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HEICO Logs Record Profit Growth, Integrates Wencor and Expands Financing

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HEICO reported a record-like third quarter, with net income up 33% to $235.4 million and net sales rising 23% to $1.4 billion. Cash from operations was $345.3 million. The company integrated Wencor, issued $1.2 billion of senior notes to repay its revolver and extended maturities to June 2031, raised its dividend, and closed acquisitions of Cook Defence Systems and CalRamic Technologies, while noting supply-chain repair bottlenecks.

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