HEICO Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended October 31, 2023
December 19, 2023 at 03:47 am IST
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HEICO Corporation reported earnings results for the fourth quarter and full year ended October 31, 2023. For the fourth quarter, the company reported sales was USD 936.45 million compared to USD 609.64 million a year ago. Net income was USD 103.43 million compared to USD 97.2 million a year ago. Basic earnings per share from continuing operations was USD 0.75 compared to USD 0.71 a year ago. Diluted earnings per share from continuing operations was USD 0.74 compared to USD 0.7 a year ago.
For the full year, sales was USD 2,968.11 million compared to USD 2,208.32 million a year ago. Net income was USD 403.6 million compared to USD 351.68 million a year ago. Basic earnings per share from continuing operations was USD 2.94 compared to USD 2.59 a year ago. Diluted earnings per share from continuing operations was USD 2.91 compared to USD 2.55 a year ago.
HEICO Corporation is a manufacturer of jet engine and aircraft component replacement parts. The Companyâs segments include Flight Support Group (FSG) and Electronic Technologies Group (ETG). FSG segment consists of HEICO Aerospace Holdings Corp. and HEICO Flight Support Corp. and their subsidiaries. FSG uses technology to design and manufacture jet engine and aircraft component replacement parts. FSG repairs, overhauls and distributes jet engine and aircraft components, avionics and instruments for domestic and foreign commercial air carriers and aircraft repair companies, as well as military and business aircraft operators. ETG segment consists of HEICO Electronic Technologies Corp. and its subsidiaries. ETG designs, manufactures and sells various types of electronic, data and microwave, and electro-optical products, including infrared simulation and test equipment, laser rangefinder receivers, electrical power supplies, back-up power supplies and others.