HEICO三季度业绩超预期，航空后市场、防务和电子业务需求推动收入与利润创新高

HEICO (HEI) shares rose 1.4% in extended trading Tuesday after the aerospace and electronics manufacturer reported fiscal third-quarter earnings and revenue that beat Wall Street estimates.
Revenue rose 23% from a year earlier to a record $1.41 billion, topping the consensus estimate of $1.35 billion by about 4.7%.
Net income rose to $235.4 million, or $1.67 a share, from $177.3 million, or $1.26 a share, beating analysts’ estimate of $1.50.
For investors, the results showed broad demand across commercial aviation aftermarket parts, defense products and aerospace electronics. Organic sales rose 14% companywide, while acquisitions provided another source of growth. Expanding margins and a 49% jump in operating cash flow strengthened the quarter beyond the headline earnings beat.
HEICO (HEI) stock had gained 8.5% year-to-date as of Tuesday’s close.
Flight Support Group revenue increased 18% to a record $947.8 million, including organic growth of 12%. Demand increased across all product lines, including the company’s aftermarket replacement parts and specialty products used by airlines and aircraft maintenance providers.
Operating income for the segment rose 24% to $245.3 million. Its operating margin widened to 25.9% from 24.7%, helped by a more favorable product mix and greater efficiency as sales increased.
Electronic Technologies Group revenue jumped 36% to a record $483.5 million, with organic sales growth of 18%. The company cited greater demand for electronics, defense and aerospace products, along with contributions from recent acquisitions.
The segment’s operating income surged 55% to $125.6 million. Its operating margin expanded to 26% from 22.8% a year earlier.
Companywide operating income increased 34% to a record $355.2 million. The operating margin improved to 25.1% from 23.1%.
Earnings before interest, taxes, depreciation and amortization rose 31% to $415.2 million.
Cash flow from operations climbed 49% to $345.3 million. Co-chairmen and co-chief executive officers Eric A. Mendelson and Victor H. Mendelson said in the earnings announcement, “We continue to forecast strong cash flow from operations for fiscal 2026.”
The company’s net debt-to-ebitda ratio improved to 1.57 times as of July 31 from 1.60 times at the end of October. During the quarter, the company issued $1.2 billion of senior notes and used the proceeds to repay borrowings under its revolving credit facility.
HEICO (HEI) expects sales growth at both operating groups to continue through the remainder of fiscal 2026, supported by product demand and recent acquisitions. The company also plans to keep pursuing acquisitions while investing in organic growth.