Heico Corporation is a diversified aerospace and electronics company that focuses on providing innovative products and services to the aviation, defense, and electronics markets
The company designs, manufactures, and repairs a wide range of components and systems that enhance the performance, reliability, and safety of aircraft and related technologies. Heico is known for its commitment to research and development, which allows it to deliver advanced solutions that cater to the evolving demands of the aerospace sector. Through strategic acquisitions and a strong emphasis on customer service, Heico continues to expand its footprint within the industry, serving both commercial and military customers.
Hollywood, Fla.-based Heico Corp. is the world’s largest independent producer of replacement aircraft parts. There is no doubt that Heico is a growth stock. Thus, it may be worth closer consideration in 2025.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Textron (NYSETXT) and the best and worst performers in the aerospace industry.
HEICO produced mixed results that included a wider margin and better-than-expected earnings. The shares are down following the report setting up an entry point.
Shares of aerospace and defense company HEICO (NSYE:HEI)
fell 9.8% in the morning session after the company reported weak third-quarter earnings. Its revenue missed, and its adjusted operating income fell short of Wall Street's estimates. Also, the company's debt profile continued to leave little room for error, given the negative net cash position, with management highlighting a total debt-to-net income ratio of 4.34x. In addition, the top-line growth continued to decelerate, with revenue up 8.2% year on year during the quarter, a sharp drop from the double-digit growth recorded in the previous quarters, presenting more reasons for investors to be worried. Overall, this was a weaker quarter.
Aerospace and defense company HEICO (NSYE:HEI) fell short of the market’s revenue expectations in Q3 CY2024, but sales rose 8.2% year on year to $1.01 billion. Its GAAP profit of $0.99 per share was 1.3% above analysts’ consensus estimates.
Aerospace and defense company HEICO (NSYE:HEI) missed Wall Street’s revenue expectations in Q3 CY2024, but sales rose 8.2% year on year to $1.01 billion. Its GAAP profit of $0.99 per share was 1.3% above analysts’ consensus estimates.
Wall Street inched marginally higher during Wednesday morning trading in New York, with traders remaining on edge ahead of the eagerly anticipated Federal Reserve meeting scheduled for 2 p.m.
