Home / Business and Economy / Heico Stock Soars on Record Quarter
Heico Stock Soars on Record Quarter
20 Dec
Summary
- Heico reported record net sales of $1.21 billion in fiscal Q4.
- Net income reached a new high of $188 million, or $1.33 per share.
- Both flight support and electronic technologies segments saw significant growth.
Electrical components manufacturer Heico experienced a significant stock price increase, climbing nearly 6% following the release of its record-breaking fiscal fourth-quarter results. The company announced that its net sales reached an all-time high of $1.21 billion, marking a robust 19% year-over-year increase. This performance comfortably surpassed analyst expectations.
Further bolstering the positive financial report, Heico's generally accepted accounting principles (GAAP) net income also set a new company record, growing by 35% to $188 million, which translated to $1.33 per share. Both of Heico's operating segments contributed to this success, with the larger flight support group seeing net sales rise nearly 21% and the electronic technologies group posting a 14% improvement.
Heico attributed these impressive gains to a combination of strong organic growth and the successful integration of recent acquisitions, highlighting its ability to expand its product offerings and market reach. The company's strategic focus on high-growth sectors, particularly aerospace, positions it favorably for continued success, despite its stock not being considered inexpensive.
