HEICO Q3 FY2022: Record sales $569.5M (+21%), op income $128.7M (+28%)

HEICO CORP

2022-Q3 EPS reported $1.85 revenue$1,598,684,000

Net income $82.5M ($0.60 EPS) vs $76.9M ($0.56) prior year; 9-month net income record $254.5M ($1.85).
Flight Support Group net sales $330.3M (+39%), operating income $70.8M (+68%); 24% organic growth in commercial aerospace.
Electronic Technologies Group net sales $244.2M (+2%), operating income $68.0M (down 1.4% YoY) on defense demand decrease.
Completed five FY2022 acquisitions; agreed to purchase ~95% of Exxelia International for €453M, closing expected Q1 FY2023.
Balance sheet strong: total debt/equity 9.9%, net debt/EBITDA 0.20x; no guidance provided due to pandemic uncertainty.

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