It's a sure bet that most investors, even those who regularly devour financial media, were until recently not familiar with Heico (HEI 0.60%). The specialty industrial components maker is a decades-old enterprise that operates an unglamorous business and rarely generates attention-grabbing news.Yet it's been quite the outperformer at times, and if anyone likes a solid yet under-the-radar stock, it's Warren Buffett. Heico's relative obscurity ended forever when the master investors at Berkshire Hathaway firs ...

This key supplier for various industries has generated over 90,000% returns over its lifetime.Legendary investor and billionaire Warren Buffett runs Berkshire Hathaway (BRK.A) (BRK.B 0.41%), one of the world's largest holding companies. Buffett is famous for his longtime investments in famous consumer-facing companies like Coca-Cola, Apple, and American Express. However, Buffett has made it a point to reduce his broad stock exposure over the past several quarters, raising Berkshire's cash position to a reco ...

Heico Corporation (HEI) has been on a downward spiral lately with significant selling pressure. After declining 5.9% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss. However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss. However, it's pretty easy to find cutting-edge growth stocks with th ...

Investors interested in Aerospace stocks should always be looking to find the best-performing companies in the group. Is Heico Corporation (HEI) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Aerospace peers, we might be able to answer that question. Heico Corporation is a member of our Aerospace group, which includes 46 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector grou ...

It has been about a month since the last earnings report for Heico Corporation (HEI) . Shares have added about 7.4% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Heico due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. HEICO's Q3 Earnings Surpass Estimates, Sales In ...

Billionaire investor Warren Buffett — the Oracle of Omaha — is known for his value investing style. Many want to mirror the legend's investing strategy and emerge a winner, having navigated the turbulent financial and economic waters. Want to Follow Buffett's Q2 Buys? Buffett took new positions in only two stocks in the second quarter of 2024. He purchased 1.04 million shares of aerospace and electronics company Heico (HEI) for Berkshire Hathaway's (BRK.A) (BRK.B) portfolio. He also bought over 690,000 shar ...

财务业绩 - 公司2024财年前9个月的合并净销售额达到28.44亿美元，同比增长40%[110] - 飞机支持集团(FSG)的净销售额增长67%至19.48亿美元，主要得益于2023和2024年的收购以及13%的有机增长[112] - 电子技术集团(ETG)的净销售额增长5%至9.27亿美元，主要受益于2023年收购的贡献，但有1%的有机销售下降[112] - 公司综合毛利率提升至39%，ETG和FSG的毛利率分别提升1个百分点和0.4个百分点[113] - 公司营业利润增长39%至6.06亿美元，其中FSG和ETG的营业利润分别增长61%和4%[117,118] - 公司所得税税率下降至17.3%，主要由于股票期权行权带来的税收优惠[121] - 公司归属于HEICO的净利润增长25%至3.74亿美元[123] - 合并后的综合毛利率提升至39.2%，主要反映电子技术集团和航空及航天集团毛利率分别提升1.3%和1.1%[126] - 销售、一般及管理费用占销售净额的比例下降至17.4%，主要反映销售净额增长带来的效率提升以及收购成本下降[128][129] - 综合营业利润增加45%至2.164亿美元，创历史新高，主要反映航空及航天集团和电子技术集团营业利润分别增加72%和2%[130] - 综合营业利润率提升至21.8%，主要反映两个主要业务分部的营业利润率均有所提升[131] - 利息费用增加至3680万美元，主要由于2023财年收购相关债务增加[132] - 归属于HEICO的净利润增加34%至1.366亿美元，每股0.97美元，主要反映营业利润增加，但被利息费用增加所抵消[135] 未来展望 - 预计2024财年两大业务分部的销售净额将保持增长，主要受益于2023和2024财年收购的贡献以及主要产品的持续需求[136] - 2024财年前9个月经营活动产生的净现金流增加55%至4.667亿美元，主要反映净利润增加、长期客户合同预收款增加等[139][140] 风险因素 - 公司预计未来面临的风险包括公共卫生事件的严重性、持续时间和影响范围、公司的流动性和现金流情况、商业航空旅行需求下降、客户需求变化、产品成本和要求上升、政府监管政策变化、新产品和服务的定价、产品开发和制造困难等[155][156][157][158] 内部控制 - 公司管理层评估了公司的披露控制和程序的有效性,认为截至2024年7月31日季度末公司的披露控制和程序是有效的[160] - 公司在2024年第三季度内部控制未发生重大变化[161] - 公司董事和高管在2024年第三季度未采取、修改或终止任何Rule 10b5-1交易安排或非Rule 10b5-1交易安排[162]

财务数据和关键指标变化 - 合并营业收入和营业利润均创历史新高,分别同比增长37%和45% [13] - 合并净利润增长34%至1.366亿美元,每股摊薄收益增长31%至0.97美元 [14] - 合并EBITDA增长45%至2.614亿美元 [15] - 净负债率从10月31日的3.04下降至7月31日的2.11 [15] 各条业务线数据和关键指标变化 飞机零件支持集团(FSG) - 创历史新高的净销售额和营业利润,分别同比增长68%和72% [14] - 主要由于15%的有机增长和2023/2024年收购的影响 [20] - 毛利率提升,主要反映售后市场替换件和维修服务的增长 [25][26] - 营业利润率从22%提升至22.5%,剔除无形资产摊销后的EBITA率达25.2% [26] 电子技术集团(ETG) - 净销售额小幅下降3.8%,主要由于其他电子和医疗产品销售下降,被国防、航天和航空产品销售增长所抵消 [28][29][30] - 营业利润率从22.8%提升至23.5%,剔除无形资产摊销后超过27% [32] 各个市场数据和关键指标变化 - 商用航空市场需求强劲,公司获得了大量订单 [31] - 国防市场持续向好,预计未来几年将保持增长 [29][31] - 其他电子和医疗市场需求有所下降,但公司预计将在2025财年上半年恢复增长 [30][31] 公司战略和发展方向及行业竞争 - 公司将继续通过收购和有机增长来拓展业务 [33][45][46][47] - 收购Capewell公司,进一步拓展在商用航空和国防市场的产品线 [21][110][112][113] - 收购波音737NG和777型号显示屏业务,进一步丰富航空电子产品线 [17][125] - 公司在行业内享有良好声誉,是客户和卖家首选的收购方 [46][47] 管理层对经营环境和未来前景的评论 - 对2024财年剩余时间保持乐观,预计FSG和ETG将实现销售增长 [33] - 认为公司的多元化业务组合将继续为股东带来积极成果 [34] - 对公司未来前景保持乐观,认为2024财年将是另一个成功的一年 [35] 其他重要信息 - 公司连续92个半年派发现金股利 [16] - 公司在2023年12月和2024年5月分别收购了波音737NG和777型号显示屏业务的许可和资产 [17][18] 问答环节重要的提问和回答 问题1 **Robert Spingarn 提问** 询问FSG业务的有机增长是否反映了Wencor整合的成熟以及市场需求的增强 [36][37] **Eric Mendelson 回答** 认为有机增长主要由两个因素驱动:1)公司在市场上的持续竞争优势;2)Wencor业务的并购带来的产品线扩展 [38][39][40][41][42] 问题2 **Bert Subin 提问** 询问FSG业务中替换件业务的价格和销量变化情况 [49][50] **Eric Mendelson 回答** 表示替换件业务的增长主要来自于销量增长,价格上涨在其中占比较小 [50][51][52][53] 问题3 **Victor Mendelson 回答** ETG业务中其他电子和医疗产品销售下降主要是由于客户去库存,预计将在2025财年上半年恢复增长 [101][102][103][104][105]