Heico Corp. (HEI) Tops Q1 EPS by 12c

Heico Corp. (NYSE: HEI) reported Q1 EPS of $0.89, $0.12 better than the analyst estimate of $0.77. Revenue for the quarter came in at $506.28 million versus the consensus estimate of $508.22 million.

Outlook:

As we look ahead to the remainder of fiscal 2020, we anticipate continued net sales growth within the Flight Support Group's commercial aviation and defense product lines. We also anticipate growth within the Electronic Technologies Group, principally driven by demand for the majority of our products. During fiscal 2020, we plan to continue our commitments to developing new products and services, further market penetration, and an aggressive acquisition strategy, while maintaining our financial strength and flexibility.

Based on our current economic visibility, we now estimate approximately 14% - 15% growth in full year net income, up from our prior growth estimate of 13% - 14% and continue to estimate approximately 6% - 8% growth in full year net sales over fiscal 2019 levels. Additionally, we continue to anticipate our fiscal year 2020 consolidated operating margin to approximate 21.5% - 22.0%, depreciation and amortization expense of approximately $89 million, capital expenditures to approximate $42 million and cash flow from operations to approximate $475 million. These estimates exclude additional acquired businesses, if any. Further, these estimates exclude any potential impact from the recent coronavirus outbreak as the impact to our businesses is uncertain and difficult to predict."

For earnings history and earnings-related data on Heico Corp. (HEI) click here.

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