Heico reports Q3 EPS 97c, consensus 92c

Reports Q3 revenue $992.2M, consensus $994.78M. Laurans Mendelson, Heico’s Chairman and CEO, commented on the Company’s third quarter results stating, “We are very pleased to report strong record quarterly consolidated net sales driven by record quarterly operating results at the Flight Support Group, as well as strong contributions from our fiscal 2023 and 2024 acquisitions. These results reflect outstanding 15% organic net sales growth in the Flight Support Group principally arising from increased demand across all of its product lines and increased demand for the Electronic Technology Group’s defense, space and aerospace products. Our total debt to net income attributable to HEICO ratio was 4.73x as of July 31, 2024, down from 6.14x as of October 31, 2023. Our net debt to EBITDA ratio was 2.11x as of July 31, 2024, down from 3.04x as of October 31, 2023.”