HOLLYWOOD, FL AND MIAMI, FL / ACCESS Newswire / February 25, 2026 / HEICO CORPORATION (NYSE:HEI.A)(NYSE:HEI) today reported an prolong in uncover profits of 13% to a file $190.2 million, or $1.35 per diluted allotment, within the foremost quarter of fiscal 2026, up from $168.0 million, or $1.20 per diluted allotment, within the foremost quarter of fiscal 2025.
Win gross sales increased 14% to $1,178.6 million within the foremost quarter of fiscal 2026, up from $1,030.2 million within the foremost quarter of fiscal 2025. Working profits increased 15% to $259.9 million within the foremost quarter of fiscal 2026, up from $226.8 million within the foremost quarter of fiscal 2025. The Company’s consolidated running margin improved to 22.1% within the foremost quarter of fiscal 2026, up from 22.0% within the foremost quarter of fiscal 2025.
EBITDA increased 14% to $312.0 million within the foremost quarter of fiscal 2026, up from $273.9 million within the foremost quarter of fiscal 2025. Look our reconciliation of uncover profits attributable to HEICO to EBITDA at the halt of this press free up.
Win profits attributable to HEICO within the foremost quarter of fiscal 2026 and 2025 had been each favorably impacted by a discrete profits tax profit from stock option exercises. The profit within the foremost quarter of fiscal 2026, uncover of noncontrolling interests, was $21.8 million, or 15 cents per diluted allotment, as compared to $26.5 million, or 19 cents per diluted allotment, within the foremost quarter of fiscal 2025.
Consolidated Outcomes
Eric A. Mendelson and Victor H. Mendelson, HEICO’s Co-Chairmen and Co-Chief Government Officers, commented on the Company’s first quarter outcomes stating, “We are proud to express file quarterly uncover profits, to boot to increased running profits and uncover gross sales, mostly driven by tough double-digit consolidated organic uncover gross sales boost, to boot to the contributions from our fiscal 2025 and 2026 acquisitions. The tough organic boost reflects increased seek files from throughout all of the Flight Enhance Neighborhood’s product strains and for the Digital Technologies Neighborhood’s other electronics, aerospace and defense merchandise.
Money stir offered by running actions remained tough, totaling $178.6 million within the foremost quarter of fiscal 2026, as compared to $203.0 million within the foremost quarter of fiscal 2025. The decrease in cash offered by running actions reflects a serious distribution to a definite participant underneath the HEICO Management Compensation Opinion, to boot to increased performance-primarily based entirely compensation payments driven by tough running performance throughout each segments in fiscal 2025. We proceed to forecast tough cash stir from operations for fiscal 2026.
Our total debt to uncover profits attributable to HEICO ratio was 3.52x as of January 31, 2026, as compared to a couple.14x as of October 31, 2025. Our uncover debt to EBITDA ratio was 1.79x as of January 31, 2026, as compared to 1.60x as of October 31, 2025. The prolong in our leverage ratio within the foremost quarter of fiscal 2026 is a notify result of the a hit completion of an acquisition throughout the quarter. Look our reconciliation of total debt to uncover debt at the halt of this press free up.
As we glance forward to the relaxation of fiscal 2026, we ask persisted gross sales momentum throughout each the Flight Enhance Neighborhood and the Digital Technologies Neighborhood, supported by organic seek files from for our merchandise, along with the impact of recent acquisitions. We remain centered on pursuing selective acquisition alternatives that align with our boost scheme. Our disciplined monetary administration continues to stress lengthy-duration of time shareholder rate through a aggregate of strategic acquisitions and organic boost, whereas preserving monetary strength and flexibility.”
Flight Enhance Neighborhood
The Flight Enhance Neighborhood delivered tough finally ends up in running profits and uncover gross sales, reaching quarterly will enhance of 21% and 15%, respectively, as compared to the foremost quarter of fiscal 2025. These distinctive outcomes replicate tough double-digit organic uncover gross sales boost, driven by increased seek files from throughout all of the Flight Enhance Neighborhood’s product strains, to boot to the contributions from our fiscal 2025 acquisitions.
