This post was originally published on this site
Heico reported earnings per share of $0.74, beating the analyst estimate of $0.73 by $0.01. Additionally, the revenue for the quarter was $722.9 million, exceeding the consensus estimate of $701.35M.
However, the company’s EBITDA for the quarter was $179.8M, slightly below the estimated value of $181.2M.
Similarly, the operating margin was reported at 20.7%, a decrease from the 22.6% recorded year-over-year and below the expected operating margin of 22.1%.
“We are very pleased to report record quarterly consolidated net sales at both the Flight Support Group and the Electronic Technologies Group. These results reflect 12% consolidated organic growth in our net sales principally arising from a continued strong demand for our commercial aerospace products and services and the contributions from our fiscal 2023 and 2022 acquisitions,” Laurans Mendelson, HEICO’s Chairman and CEO, said.
BofA analysts commented:
“We maintain our Neutral rating and believe the weaker than expected margins could be negatively received by the market due to a higher set level of expectations.”
