Free Post Earnings Research Report: HEICO Achieved Record Revenues; EPS Surged 31%

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LONDON, UK / ACCESSWIRE / June 26, 2018 / If you want access to our free earnings report on HEICO Corp. (NYSE: HEI), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HEI. The Company reported its second quarter fiscal 2018 operating and financial results on May 29, 2018. The defence and aerospace contractor outperformed top- and bottom-line expectations. Additionally, the Company raised its guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Elbit Systems Ltd (NASDAQ: ESLT), which also belongs to the Industrial Goods sector as the Company HEICO. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, HEICO most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the second quarter of the fiscal year 2018, HEICO’s net sales increased 17% to a record $430.6 million, up from $368.7 million in Q2 FY17. The Company’s revenue numbers beat analysts’ estimates by $5.64 million.

During Q2 FY18, HEICO’s operating income increased 20% to a record $91.6 million, up from $76.5 million in Q2 FY17. The Company’s consolidated operating margin improved to 21.3% in the reported quarter versus 20.8% in the prior year’s comparable quarter.

HEICO’s net income increased to $59.6 million, or $0.55 per diluted share, in Q2 FY18 compared to $45.7 million, or $0.42 per diluted share, in Q2 FY17. The Company’s earnings surpassed Wall Street’s estimates of $0.53 per share.

Segment Results

During Q2 FY18, HEICO’s Flight Support Group (FSG) segment’s net sales increased 16% to a record $267.8 million, up from $231.8 million in Q2 FY17. The increase in net sales was attributable to the impact from the Company’s profitable acquisitions during FY17, as well as an organic growth of 5%, principally from increased demand and new product offerings.

For Q2 FY18, the FSG segment’s operating income increased 15% to a record $51.5 million versus $44.7 million in Q2 FY17, driven by a net sales growth and the impact from an improved gross profit margin. The segment’s operating margin was 19.2% in the reported quarter compared to 19.3% in the prior year’s corresponding quarter.

For FY18, HEICO is forecasting the FSG segment’s net sales growth to be of approximately 10% on a y-o-y basis, and its operating margin to be in the range of 18.5% – 19.0%, up from the prior estimates of 18.0% – 18.5%.

HEICO’s Electronic Technologies Group (ETG) segment’s net sales increased 20% to $168.7 million in Q2 FY18 compared to $141.2 million in Q2 FY17, favorably impacted by the Company’s acquisitions during FY17 and FY18. For Q2 FY18, the ETG segment’s operating income advanced 24% to $48.1 million, up from $38.8 million in Q2 FY17. The segment’s operating margin improved to 28.5%, up from 27.5% in the prior year’s same quarter.

For FY18, HEICO is expecting the ETG segment’s net sales growth to be of approximately 18% – 20% compared to the prior year, up from the prior estimates of 15% – 17%; and its operating margin to be 28.0% – 29.0%, up from the prior estimates of 27.0% – 28.0%.

Financial Position

HEICO’s total debt to shareholders’ equity ratio decreased to 49.9% as of April 30, 2018, down from 54.0% as of October 31, 2017. The Company’s net debt of $635.6 million to shareholders’ equity ratio decreased to 46.4% as of April 30, 2018, down from 49.8% as of October 31, 2017.

HEICO’s cash flow provided by operating activities remained strong, totaling $95.0 million in the first six months of FY18.

Outlook

For the full fiscal year 2018, HEICO raised its forecasts for net sales to be in the range of 13% – 14%, and net income to be in the band of 33% – 35% on a y-o-y basis, up from the Company’s earlier guidance of 12% – 14% for net sales and 30% – 32% for net income.

Additionally, HEICO is expecting consolidated operating margin to be approximately 21% for FY18, up from its prior estimates of 20% – 21%. The Company is anticipating cash flow from operations to approximate $310 million, and capital expenditure to approximate $50 million.

Stock Performance Snapshot

June 25, 2018 – At Monday’s closing bell, HEICO’s stock declined 1.39%, ending the trading session at $90.35.

Volume traded for the day: 333.52 thousand shares, which was above the 3-month average volume of 296.37 thousand shares.

Stock performance in the previous six-month period – up 19.46%; past twelve-month period – up 57.71%; and year-to-date – up 19.70%

After yesterday’s close, HEICO’s market cap was at $8.55 billion.

Price to Earnings (P/E) ratio was at 46.40.

The stock has a dividend yield of 0.13%.

The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry.

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