The Flight Enhance Neighborhood’s uncover gross sales increased 15% to $820.0 million within the foremost quarter of fiscal 2026, up from $713.2 million within the foremost quarter of fiscal 2025. The uncover gross sales prolong stems from tough organic boost of 12% and the impact from our fiscal 2025 acquisitions. The organic uncover gross sales boost is attributable to increased seek files from throughout all of the Flight Enhance Neighborhood’s product strains.
The Flight Enhance Neighborhood’s running profits increased 21% to $200.7 million within the foremost quarter of fiscal 2026, up from $166.1 million within the foremost quarter of fiscal 2025. The running profits prolong was mostly driven by the previously talked about uncover gross sales boost, selling, unprecedented and administrative (“SG&A”) expense efficiencies realized from the uncover gross sales boost, and an improved homely profit margin. The improved homely profit margin mostly reflects the previously talked about increased uncover gross sales and a more favorable product mix internal our repair and overhaul system and products and services product line.
The Flight Enhance Neighborhood’s running margin improved to 24.5% within the foremost quarter of fiscal 2026, up from 23.3% within the foremost quarter of fiscal 2025. The increased running margin mostly reflects a decrease in SG&A prices as a percentage of uncover gross sales, mainly reflecting the previously talked about SG&A expense efficiencies and improved homely profit margin.
Digital Technologies Neighborhood
The Digital Technologies Neighborhood’s first quarter 12% uncover gross sales prolong was driven mainly by tough organic boost throughout most of our merchandise, with double-digit organic uncover gross sales boost for our aerospace and other electronics merchandise.
The Digital Technologies Neighborhood’s uncover gross sales increased 12% to $370.7 million within the foremost quarter of fiscal 2026, up from $330.3 million within the foremost quarter of fiscal 2025. The uncover gross sales prolong was driven by tough organic boost of 6% and the impact from our fiscal 2025 and 2026 acquisitions. The organic uncover gross sales boost is mostly attributable to increased seek files from for our other electronics, aerospace and defense merchandise, partially offset by a decrease in seek files from for our online page online merchandise.
The Digital Technologies Neighborhood’s running profits was $73.2 million within the foremost quarter of fiscal 2026, as compared to $76.5 million within the foremost quarter of fiscal 2025. The running profits decrease mostly reflects a decrease in homely profit margin, partially offset by the previously talked about uncover gross sales boost. The decrease in homely profit margin mostly resulted from a much less favorable product mix of defense merchandise and the previously talked about decrease in uncover gross sales of online page online merchandise, partially offset by the previously talked about prolong in uncover gross sales of aerospace merchandise.
The Digital Technologies Neighborhood’s running margin was 19.8% within the foremost quarter of fiscal 2026, as compared to 23.1% within the foremost quarter of fiscal 2025. The lowered running margin mostly reflects the previously talked about lower homely profit margin.
Non-GAAP Financial Measures
To offer extra knowledge about the Company’s outcomes, HEICO has talked about on this press free up its EBITDA (calculated as uncover profits attributable to HEICO adjusted for depreciation and amortization expense, uncover profits attributable to noncontrolling interests, ardour expense and profits tax expense), its uncover debt (calculated as total debt much less cash and cash equivalents), and its uncover debt to EBITDA ratio (calculated as uncover debt divided by EBITDA), which may perhaps perhaps well well be now not willing per accounting principles on the overall licensed in america of The United States (“GAAP”).
These non-GAAP measures are included to complement the Company’s monetary knowledge presented per GAAP and on chronicle of the Company makes utilize of such measures to video display and review the performance of its alternate and believes the presentation of these measures enhance an investor’s capability to compare traits within the Company’s alternate and to deem the Company’s performance relative to other corporations in its alternate. On the other hand, these non-GAAP measures contain obstacles and can now not be regarded as in isolation or as an different for evaluation of the Company’s monetary outcomes as reported underneath GAAP.
These non-GAAP measures aren’t per, or an alternative choice to, measures willing per GAAP and would be varied from non-GAAP measures primitive by other corporations. As smartly as, these non-GAAP measures aren’t in step with any comprehensive blueprint of accounting guidelines or principles. These measures may perhaps well contain to aloof easiest be primitive to deem the Company’s outcomes of operations along side their corresponding GAAP measures. Pursuant to the necessities of Regulation G of the Securities and Substitute Act of 1934, the Company has offered a reconciliation of these non-GAAP measures within the last desk included on this press free up.
