Heico Corp. (HEI) Tops Q3 EPS by 8c

Heico Corp. (NYSE: HEI) reported Q3 EPS of $0.40, $0.08 better than the analyst estimate of $0.32. Revenue for the quarter came in at $386.4 million versus the consensus estimate of $384.47 million.

"We continue to forecast positive cash flow from operations for the remainder of fiscal 2020. We entered the Outbreak with a healthy balance sheet that included a strong cash position and nominal debt. While, we cannot estimate the Outbreak’s duration and magnitude and cannot confidently predict when demand for our commercial aerospace products will return to pre-Outbreak levels, we believe HEICO is favorably positioned for long-term success despite the short-term challenges created by the Outbreak in the global economy. Our time-tested strategy of maintaining low debt and acquiring and operating high cash generating businesses across a diverse base of industries beyond commercial aerospace, such as defense, space and other high-end markets including electronics and medical, puts us in a good financial position to weather this uncertain economic period."

For earnings history and earnings-related data on Heico Corp. (HEI) click here.

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