- 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