HEICO Q2 record: rev $687.8M, op inc $157.1M, EPS $0.76; announces $1.9B Wencor acquisition

HEICO CORP

2022-Q2 EPS reported $1.43 revenue$1,308,756,000

Record net sales $687.8M (+28% YoY), operating income $157.1M (+28%), net income $105.1M ($0.76 diluted EPS, +24%).
Flight Support Group net sales record $392.2M (+28%), operating margin improved to 25.5% from 21.6%.
Electronic Technologies Group net sales record $301.8M (+27%), operating margin 22.5% vs 27.8% prior year.
Agreed to acquire Wencor for $1.9B cash + $150M stock; expected close by end of calendar 2023.
Organic growth 10% consolidated; cash from ops $77.8M; debt-to-equity 26.4% due to Exxelia financing.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

HEICO CORP reported the three and six months ended April 30, 2023 results: revenue $687.8 million, net income $105.1 million, EPS $.76 per diluted share.

Period: the three and six months ended April 30, 2023
Revenue: $687.8 million
Net income: $105.1 million
EPS: $.76 per diluted share
Result: reported results

Exact text from the filing

28%, and Record Net Sales, which Increased 28% HOLLYWOOD, FL and MIAMI, FL -- HEICO CORPORATION (NYSE: HEI.A) (NYSE: HEI) today reported net sales increased 28% to a record $687.8 million in the second quarter of fiscal 2023, up from $538.8 million in the second quarter of fiscal 2022. Operating income increased 28% to a record $157.1 million in the second quarter

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Source: SEC EDGAR

accession 0000046619-23-000081

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