln

* Operating income for fiscal Q3 up 22% to $265 mln with improved margin

Outlook

* HEICO ( HEI ) expects continued net sales growth in Flight Support and Electronic Technologies

* Company aims to accelerate growth through acquisitions and organic initiatives

* Company sees continued demand driving growth across product lines

Result Drivers

* FLIGHT SUPPORT GROWTH - Flight Support Group's net sales rose 18% in Q3, driven by 13% organic growth and acquisitions, per company

* ELECTRONIC TECHNOLOGIES DEMAND - Electronic Technologies Group saw 10% net sales growth in Q3, with strong demand for electronics, defense, and space products

* OPERATING MARGIN IMPROVEMENT - Improved gross profit margin and SG&A efficiencies boosted operating margin to 23.1% in Q3, up from 21.8% in prior year

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Sales Beat $1.15 $1.12

bln bln (15

Analysts

)

Q3 EPS $1.26

Q3 Net $177.30

Income mln

Q3 $316.40

EBITDA mln

Q3 $265 mln

Operatin

g Income

Q3 23.1%

Operatin

g Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the aerospace & defense peer group is "buy"

* Wall Street's median 12-month price target for HEICO Corp ( HEI ) is $333.50, about 8.4% above its August 25 closing price of $305.34

* The stock recently traded at 61 times the next 12-month earnings vs. a P/E of 54 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)