HEICO Corporation's (HEI) CEO Laurans Mendelson on Q2 2022 Results - Earnings Call Transcript

HEICO Corporation (NYSE:HEI) Q2 2022 Earnings Conference Call May 24, 2022 9:00 AM ET

Company Participants

Laurans Mendelson – Chairman and Chief Executive Officer
Eric Mendelson – Co-President and President of HEICO's Flight Support Group
Victor Mendelson – Co-President and President of HEICO's Electronic Technologies Group
Carlos Macau – Executive Vice President and Chief Financial Officer

Conference Call Participants

Gautam Khanna – Cowen
Larry Solow – CJS Securities
Peter Arment – Baird
Jason Holcomb – Morgan Stanley
Ken Herbert – RBC
Josh Sullivan – Benchmark
Greg Konrad – Jefferies
Peter Skibitski – Olympic Global
Pete Esterline – Truist Securities
Louis Raffetto – UBS

Operator

Welcome to the HEICO Corporation Second Quarter and Full Year Fiscal 2022 Financial Results Call. My name is Patricia, and I will be the conference operator for today's call. Certain statements in today's call will constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed or implied by those forward-looking statements as a result of factors, including the severity, magnitude and duration of the pandemic, HEICO's liquidity and the amount and timing of cash generation; lower commercial air travel caused by the pandemic and its aftermath; airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our cost to complete contracts; governmental and regulatory demands, export policies and restrictions; reductions in defense fees or homeland security spending by U.S. and our foreign customers or competition from existing and new competitors, which could reduce our sales our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and the lease sales; our ability to make acquisitions and achieve operating synergies from acquired businesses; customer credit risk, interest, foreign currency exchange and income