By Chris Wack
Heico shares are on pace for the biggest one-day gain almost five years after the technology company reported first-quarter earnings that beat analysts' expectations.
The stock was up up 13% to $256.04 in Thursday morning trading, putting the shares on pace for their biggest percentage gain since rising 12.6% on April 6, 2020. The shares are up 33% in the last year.
Heico posted quarterly earnings of $168 million, or $1.20 a share, compared with earnings of $114.7 million, or 82 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $133 million, or 94 cents a share.
Sales for the quarter were $1.03 billion, compared with last year's $896.4 million and the $979.7 million analysts were expecting.
The company said sales at its flight support group were up 15%, to $713.2 million, due to strong organic growth, and benefits from acquisitions in 2024 and 2025. Sales at its electronic technologies group were up 16% to $330.3 million, on increased space, defence and aerospace product sales.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 27, 2025 11:20 ET (16:20 GMT)
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