Record Third Quarter Results
Consolidated net income increased 30% to $177.3 million or $1.26 per diluted share, with operating income and net sales increasing 22% and 16% respectively compared to the previous year.
Flight Support Group Performance
Set all-time quarterly operating income and net sales records, improving 29% and 18% respectively, driven by 13% organic growth and successful acquisitions.
Electronic Technologies Group Growth
Net sales increased 10% with strong demand in electronics and space products, reflecting 7% organic growth.
Strong Cash Flow and Liquidity
Cash flow from operations increased 8% to $231.2 million, representing 130% of net income. The net debt-to-EBITDA ratio improved to 1.9x.
Successful Acquisition Strategy
Completed the acquisition of Gables Engineering, marking the third largest acquisition in HEICO's history, expected to be accretive to earnings within a year.