HEICO Corporation (NYSE:HEI) Q3 2023 Results Conference Call August 23, 2023 9:00 AM ET Company Participants Larry Mendelson - Chairman & CEO Eric Mendelson - Co-President & Director Victor Mendelson - Co-President & Director Carlos Macau - EVP, CFO & Treasurer Conference Call Participants Peter Arment - Baird Pete Skibitski - Alembic Global Larry Solow - CJS Securities Michael Ciarmoli - Truist Securities Ken Herbert - RBC Capital Markets Sheila Kahyaoglu - Jefferies Josh Sullivan - the Benchmark Company J ...

Index UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number: 001-04604 HEICO CORPORATION (Exact name of registrant as specified in its charter) Florida 65-0341002 (State or other juri ...

HEICO Corporation (NYSE:HEI) Q2 2023 Earnings Conference Call May 23, 2023 9:00 AM ET Company Participants Laurans Mendelson - Chairman & CEO Eric Mendelson - Co-President & Director Victor Mendelson - Co-President & Director Carlos Macau - EVP, CFO & Treasurer Conference Call Participants Robert Spingarn - Melius Research Peter Arment - Robert W. Baird & Co. Lawrence Solow - CJS Securities Gautam Khanna - TD Cowen Colin Ducharme - Sterling Capital Joshua Sullivan - The Benchmark Company George Bancroft - G ...

Index UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number: 001-04604 HEICO CORPORATION (Exact name of registrant as specified in its charter) Florida 65-0341002 (State or other jur ...

财务数据和关键指标变化 - 第一季度合并净销售额创历史新高,主要得益于航空支持集团的销售增长 [8] - 第一季度合并营业利润和净销售额分别增长31%和27%,主要反映了14%的合并有机净销售额增长和2022/2023财年收购的影响 [8] - 第一季度合并营业利润率提升至20.8%,高于2022财年同期的20.2% [9] - 第一季度合并净利润增长7%至9300万美元,每股摊薄收益0.67美元,高于2022财年同期的8690万美元,每股0.63美元 [9] - 第一季度净利润受益于股票期权行权带来的税收优惠,但2023年的优惠金额较2022年有所下降 [9][10] - 2023年1月收购Exxelia产生的一次性收购成本,减少第一季度净利润约430万美元,每股0.03美元 [10] - 截至2023年1月31日,公司净债务占股东权益的比例为23.3%,高于2022年10月31日的5.7%,主要反映了收购Exxelia的影响 [11][12] - 截至2023年1月31日,公司净债务/EBITDA比率为1.02倍,高于2022年10月的0.25倍 [12] - 第一季度经营活动产生的现金流为7670万美元,略低于2022年同期的7800万美元,主要反映了存货增加 [13] 各条业务线数据和关键指标变化 航空支持集团 - 第一季度净销售额增长36%至3.713亿美元,创历史新高,主要反映了25%的有机增长和2022财年收购的影响 [17][18] - 第一季度营业利润增长60%至8360万美元,主要反映了销售增长、毛利率改善和规模效应 [19] - 第一季度营业利润率提升至22.5%,高于2022年同期的19.2%,主要反映了毛利率改善和销售费用下降 [21] 电子技术集团 - 第一季度净销售额增长15%至2.551亿美元,主要反映了2022/2023财年收购的影响 [23] - 第一季度有机净销售额与去年同期持平,主要反映了其他电子、商用航空和医疗产品销售增加,但国防产品销售下降 [24] - 第一季度营业利润增长2%至5650万美元,主要反映了销售增长,但被收购Exxelia相关成本和费用以及毛利率下降所抵消 [25] - 第一季度营业利润率为22.2%,低于2022年同期的25%,主要反映了Exxelia收购成本、毛利率下降和销售费用上升 [26][32] - 电子技术集团的订单量仍处于历史高位,即使剔除Exxelia的影响 [27] 各个市场数据和关键指标变化 - 公司在中国市场表现出色,销售持续强劲,预计将继续受益于该市场的复苏 [90][91] - 公司部分产品受益于航空公司延长老机型使用寿命的需求,销售有所增加 [146][147] 公司战略和发展方向及行业竞争 - 公司将继续专注于新产品和服务的开发、进一步市场渗透以及积极的收购策略,同时保持财务实力和灵活性 [36] - 公司的分散式经营模式和长期培养的企业文化,使其在供应链挑战中表现出色,有利于持续增长 [134][135] - 公司在防务市场的业务有较大增长空间,但受制于某些电子元器件的供应限制 [154][155] - 公司看到一些供应商由于资金紧张等原因出现机会,但这对公司的收购策略影响有限 [165][166] 管理层对经营环境和未来前景的评论 - 公司对2023财年剩余时间以及未来的增长前景保持乐观 [35][36] - 尽管面临持续的通胀压力和供应链中断,但公司有信心应对 [36] - 管理层对公司第一季度的出色业绩感到惊喜,但未来几个季度的增长预期保持谨慎 [103][104][105] - 管理层认为公司的商用航空需求将保持强劲,防务销售有望在今年晚些时候或明年初回升,但其他非航空航天市场可能会有所回落 [29][30] 问答环节重要的提问和回答 问题1 **Scott Deuschle 提问** 公司是否已与航空公司客户重新谈判,以获得价格上涨?[43] **Eric Mendelson 回答** 公司确实已经获得了一些价格上涨,尽管受限于长期协议的条款 [44] 问题2 **Peter Arnett 提问** 公司未来毛利率水平的预期如何?[58][59] **Eric Mendelson 回答** 公司将继续保持合理的毛利率水平,既要满足客户需求,又要应对原材料和人工成本上涨的压力 [59][60][61] 问题3 **Kristine Liwag 提问** 公司的PMA产品是否影响了航空公司的机队规划决策?[146] **Eric Mendelson 回答** 公司的PMA产品确实有助于延长老机型的使用寿命,这可能是航空公司考虑因素之一,但更多取决于整体运营成本和机队简化等因素 [146][147]

