HEICO Q1 FY2024 net sales +44%, net income +23% to $114.7M; Flight Support Group record sales up 67%

HEICO CORP

2024-Q1 EPS reported $0.82 revenue$896,363,000

Diluted EPS $0.82 vs $0.67; net income $114.7M vs $93.0M; operating income +39% to $180.2M.
Flight Support Group net sales record $618.7M (+67%); operating income record $136.1M (+63%); organic growth 12%.
Electronic Technologies Group net sales +12% to $285.9M; operating income $55.3M vs $56.5M; margin 19.3% vs 22.2%.
Cash flow from operations +46% to $111.7M; EBITDA +43% to $224.4M; net debt/EBITDA improved to 2.79x.
Guidance: Net sales growth anticipated in both segments driven by FY2023 acquisitions and continued demand.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HEICO CORP reported the first quarter of fiscal 2024 results: revenue $896.4 million, net income $114.7 million, EPS $.82 per diluted share.

Period: the first quarter of fiscal 2024
Revenue: $896.4 million
Net income: $114.7 million
EPS: $.82 per diluted share
Result: reported results

Exact text from the filing

Net sales increased 44% to $896.4 million in the first quarter of fiscal 2024, up from $620.9 million in the first quarter of fiscal 2023. Operating income increased 39% to $180.2 million in the first quarter of fiscal 2024, up from $129.4 million in the first quarter of fiscal 2023. The Company's consolidated operating margin was 20.1% in the first quarter of fiscal 2024, as compared to 20.8% in the first quarter of fiscal 2023.

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Source: SEC EDGAR

accession 0000046619-24-000012

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