Compared to Estimates, Heico (HEI) Q3 Earnings: A Look at Key Metrics
For the quarter ended July 2024, Heico Corporation (HEI) reported revenue of $992.25 million, up 37.3% over the same period last year. EPS came in at $0.97, compared to $0.77 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $986.55 million, representing a surprise of +0.58%. The company delivered an EPS surprise of +6.59%, with the consensus EPS estimate being $0.91.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Heico performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Electronic Technologies Group (ETG)
: $322.13 million compared to the $364.24 million average estimate based on four analysts. The reported number represents a change of -1.2% year over year.Net Sales- Flight Support Group (FSG)
: $681.63 million compared to the $637.77 million average estimate based on four analysts. The reported number represents a change of +68.3% year over year.Net Sales- Corporate & Intersegment
: -$11.51 million versus the three-analyst average estimate of -$9.86 million. The reported number represents a year-over-year change of +43.8%.Operating income- Flight Support Group
: $153.59 million compared to the $138.63 million average estimate based on three analysts.Operating income- Other, primarily corporate
: -$12.94 million versus the three-analyst average estimate of -$12.22 million.Operating income- Electronic Technologies Group
: $75.79 million versus $88 million estimated by three analysts on average.
Shares of Heico have returned +5.3% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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