Index UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Commission File Number: 001-04604 HEICO CORPORATION (Exact name of registrant as specified in its charter) Florida 65-0341002 (State or other j ...

HEICO Corporation (NYSE:HEI) Q4 2022 Earnings Conference Call December 20, 2022 9:00 AM ET Company Participants Laurans Mendelson - Chairman, Chief Executive Officer Eric Mendelson - Co-President, President Flight Support Group Victor Mendelson - Co-President, President, Electronic Technologies Group Carlos Macau - Executive Vice President, Chief Financial Officer Conference Call Participants Rob Spingarn - Melius Research Larry Solow - CJS Securities Pete Skibitski - Alembic Global Peter Arnett - Baird Sco ...

HEICO Corporation (NYSE:HEI) Q3 2022 Results Conference Call August 30, 2022 9:00 AM ET Company Participants Laurans Mendelson - Chairman and Chief Executive Officer Eric Mendelson - Co-President and President of HEICO's Flight Support Group Victor Mendelson - Co-President and President of HEICO's Electronic Technologies Group Carlos Macau - Executive Vice President and Chief Financial Officer Conference Call Participants Larry Solow - CJS Securities Ellen Page - Jefferies Peter Arment - Robert W. Baird Ken ...

HEICO Corporation (NYSE:HEI) Q2 2022 Earnings Conference Call May 24, 2022 9:00 AM ET Company Participants Laurans Mendelson – Chairman and Chief Executive Officer Eric Mendelson – Co-President and President of HEICO's Flight Support Group Victor Mendelson – Co-President and President of HEICO's Electronic Technologies Group Carlos Macau – Executive Vice President and Chief Financial Officer Conference Call Participants Gautam Khanna – Cowen Larry Solow – CJS Securities Peter Arment – Baird Jason Holcomb – ...

HEICO Corporation (NYSE:HEI) Q1 2022 Earnings Conference Call February 24, 2022 9:00 AM ET Company Participants Laurans Mendelson - Chairman & Chief Executive Officer Eric Mendelson - Co-President & President of Flight Support Group Victor Mendelson - Co-President & President of Electronic Technologies Group Carlos Macau - Executive Vice President & Chief Financial Officer Conference Call Participants Robert Spingarn - Melius Research Peter Arment - Baird Pete Skibitski - Alembic Lee Jagoda - CJS Securities ...