(NOTE: HEICO has two classes of overall stock traded on the NYSE. Every classes, the Class A Total Stock (HEI.A) and the Total Stock (HEI), are nearly identical in all financial respects. The very best difference between the allotment classes is the balloting rights. The Class A Total Stock (HEI.A) carries 1/10 vote per allotment and the Total Stock (HEI) carries one vote per allotment.)
There are right now roughly 84.4 million shares of HEICO’s Class A Total Stock (HEI.A) popular and 55.1 million shares of HEICO’s Total Stock (HEI) popular. The stock symbols for HEICO’s two classes of overall stock on most websites are HEI.A and HEI. On the other hand, some websites replace HEICO’s Class A Total Stock trading image (HEI.A) to HEI/A or HEIa.
As previously presented, HEICO will withhold a conference call on Thursday, February 26, 2026 at 9:00 a.m. Eastern Current Time to discuss its first quarter outcomes. Folk wishing to take half within the conference call may perhaps well contain to aloof dial: US and Canada (800) 330-6710, World (646) 769-9200, anticipate the conference operator and present the operator with the Conference ID 3280563. A digital replay will be readily accessible two hours after the completion of the conference for 14 days. To uncover entry to the replay, please check with our online page online at https://www.heico.com underneath the Investors share for cramped print.
HEICO Company is engaged primarily within the manufacture, production, servicing and distribution of merchandise and products and services to definite niche segments of the aviation, defense, online page online, clinical, telecommunications and electronics industries through its Hollywood, Florida-primarily based entirely Flight Enhance Neighborhood and its Miami, Florida-primarily based entirely Digital Technologies Neighborhood. HEICO’s customers consist of a majority of the sector’s airways and overhaul outlets, to boot to heaps of defense and online page online contractors and army agencies worldwide, to boot to to clinical, telecommunications and electronics tools manufacturers. For more knowledge about HEICO, please check with our online page online at https://www.heico.com.
Definite statements on this press free up constitute ahead-having a look for statements, which may perhaps perhaps well well be area to risks, uncertainties and contingencies. HEICO’s right outcomes may perhaps well also vary materially from those expressed in or implied by those ahead-having a look for statements. Components that may perhaps well also trigger such differences consist of, amongst others: the severity, magnitude and length of public health threats; our liquidity and the amount and timing of money era; lower business air rush, airline like a flash adjustments or airline procuring choices, which may perhaps also trigger lower seek files from for our items and products and services; product specification prices and requirements, which may perhaps also trigger an prolong in our prices to total contracts; governmental and regulatory demands, export insurance policies and restrictions, reductions in defense, online page online or dwelling of beginning safety spending by U.S. and/or foreign customers or competition from existing and recent competitors, which may perhaps also lower our gross sales; our capability to introduce recent merchandise and products and services at worthwhile pricing phases, which may perhaps also lower our gross sales or gross sales boost; product fashion or manufacturing difficulties, which may perhaps also prolong our product fashion and manufacturing prices and lengthen gross sales; cybersecurity events or other disruptions of our knowledge skills systems may perhaps well also adversely impact our alternate; and our capability to originate acquisitions, in conjunction with acquiring any appropriate home and/or foreign governmental approvals, and enact running synergies from got agencies; buyer credit possibility; ardour, foreign replace replace and profits tax rates; and financial stipulations, in conjunction with the effects of inflation, internal and outside of the aviation, defense, online page online, clinical, telecommunications and electronics industries, which may perhaps also negatively impact our prices and revenues. Events receiving this fabric are encouraged to review all of HEICO’s filings with the Securities and Substitute Price in conjunction with, however now not miniature to filings on Get hang of 10-Okay, Get hang of 10-Q and Get hang of 8-Okay. We undertake no duty to publicly substitute or revise any ahead-having a look for observation, whether or now not on chronicle of recent knowledge, future events or in any other case, other than to the extent required by appropriate law.
