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Heico +5.5% after record sales and profits, and boosts guidance

Aug. 27, 2018 5:12 PM ETHEICO Corporation (HEI) StockHEI.ABy: Jason Aycock, SA News Editor6 Comments
  • Aerospace/defense firm Heico (NYSE:HEI) is up 5.5% after hours following Q3 results where it topped high estimates and raised guidance on sales growth.
  • The company hit records in net sales ($465.8M, up 19%), operating income ($101.4M, up 33%) and net income ($67.1M, up 47%).
  • Operating margin improved to 21.8% from a year-ago 19.4%.
  • Cash flow from operations was $204.7M (up 14%) for the first nine months. For the quarter, it rose 34% to $109.7M.
  • Net sales by segment: Flight Support Group, $807.7M (up 13.6%); Electronic Technologies Group, $510.8M (up 26.1%).
  • For the full year, it's guiding to net sales growth of 20-21% (up from a previous forecast of 18-20%) and for the Electronic Technologies Group's operating margin to hit 28.5-29%, up from 28-29%.
  • Conference call to come tomorrow at 9 a.m. ET.
  • Press release

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