HEICO reports record Q4 and FY2022 net sales and operating income; raises dividend 11%

HEICO CORP

2022-FY EPS reported $2.55 revenue$2,208,322,000

Q4 net sales $609.6M (+20% YoY); operating income $146.5M (+27%); diluted EPS $0.70 vs $0.62.
Full year net sales $2,208.3M (+18%); operating income $496.8M (+26%); diluted EPS $2.55 vs $2.21.
Flight Support Group Q4 net sales +33% to $346.0M, operating income +60% to $77.8M; nine straight quarters of growth.
Board declared semi-annual dividend of $0.10/share (+11%), payable Jan 23, 2023 to holders of record Jan 5, 2023.
Agreement to acquire ~95% of Exxelia International, expected to close in Q1 FY2023; company's largest-ever acquisition.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HEICO CORP reported the fourth quarter of fiscal 2022 results: revenue $609.6 million, net income $97.2 million, EPS $.70 per diluted share.

Period: the fourth quarter of fiscal 2022
Revenue: $609.6 million
Net income: $97.2 million
EPS: $.70 per diluted share
Result: reported results

Exact text from the filing

HEICO CORPORATION (NYSE: HEI.A) (NYSE: HEI) today reported net sales increased 20% to a record $609.6 million in the fourth quarter of fiscal 2022, up from $509.4 million in the fourth quarter of fiscal 2021. Operating income increased 27% to a record $146.5 million in the fourth quarter of fiscal 2022, up from $115.0 million in the fourth quarter of fiscal 2021. The Company's consolidated operating margin improved to 24.0% in the fourth quarter of fiscal 2022, up from 22.6% in the fourth quarter of fiscal 2021. Net sales increased 18% to a record $2,208.3 million in the fiscal year ended October 31, 2022, up from $1,865.7 million in the fiscal year ended October 31, 2021. Operating income increased 26% to a record $496.8 million in the fiscal year ended October 31, 2022, up from $392.9 million in the fiscal year ended October 31, 2021. The Company's consolidated operating margin was 22.5% in the fiscal year ended October 31, 2022, as compared to 21.1% in the fiscal year ended October

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HEICO CORP reported the fiscal year ended October 31, 2022 results: revenue $2,208.3 million, net income $351.7 million, EPS $2.55 per diluted share.

Period: the fiscal year ended October 31, 2022
Revenue: $2,208.3 million
Net income: $351.7 million
EPS: $2.55 per diluted share
Result: reported results

Exact text from the filing

Net sales increased 18% to a record $2,208.3 million in the fiscal year ended October 31, 2022, up from $1,865.7 million in the fiscal year ended October 31, 2021. Operating income increased 26% to a record $496.8 million in the fiscal year ended October 31, 2022, up from $392.9 million in the fiscal year ended October 31, 2021. The Company's consolidated operating margin was 22.5% in the fiscal year ended October 31, 2022, as compared to 21.1% in the fiscal year ended October 31, 2021. Improvement in the commercial aerospace market has resulted in nine consecutive quarters of sequential growth in net sales and operating income at the Flight Support Group. Net income increased 13% to $97.2 million, or $.70 per diluted share, in the fourth quarter of fiscal 2022, up from $86.1 million, or $.62 per diluted share, in the fourth quarter of fiscal 2021. Net income increased 16% to a record $351.7 million, or $2.55 per diluted share, in the fiscal year ended October 31, 2022, up from $304.2

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Source: SEC EDGAR

accession 0000046619-22-000064

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