HEICO CORPORATION
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, other than per allotment files)
Three Months Ended January 31,
2026
2025
Win gross sales
$
1,178,582
$
1,030,222
Mark of gross sales
723,618
624,560
Promoting, unprecedented and administrative prices
195,065
178,857
Working profits
259,899
226,805
Interest expense
(29,486
)
(32,458
)
Other profits
1,044
919
Profits before profits taxes and noncontrolling interests
231,457
195,266
Profits tax expense
26,700
(a)
13,700
(b)
Win profits from consolidated operations
204,757
181,566
Less: Win profits attributable to noncontrolling interests
14,569
13,611
Win profits attributable to HEICO
$
190,188
(a)
$
167,955
(b)
Win profits per allotment attributable to HEICO shareholders:
Regular
$
1.36
(a)
$
1.21
(b)
Diluted
$
1.35
(a)
$
1.20
(b)
Weighted common selection of overall shares popular:
Regular
139,368
138,837
Diluted
141,029
140,484
Three Months Ended January 31,
2026
2025
Working section knowledge:
Win gross sales:
Flight Enhance Neighborhood
$
820,000
$
713,174
Digital Technologies Neighborhood
370,675
330,315
Intersegment gross sales
(12,093
)
(13,267
)
$
1,178,582
$
1,030,222
Working profits:
Flight Enhance Neighborhood
$
200,733
$
166,116
Digital Technologies Neighborhood
73,246
76,456
Other, primarily corporate
(14,080
)
(15,767
)
$
259,899
$
226,805
Depreciation and amortization:
Flight Enhance Neighborhood
$
27,875
$
25,832
Digital Technologies Neighborhood
22,284
19,500
Other, primarily corporate
849
893
$
51,008
(c)
$
46,225
(c)
HEICO CORPORATION
Footnotes to Condensed Consolidated Statements of Operations (Unaudited)
(a)
At some level of the foremost quarter of fiscal 2026, the Company known a $22.3 million discrete tax profit from stock option exercises, which, uncover of noncontrolling interests, increased uncover profits attributable to HEICO by $21.8 million, or $.16 per unprecedented allotment and $.15 per diluted allotment.
(b)
At some level of the foremost quarter of fiscal 2025, the Company known a $27.2 million discrete tax profit from stock option exercises, which, uncover of noncontrolling interests, increased uncover profits attributable to HEICO by $26.5 million, or $.19 per unprecedented and diluted allotment.
(c)
Depreciation and amortization knowledge on the Company’s two running segments for the three months ended January 31, 2026 and 2025, is as follows (in thousands):
Three Months Ended January 31,
2026
2025
Depreciation:
Flight Enhance Neighborhood
$
6,781
$
6,578
Digital Technologies Neighborhood
6,923
5,969
Other, primarily corporate
457
501
$
14,161
$
13,048
Amortization:
Flight Enhance Neighborhood
$
21,094
$
19,254
Digital Technologies Neighborhood
15,361
13,531
Other, primarily corporate
392
392
$
36,847
$
33,177
HEICO CORPORATION
Condensed Consolidated Steadiness Sheets (Unaudited)
(in thousands)
January 31, 2026
October 31, 2025
Money and cash equivalents
$
260,971
$
217,781
Accounts receivable, uncover
652,024
637,615
Contract sources
116,900
119,257
Inventories, uncover
1,338,421
1,295,336
Pay as you glide prices and other most up-to-date sources
111,298
86,377
Total most up-to-date sources
2,479,614
2,356,366
Property, plant and tools, uncover
448,992
431,710
Goodwill
3,905,669
3,661,624
Intangible sources, uncover
1,642,001
1,471,440
Other sources
567,420
579,294
Total sources
$
9,043,696
$
8,500,434
Current maturities of lengthy-duration of time debt
$
3,396
$
3,358
Other most up-to-date liabilities
807,204
828,646
Total most up-to-date liabilities
810,600
832,004
Long-duration of time debt, uncover of most up-to-date maturities
2,504,285
2,164,587
Deferred profits taxes
148,056
107,186
Other lengthy-duration of time liabilities
