By Connor Hart
Heico logged higher profit and revenue in its fiscal first quarter, boosted by organic sales growth and recent acquisitions.
The airplane-part and electronics supplier on Wednesday reported a profit of $168 million for its three months ended Jan. 31, up from $114.7 million a year earlier.
Quarterly earnings of $1.20 a share topped the 94 cents a share that analysts surveyed by FactSet expected.
Sales rose 15% to $1.03 billion. Analysts were looking for $979.2 million, according to FactSet.
Shares rose 6.6%, to $242.49, in after-hours trading.
Flight support group revenue increased 15% to $713.2 million, boosted by organic growth and contributions from recent acquisitions, the company said. Sales across the company's electronic technologies group came in at $330.3 million, up 16% from the prior year.
Looking ahead, Chief Executive Laurans Mendelson said the company is optimistic about the sustained momentum its defence products are experiencing. "Additionally, we aim to accelerate growth through our recently completed acquisitions while positioning ourselves to capitalize on future acquisition opportunities," he said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 26, 2025 16:59 ET (21:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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