Heico Earns 51 Cents per Share

HEICO (HEI) today reported net income of $141.3 million, or $1.03 per diluted share, in the first six months of fiscal 2021, as compared to $197.3 million, or $1.44 per diluted share, in the first six months of fiscal 2020. Net income in the second quarter of fiscal 2021 was $70.7 million, or 51 cents per diluted share, as compared to $75.5 million, or 55 cents per diluted share, in the second quarter of fiscal 2020.

Net income, operating income and net sales in the first six months and second quarter of fiscal 2021 were adversely affected by the COVID-19 global pandemic as discussed below.

Operating income was $177.0 million in the first six months of fiscal 2021, as compared to $219.2 million in the first six months of fiscal 2020. In the second quarter of fiscal 2021, operating income was $96.7 million, as compared to $108.2 million in the second quarter of fiscal 2020.

The Company’s consolidated operating margin was 20.0% in the first six months of fiscal 2021, as compared to 22.5% in the first six months of fiscal 2020. The Company’s consolidated operating margin was 20.7% in the second quarter of fiscal 2021, as compared to 23.1% in the second quarter of fiscal 2020.

Net sales were $884.6 million in the first six months of fiscal 2021, as compared to $974.4 million in the first six months of fiscal 2020. In the second quarter of fiscal 2021, net sales were $466.7 million, as compared to $468.1 million in the second quarter of fiscal 2020.

EBITDA was $224.0 million in the first six months of fiscal 2021, as compared to $262.7 million in the first six months of fiscal 2020. In the second quarter of fiscal 2021, EBITDA was $120.0 million, as compared to $130.0 million in the second quarter of fiscal 2020. See our reconciliation of net income attributable to HEICO to EBITDA at the end of this press release.

Posted by on May 25th, 2021 at 4:27 pm


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