Heico fiscal Q3 results top estimates as flight support unit shines, stock up

Published 2 months ago Positive
Heico fiscal Q3 results top estimates as flight support unit shines, stock up
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Investing.com-- Heico Corporation (NYSE:HEI) delivered Monday fiscal third-quarter results that exceeded Wall Street estimates, driven by growth in its flight support unit as well as a boost from recent acquisitions.

Shares in Heico (NYSE:HEI) rose more than 1% in premarket trading Tuesday.

The aerospace and electronics company reported Q3 earnings per share of $1.26 on revenue of $1.15B, compared with estimates for $1.12 and $1.11B, respectively.

The Flight Support group’s saw sales jump 18% to a record $802.7M in Q3, amid "continued growth and momentum in our aerospace aftermarket business," the company said.

(Yasin Ebrahim contributed to this report.)