HEICO Corp Files Q3 2024 10-Q
Ticker: HEI-A · Form: 10-Q · Filed: Aug 28, 2024 · CIK: 46619
Sentiment: neutral
Topics: 10-Q, financials, aerospace
TL;DR
HEICO Q3 10-Q filed. Financials out.
AI Summary
HEICO Corp filed its 10-Q for the period ending July 31, 2024, reporting on its third fiscal quarter. The company, headquartered in Hollywood, Florida, operates in the aircraft engines and engine parts sector. Financial details for the quarter and year-to-date periods are presented, with specific figures for revenue, net income, and earnings per share expected to be detailed within the full filing.
Why It Matters
This filing provides investors with HEICO Corp's latest financial performance and operational updates, crucial for understanding the company's trajectory in the aerospace and defense industry.
Risk Assessment
Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial information and potential for market-moving disclosures.
Key Numbers
- Q3 2024 — Fiscal Quarter (Reporting period for this 10-Q filing.)
- 1031 — Fiscal Year End (HEICO Corp's fiscal year concludes on October 31st.)
Key Players & Entities
- HEICO CORP (company) — Filer
- Hollywood, FL (location) — Company Headquarters
- 3724 (SIC_code) — Aircraft Engines & Engine Parts
- 20240731 (date) — Reporting Period End Date
FAQ
What were HEICO Corp's total revenues for the three months ended July 31, 2024?
The filing indicates the reporting period is for the three months ended July 31, 2024, but specific revenue figures are not detailed in this header information.
What is HEICO Corp's net income for the third quarter of fiscal year 2024?
Specific net income figures for the quarter ending July 31, 2024, are not provided in the header data of this 10-Q filing.
How does HEICO Corp's financial performance in Q3 2024 compare to Q3 2023?
The filing covers periods including 2023-07-31 and 2024-07-31, suggesting comparative data will be available within the full report.
What is the company's earnings per share (EPS) for the reported quarter?
EPS figures for the quarter ended July 31, 2024, are not explicitly stated in the provided header information.
When was HEICO Corp incorporated?
The filing does not specify the incorporation date, but it does state the State of Incorporation is FL.
Filing Stats: 4,752 words · 19 min read · ~16 pages · Grade level 20 · Accepted 2024-08-28 16:08:11
Filing Documents
- hei-20240731.htm (10-Q) — 1276KB
- a73124exhibit311.htm (EX-31.1) — 9KB
- a73124exhibit312.htm (EX-31.2) — 9KB
- a73124exhibit321.htm (EX-32.1) — 5KB
- a73124exhibit322.htm (EX-32.2) — 5KB
- 0000046619-24-000059.txt ( ) — 7132KB
- hei-20240731.xsd (EX-101.SCH) — 46KB
- hei-20240731_cal.xml (EX-101.CAL) — 83KB
- hei-20240731_def.xml (EX-101.DEF) — 357KB
- hei-20240731_lab.xml (EX-101.LAB) — 551KB
- hei-20240731_pre.xml (EX-101.PRE) — 430KB
- hei-20240731_htm.xml (XML) — 1045KB
Financial Information
Part I. Financial Information Item 1.
Financial Statements
Financial Statements: Condensed Consolidated Balance Sheets (unaudited) as of July 31, 2024 and October 31, 2023 2 Condensed Consolidated Statements of Operations (unaudited) for the nine and three months ended July 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income (unaudited) for the nine and three months ended July 31, 2024 and 2023 4 Condensed Consolidated Statements of Shareholders' Equity (unaudited) for the nine and three months ended July 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows (unaudited) for the nine months ended July 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8 Item 2.
Management's Discussion and Analysis of Financial Condition and
Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 39
Other Information
Part II. Other Information
Other Events
Item 5. Other Events 39 Item 6. Exhibits 40
Signatures
Signatures 41 1 Index
FINANCIAL INFORMATION; Item 1. FINANCIAL STATEMENTS
PART I. FINANCIAL INFORMATION; Item 1. FINANCIAL STATEMENTS HEICO CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED (in thousands, except per share data) July 31, 2024 October 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 202,940 $ 171,048 Accounts receivable, net 525,750 509,075 Contract assets 104,412 111,702 Inventories, net 1,124,765 1,013,680 Prepaid expenses and other current assets 69,068 49,837 Total current assets 2,026,935 1,855,342 Property, plant and equipment, net 330,254 321,848 Goodwill 3,291,962 3,274,327 Intangible assets, net 1,299,870 1,357,281 Other assets 473,415 386,265 Total assets $ 7,422,436 $ 7,195,063 LIABILITIES AND EQUITY Current liabilities: Short-term debt and current maturities of long-term debt $ 4,208 $ 17,801 Trade accounts payable 207,463 205,893 Accrued expenses and other current liabilities 399,485 433,101 Income taxes payable 3,549 8,547 Total current liabilities 614,705 665,342 Long-term debt, net of current maturities 2,254,889 2,460,277 Deferred income taxes 117,033 131,846 Other long-term liabilities 509,632 379,640 Total liabilities 3,496,259 3,637,105 Commitments and contingencies (Note 11) Redeemable noncontrolling interests (Note 3) 329,271 364,807 Shareholders' equity: Preferred Stock, $ .01 par value per share; 10,000 shares authorized; none issued — — Common Stock, $ .01 par value per share; 150,000 shares authorized; 54,835 and 54,721 shares issued and outstanding 548 547 Class A Common Stock, $ .01 par value per share; 150,000 shares authorized; 83,748 and 83,507 shares issued and outstanding 837 835 Capital in excess of par value 613,682 578,809 Deferred compensation obligation 6,318 6,318 HEICO stock held by irrevocable trust ( 6,318 ) ( 6,318 ) Accumulated other comprehensive loss ( 28,945 ) ( 40,180 ) Retained earnings 2,953,854 2,605,984 Total HEICO shareholders' equity 3,539,976 3,145,995 Noncontrolling interests 56