535,026
550,124
Total liabilities
3,997,967
3,653,901
Redeemable noncontrolling interests
464,581
467,358
Shareholders’ fairness
4,581,148
4,379,175
Total liabilities and fairness
$
9,043,696
$
8,500,434
HEICO CORPORATION
Condensed Consolidated Statements of Money Flows (Unaudited)
(in thousands)
Three Months Ended January 31,
2026
2025
Working Actions:
Win profits from consolidated operations
$
204,757
$
181,566
Depreciation and amortization
51,008
46,225
Portion-primarily based entirely compensation expense
11,296
4,671
Deferred profits tax provision (profit)
7,480
(7,052
)
Employer contributions to HEICO Savings and Investment Opinion
5,901
5,473
Win bigger in accrued contingent consideration
2,225
3,288
Payment of contingent consideration
–
(2,190
)
(Win bigger) decrease in accounts receivable
(5,262
)
20,062
Decrease (prolong) in contract sources
3,753
(5,949
)
Win bigger in inventories
(17,101
)
(36,207
)
Decrease in most up-to-date liabilities
(92,868
)
(36,622
)
Other
7,408
29,769
Win cash offered by running actions
178,597
203,034
Investing Actions:
Acquisitions, uncover of money got
(441,397
)
(254,763
)
Investments associated to HEICO Management Compensation Opinion
(14,000
)
(14,600
)
Capital expenditures
(13,496
)
(17,335
)
Proceeds from corporate-owned existence insurance protection withdrawals
22,654
–
Other
(728
)
(1,297
)
Win cash primitive in investing actions
(446,967
)
(287,995
)
Financing Actions:
Borrowings on revolving credit facility, uncover
340,000
125,000
Money dividends paid
(16,724
)
(15,272
)
Distributions to noncontrolling interests
(7,181
)
(10,236
)
Redemptions of overall stock associated to stock option exercises
(4,531
)
(95
)
Acquisitions of noncontrolling interests
(4,072
)
(3,258
)
Payment of contingent consideration
–
(5,954
)
Proceeds from stock option exercises
2,896
1,597
Other
(812
)
(1,070
)
Win cash offered by financing actions
309,576
90,712
Pause of replace rate adjustments on cash
1,984
(2,387
)
Win prolong in cash and cash equivalents
43,190
3,364
Money and cash equivalents at origin of 300 and sixty five days
217,781
162,103
Money and cash equivalents at halt of duration
$
260,971
$
165,467
HEICO CORPORATION
Non-GAAP Financial Measures (Unaudited)
(in thousands, other than ratios)
Three Months Ended January 31,
EBITDA Calculation
2026
2025
Win profits attributable to HEICO
$
190,188
$
167,955
Plus: Depreciation and amortization
51,008
46,225
Plus: Win profits attributable to noncontrolling interests
14,569
13,611
Plus: Interest expense
29,486
32,458
Plus: Profits tax expense
26,700
13,700
EBITDA (a)
$
311,951
$
273,949
Trailing Twelve Months Ended
EBITDA Calculation
January 31, 2026
October 31, 2025
Win profits attributable to HEICO
$
712,618
$
690,385
Plus: Depreciation and amortization
200,859
196,076
Plus: Win profits attributable to noncontrolling interests
56,127
55,169
Plus: Interest expense
126,905
129,877
Plus: Profits tax expense
161,000
148,000
EBITDA (a)
$
1,257,509
$
1,219,507
Win Debt Calculation
January 31, 2026
October 31, 2025
Total debt
$
2,507,681
$
2,167,945
Less: Money and cash equivalents
(260,971
)
(217,781
)
Win debt (a)
$
2,246,710
$
1,950,164
Total debt
$
2,507,681
$
2,167,945
Win profits attributable to HEICO (trailing twelve months)
$
712,618
$
690,385
Total debt to uncover profits attributable to HEICO ratio
3.52
3.14
Win debt
$
2,246,710
$
1,950,164
EBITDA (trailing twelve months)
$
1,257,509
$
1,219,507
Win debt to EBITDA ratio (a)
1.seventy nine
1.60
(a) Look the “Non-GAAP Financial Measures” share of this press free up.
Contact:
Victor H. Mendelson (305) 374-1745 ext. 7590
Carlos L. Macau, Jr. (954) 987-4000 ext. 7570
SOURCE: HEICO Company
